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Black Cat Syndicate Ltd. (AU:BC8)
ASX:BC8
Australian Market

Black Cat Syndicate Ltd. (BC8) AI Stock Analysis

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AU

Black Cat Syndicate Ltd.

(Sydney:BC8)

Rating:44Neutral
Price Target:
AU$0.50
▼(-34.21%Downside)
The overall stock score is primarily impacted by the company's robust revenue growth potential, which is overshadowed by significant profitability and cash flow challenges. The bearish technical indicators and unattractive valuation further weigh down the score. Improving operational efficiencies and managing capital expenditures are critical for enhancing the company's financial health and attractiveness.

Black Cat Syndicate Ltd. (BC8) vs. iShares MSCI Australia ETF (EWA)

Black Cat Syndicate Ltd. Business Overview & Revenue Model

Company DescriptionBlack Cat Syndicate Limited engages in the exploration and development of gold properties in Australia. It primarily holds interest in the Kal East gold project, which covers an area of 756 square kilometers located to the east of Kalgoorlie, Western Australia. The company was incorporated in 2017 and is based in West Perth, Australia.
How the Company Makes MoneyBlack Cat Syndicate Ltd. generates revenue through the exploration and development of mineral resources, particularly gold. The company makes money by identifying promising mining sites, conducting feasibility studies, and advancing projects to attract investment or potential buyers. Revenue streams include the sale of extracted minerals, joint ventures with other mining companies, and potential royalties from developed projects. Strategic partnerships with investors and larger mining firms often play a crucial role in providing the necessary capital and expertise to move projects from exploration to production, thereby contributing to BC8's earnings.

Black Cat Syndicate Ltd. Financial Statement Overview

Summary
Black Cat Syndicate Ltd. shows significant revenue growth but struggles with profitability and cash flow. Despite a strong balance sheet with low leverage, operational inefficiencies and high capital expenditures present challenges. The company's growth potential is promising, but achieving profitability is crucial.
Income Statement
45
Neutral
Black Cat Syndicate Ltd. has shown significant revenue growth with a 432.00% increase from 2023 to 2024. However, the company remains unprofitable with a negative net profit margin of -82.58% for 2024. While the gross profit margin is 100%, reflecting the absence of cost of goods sold, the negative EBIT margin of 27.16% and EBITDA margin of -48.43% indicate operational challenges. The company exhibits potential for revenue growth but faces profitability issues.
Balance Sheet
60
Neutral
The company maintains a strong equity base with an equity ratio of 74.14% in 2024, indicating low leverage and financial stability. The debt-to-equity ratio is 0.08, reflecting prudent management of debt levels. However, the return on equity is negative, at -3.25%, due to ongoing losses, suggesting challenges in generating returns for shareholders despite a solid balance sheet.
Cash Flow
50
Neutral
Operating cash flow improved slightly but remains negative, indicating operational cash burn. Free cash flow remains deeply negative, mainly due to high capital expenditures, reflecting ongoing investments. The operating cash flow to net income ratio suggests inefficiency in converting income to cash, while financing activities have been the primary source of cash, raising concerns about sustainability.
BreakdownTTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income Statement
Total Revenue5.77M4.61M866.95K136.21K0.000.00
Gross Profit5.77M4.61M538.10K43.91K-25.07K-16.31K
EBITDA-5.22M-2.23M-4.47M-3.72M-2.30M-1.41M
Net Income-11.77M-3.81M-4.80M-3.90M-2.30M-1.37M
Balance Sheet
Total Assets246.34M157.80M128.18M116.22M48.35M13.02M
Cash, Cash Equivalents and Short-Term Investments56.68M13.98M4.66M18.17M16.05M2.87M
Total Debt8.10M9.44M5.00M132.36K190.40K0.00
Total Liabilities43.73M40.80M34.71M37.21M2.19M997.46K
Stockholders Equity202.61M116.99M93.47M79.01M46.16M12.03M
Cash Flow
Free Cash Flow-46.08M-19.38M-26.93M-31.08M-15.14M-5.67M
Operating Cash Flow-2.58M-2.06M-3.38M-3.30M-1.30M-754.64K
Investing Cash Flow-48.75M-22.57M-28.18M-27.80M-13.88M-4.89M
Financing Cash Flow99.97M33.95M18.05M33.22M28.37M5.80M

Black Cat Syndicate Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.76
Price Trends
50DMA
0.89
Negative
100DMA
0.86
Negative
200DMA
0.73
Positive
Market Momentum
MACD
-0.02
Positive
RSI
39.33
Neutral
STOCH
7.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BC8, the sentiment is Negative. The current price of 0.76 is below the 20-day moving average (MA) of 0.84, below the 50-day MA of 0.89, and above the 200-day MA of 0.73, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 39.33 is Neutral, neither overbought nor oversold. The STOCH value of 7.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BC8.

