Black Cat Syndicate Limited has parted ways with Managing Director Mr. James Bruce, with the executive's departure taking effect on 4 September 2026.

The board determined that a leadership change serves the company's best interests at this stage. Under the terms of his employment contract, Mr. Bruce will receive payment for accrued entitlements alongside a payout covering his six-month notice period.

The departing executive retains 51,724 vested performance rights issued through the company's FY 2025/26 long-term incentive plan, which remain exercisable under their original terms. All unvested performance rights held by him or his nominee have lapsed.

Black Cat's current executive team is managing ongoing operations while the board prepares a separate announcement regarding further leadership changes.

The executive transition follows a strong operating period for the gold producer. Black Cat fully recouped the $106 million invested in the acquisition and restart of the Paulsens Gold Operation from operating cash flow during FY2026.

Read the full announcement: Board Changes - Managing Director Termination