Ann: Funded Acquisition of Coyote & Paulsens Gold Operations, page-24

58c is not a reflection of the value of Paulsens on its own imo. This is trading at about the replacement price of the two newly acquired mills without the 2m ounces, two camps and exploration upside. People are already talking about the next placement that 'maybe' required in 18 months time. Meanwhile, they just created the value with more to come. That means there isn't anything in the price with this deal. Its heavily discounted...until the penny drops. For the record, Mid tier strategy means a valuation well north of $1b or $4 a share depending on any further dilution if they find another tasty deal along the way.
2mpt operation means close to 150,000oz pa at these grades. Have a guesstimate of around $800- $1000 margins and you can do the math. That would suggest a billion bucks is a reasonable target market cap when all said and done. Some may wish to wait for this to unfold and some may not. I think its hard to turn 58c into a possible $4 price over 4-5 years in anything else i can find. That looks awfully like a multibagger to me. Beats the banks interest rates. lol.

Black Cat’s acquisitions of the Coyote & Paulsens Gold Operations from Northern Star.

HIGHLIGHTS (Upon Completion)

Black Cat will:

• Control 1,770 km2 and three high-grade operations in prime WA gold regions

• Increase total Resources by 56% to >2Moz @ 2.5g/t Au with the acquisition of 724,000 oz at 3.4g/t Au

• Own the only gold milling infrastructure in the Ashburton and Western Tanami regions

• Commence a substantial exploration campaign over numerous near-mine & regional targets with a goal of establishing a 3Moz Resource base

• Advance towards low risk and low capital sequential restart of operations

• Be well funded following a strongly supported capital raising of $35m

• Target decision to mine within 18-24 months

Black Cat Chairman, Paul Chapman, said:

“This is a transformational transaction for Black Cat. We listed on the ASX in January 2018 with 80km2 of land, no Resources and no mill. This transaction will have us at 1,770km2 containing >2Moz @ 2.5 g/t Au with 2 mills and a third well advanced.

The vision for Black Catis to become a mid-tier Western Australian gold producer, comprised of:

• Three operations with a combined milling capacity of up to 2Mtpa;

• Resources of 3.0Moz with strong Ore Reserves; and

• A strong balance sheet and robust enterprise value.