Australia's Black Cat Syndicate falls on lower funding for WA gold operation

Black Cat Syndicate

15/03/2024 02:41

** Shares of Black Cat Syndicate  BC8.AX  fall as much as
10.6% to A$0.210, on track for their worst day since Feb 12, if
losses hold
    ** The gold miner replaces A$60 mln ($39.41 mln) funding
package to restart co's Paulsens gold operation in Western
Australia 
    ** Co receives new funding package of A$45 mln from
China-based investment firm Sundy 
    ** Black Cat terminates A$36 mln equity placement with
Fuyang Mingjin New Energy Development and Southeast Mingqing
Supply Chain (Fuyang)
    ** Also terminates A$15 mln debt facility provided by
Mingjin 
    ** Stock hits lowest level since March 4 
    ** About 1.2 mln shares change hands, compared with 30-day
average trading volume of 465,076 shares 
    ** Black Cat stock down 6% YTD, as of last close 
   
   ($1 = 1.5225 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))