Black Cat Syndicate Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
62
Neutral
$9.96B9.44-0.15%2.98%1.92%-35.27%
AUBC8
44
Neutral
AU$558.93M-7.78%-875.00%
$18.05B24.9311.01%2.44%
$9.93B21.3616.97%1.78%
$2.37B20.3713.42%0.84%
$1.89B7.8226.42%1.22%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:BC8
Black Cat Syndicate Ltd.
0.77
0.47
156.67%
NESRF
Northern Star Resources Ltd
11.69
3.21
37.85%
CAHPF
Evolution Mining Limited
4.94
2.76
126.61%
ELKMF
Gold Road Resources Ltd
2.25
1.15
104.55%
RMLRF
Ramelius Resources Limited
1.58
0.36
29.51%

Black Cat Syndicate Ltd. Corporate Events

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
Jun 26, 2025

Black Cat Syndicate Ltd. announced the quotation of 44,444 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code BC8, effective June 26, 2025. This move is part of the company’s strategy to leverage its financial resources, potentially impacting its operational capabilities and market positioning within the mining industry.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Issues New Shares Following Option Exercise
Jun 26, 2025

Black Cat Syndicate Limited has announced the issuance of 44,444 ordinary fully paid shares following the early exercise of listed options priced at $0.3375, which are set to expire on November 14, 2025. This move is part of the company’s capital management strategy and reflects investor confidence, potentially strengthening its financial position and market presence.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Accelerates Tolling Program and Appoints New COO
Jun 19, 2025

Black Cat Syndicate Limited has announced an acceleration in its tolling program at the Lakewood Processing Facility, allowing for an additional 40,000 tonnes of ore to be processed in the June 2025 quarter. This move is expected to enhance operational efficiency by reducing processing stoppages and facilitating a smoother transition into full production for the Kal East mines. Additionally, the company has appointed Tim Mason as the new Chief Operating Officer to oversee existing operations and drive the company’s ‘More Gold Sooner’ strategy, which aims to boost production and growth.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Issues Shares on Early Option Exercise
Jun 6, 2025

Black Cat Syndicate Limited has announced the issuance of 90,000 ordinary fully paid shares following the early exercise of listed options priced at $0.3375, set to expire on 14 November 2025. This move is part of the company’s capital structure strategy, which includes a mix of fully paid ordinary shares and various options and performance rights, potentially impacting the company’s liquidity and shareholder value.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.82 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
May 29, 2025

Black Cat Syndicate Ltd. has announced the quotation of 50,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code BC8, effective May 29, 2025. This move is part of the company’s strategy to enhance its market presence and provide liquidity to its stakeholders, potentially impacting its operations and positioning within the industry.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Boosts Capital Through Early Option Exercise
May 29, 2025

Black Cat Syndicate Limited has announced the issuance of 50,000 ordinary fully paid shares following the early exercise of listed options, priced at $0.3375 and expiring on 14 November 2025. This move indicates active engagement in capital management, potentially strengthening the company’s financial position and enhancing its operational capabilities in the competitive gold mining sector.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Reports Successful Drilling at Paulsens Gold Operation
May 28, 2025

Black Cat Syndicate Limited has announced successful drilling results at its Paulsens Gold Operation, with significant gold intersections in the Gabbro Veins. The drilling program, which began in February 2025, aims to support mine development and optimize planning, with mining activities already underway in the newly developed area. The company plans to continue its underground drilling and commence surface drilling in June 2025, as part of its strategy to enhance gold production.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Unveils Promising Drilling Results at Kal East
May 25, 2025

Black Cat Syndicate Ltd. has announced promising results from its recent drilling program at the Kal East Gold Operation, particularly at the Imperial deposit. The drilling, which included 11 reverse circulation holes, revealed significant gold intersections, suggesting the potential for a cut-back to the historic open pit at Imperial. This development was not included in the previous mine plan and will be integrated into the updated Kal East mine plan. Additionally, mine development drilling has commenced at the Fingals deposit, with plans to accelerate the program by mobilizing a second drilling rig. These activities align with Black Cat’s strategy to increase gold production in the near term.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Issues Unlisted Employee Options
May 21, 2025

