Kaiser Reef Ltd (ASX:KAU) is undergoing a transformation as it acquires the Henty Gold mine from Catalyst Minerals (ASX:CYL) which should drive a step change in the production profile of the company from <12kozpa to 37kozpa (proforma) with scope to increase to 50kozpa+ in the medium term. Post the funding package completed alongside the acquisition, KAU has $27.2m in cash which can support the incremental investments into its mining operations to achieve the stated production targets.