S&P/ASX 300 Index (ASX: XKO) gold stock Black Cat Syndicate Ltd (ASX: BC8) is leaping higher today.
Black Cat shares closed on Friday trading for $1.045. In earlier morning trade on Monday, shares jumped to $1.135, up 8.6%. At the time of writing, shares are changing hands for $1.128 apiece, up 7.9%.
For some context, the ASX 300 is up 0.1% at this same time.
Here's what's catching investor interest.
ASX 300 gold stock rockets on growth plans
Black Cat shares are surging today after the miner released an update on its ambitious 2026 exploration and growth plans at its Coyote Gold Operation, located in Western Australia.
The ASX 300 gold stock aims to kick off drilling in June, noting that prior drill campaigns at the project have "consistently" intersected gold mineralisation.
Black Cat said it will spend $11 million in the 2026 field season to deliver 35,000 metres of drilling at Coyote. That's more than three times as much as the miner has drilled since acquiring the project.
The company aims to expand the current Resource, which stands at 645,000 ounces at 5.5 grams of gold per tonne.
What did Black Cat management say?
Commenting on the upcoming drill campaign that's boosting the ASX 300 gold stock today, Black Cat managing director James Bruce said, "This discovery program is one of the largest drilling investments in Coyote's history and will build on the successful high-grade discoveries at Coyote over twenty-five years ago."
Bruce added:
The aim is to extend mineralisation to 850 metres depth to materially strengthen the underground Resource and unlock additional high-grade gold potential.
Coupled with existing surface infrastructure and the extremely high-grade nature of the orebody, this discovery program will better define the opportunity to develop a modern efficient underground operation at a scale that creates value for Black Cat.
What else is happening with the ASX 300 gold stock today?
Separately, Black Cat reported on its Barrenjoey Emerging Gold Investor Day presentation today.
The ASX 300 gold stock highlighted that its three West Australian gold mines have an FY 2026 production rate of 100,000 ounces of gold.
And with global gold prices remaining at historic highs, management noted that Black Cat remains 100% unhedged. This saw the miner achieve a realised gold price of $6,817 per ounce.
As for funding its growth ambitions, Black Cat has no debt and $92 million in cash and investments.
Black Cat generated $61 million of operating cash flow in the March quarter.
The post This ASX 300 gold stock is leaping 9% today on major growth news appeared first on The Motley Fool Australia.
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