Black Cat Syndicate Limited has announced the issuance of 3,110,000 unlisted options, exercisable at $1.237 and expiring on May 20, 2029. This move is part of an employee incentive scheme and is not intended for public trading on the ASX. The issuance of these securities is likely aimed at motivating and retaining key employees, potentially strengthening the company’s operational capabilities and aligning employee interests with company performance.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Issues Employee Options to Boost Engagement
May 21, 2025

Black Cat Syndicate Limited has issued 3,110,000 unlisted options to its employees as part of its Incentive Securities Plan, approved by shareholders in November 2023. This issuance is expected to align employee interests with company goals, potentially enhancing operational performance and shareholder value.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
May 13, 2025

Black Cat Syndicate Ltd. has announced the quotation of 15,789,143 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code BC8. This move is part of a previously announced transaction and is expected to enhance the company’s market presence and provide additional liquidity for stakeholders.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
May 13, 2025

Black Cat Syndicate Ltd. has announced the quotation of 1,507,777 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code BC8, effective May 13, 2025. This move is part of the company’s strategic efforts to enhance its capital structure and potentially improve liquidity, which could have significant implications for its market positioning and stakeholder engagement.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Raises $12 Million in Share Placement
May 13, 2025

Black Cat Syndicate Limited announced the issuance of 15,789,143 new ordinary shares at $0.76 each, raising approximately $12 million as part of the second tranche of a share placement. This move, approved by shareholders, aims to strengthen the company’s financial position and support its ongoing operations. Additionally, the company issued shares related to the early exercise of options and under agreements with indigenous groups, reflecting its commitment to community engagement and operational expansion.

The most recent analyst rating on (AU:BC8) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Black Cat Syndicate Ltd. stock, see the AU:BC8 Stock Forecast page.

Black Cat Syndicate Secures Shareholder Approval for Strategic Resolutions
May 6, 2025

Black Cat Syndicate Ltd. announced that all resolutions proposed at its General Meeting were approved by shareholder votes. This approval, particularly for the ratification and issuance of placement shares, is expected to support the company’s strategic initiatives and strengthen its financial position, potentially impacting its growth and development within the mining sector.

Black Cat Syndicate Secures $304,000 for Mt Clement Exploration
Apr 28, 2025

Black Cat Syndicate Limited has secured $304,000 in co-funding grants from the Department of Energy, Mines, Industry Regulation and Safety for its Mt Clement Antimony Project. The grants will fund two deep diamond drill holes and a regional-scale magnetotelluric survey, aimed at exploring and expanding the mineral resources at Mt Clement. These initiatives are part of Black Cat’s strategy to enhance its exploration efforts and unlock further potential in the region, potentially impacting its operations and positioning within the mining industry.

Black Cat Syndicate’s Transformational Quarter Boosts Gold Production
Apr 27, 2025

Black Cat Syndicate Limited reported significant progress in transforming into a major gold producer in Western Australia during the quarter ended March 31, 2025. Key developments include increased gold production and sales, the commissioning of the Paulsens processing facility, and the acquisition of the Lakewood processing facility. The company has also commenced major drilling programs and reoptimized its Kal East deposits, while completing a $65 million placement to support its operations. These efforts are aimed at accelerating gold production and strengthening the company’s financial position, with implications for enhanced operational capacity and market competitiveness.

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
Apr 16, 2025

Black Cat Syndicate Ltd. has announced the quotation of 167,819 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code BC8. This move is part of the company’s strategy to enhance its capital structure and support its ongoing exploration and development activities, potentially impacting its market positioning and offering new opportunities for stakeholders.

Black Cat Syndicate Expands Capital with New Share Issuance
Apr 16, 2025

Black Cat Syndicate Limited announced the issuance of 167,819 ordinary fully paid shares following the early exercise of listed options priced at $0.3375, set to expire on 14 November 2025. This move is part of the company’s strategy to strengthen its capital structure, with a pro forma issued capital now totaling 746,011,964 shares, enhancing its financial flexibility and positioning in the mining sector.

Black Cat Syndicate Advances Kal East Gold Project with Myhree Underground Approval
Apr 15, 2025

Black Cat Syndicate Limited has announced the approval for underground mining at the Myhree site within the Kal East Gold Project, as part of its ‘more gold sooner’ strategy. This approval allows for the commencement of underground operations following the completion of the open pit in October 2025. The company is also reoptimizing its mining operations based on current gold prices, tendering contracts, and conducting drilling activities to enhance resource extensions. These developments are expected to facilitate a smooth transition to additional mining operations, potentially impacting the company’s production capabilities and market positioning.

Black Cat Syndicate Begins Promising Drilling at Kal East
Apr 13, 2025

Black Cat Syndicate Limited has commenced surface drilling at the Kal East Gold Project, targeting extensions to the Imperial/Majestic Resource and the high-grade mineralization at Fingals. The initial drilling has already intersected visible gold, indicating promising potential for resource expansion. These efforts are part of Black Cat’s strategy to extend mine life and discover new resources, with assay results expected soon. The company’s proactive exploration approach is poised to strengthen its market position and deliver value to stakeholders.

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
Apr 4, 2025

Black Cat Syndicate Ltd. has announced the quotation of 99,793 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code BC8, effective April 4, 2025. This move indicates a strategic step in the company’s financial operations, potentially enhancing its market presence and offering new opportunities for stakeholders.

Black Cat Syndicate Enhances Capital Structure with Option Exercise
Apr 4, 2025

Black Cat Syndicate Limited announced the issuance of 99,793 ordinary fully paid shares following the early exercise of listed options. This move is part of the company’s ongoing capital structure management, which includes a variety of listed and unlisted options and performance rights. The exercise of these options is expected to enhance the company’s financial position and potentially impact its market presence positively.

Black Cat Syndicate Ltd. Announces General Meeting for Shareholders
Apr 3, 2025

Black Cat Syndicate Ltd. has announced a General Meeting for its shareholders, scheduled for May 6, 2025, in Perth, Western Australia. The company will not send physical copies of the meeting notice and related documents unless specifically requested, in line with recent legislative changes. Shareholders are encouraged to submit proxy forms online and participate in the meeting by voting in advance and submitting questions. The meeting’s arrangements may change, and updates will be provided via ASX announcements and the company’s website.

Kongwell Management Acquires Significant Stake in Black Cat Syndicate
Apr 2, 2025

Kongwell Management Limited has become a substantial holder in Black Cat Syndicate Limited, acquiring a 6.78% voting power through 46,747,731 ordinary shares. This acquisition marks a significant stake in the company, potentially influencing its future strategic decisions and impacting stakeholders.

Black Cat Syndicate Boosts Gold Production with Lakewood Acquisition
Mar 31, 2025

Black Cat Syndicate Limited has completed the acquisition of the Lakewood processing facility, which is now part of its Kal East Gold Operation. This move aligns with the company’s strategy of accelerating gold production. The acquisition was finalized with a payment of $24 million and the issuance of over 19 million shares. The facility’s experienced workforce has been retained, and processing of Myhree Ore has commenced. The company is also optimizing its various deposits to ensure a steady supply of ore to the processing plant, with mining at Myhree and Boundary pits proceeding ahead of schedule. This acquisition marks a significant step in Black Cat’s growth strategy, potentially enhancing its market position and operational capabilities.

Black Cat Syndicate Ltd. Announces Quotation of New Securities on ASX
Mar 31, 2025

Black Cat Syndicate Ltd. has announced the quotation of 19,739,439 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of March 31, 2025. This move is part of previously announced transactions and is expected to enhance the company’s market presence and provide additional capital for its ongoing projects, potentially impacting its operational growth and stakeholder interests.

Black Cat Syndicate Completes Lakewood Facility Acquisition
Mar 31, 2025

Black Cat Syndicate Limited has completed the acquisition of the Lakewood processing facility, issuing 19,739,439 fully paid ordinary shares to Westgold Resources Limited as part of the transaction. This strategic move enhances Black Cat’s operational capabilities and strengthens its position in the mining sector, potentially impacting stakeholders by increasing the company’s processing capacity and market reach.

Black Cat Syndicate Addresses ASX Inquiry on Share Price Surge
Mar 28, 2025

Black Cat Syndicate Ltd. has responded to an ASX inquiry regarding a notable increase in the price and trading volume of its shares. The company stated that it is not aware of any undisclosed information that could explain the recent trading activity, attributing the changes to recent announcements and the general strength of the gold market. Black Cat Syndicate confirmed its compliance with ASX listing rules and assured that its response was approved according to its continuous disclosure policy.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 27, 2025