Catalyst Announces First Stoping Ore From Plutonic East
Catalyst Metals (ASX: CYL)
Announced first stoping ore at Plutonic East.
Plutonic East is the first of three mines to be developed by Catalyst in its plan to double production across the Plutonic Gold Belt for A$31m over the coming 12-18 months.
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| Catalyst Metals | ASX : AUT | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$1 Billion @ A$4.63 | |
| Location | Murchison, Western Australia | |
| Website | https://catalystmetals.com.au |
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Catalyst Metals – First stoping ore from Plutonic East
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Catalyst continually striving to lower operating risk of Plutonic Belt operations
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Catalyst Metals Limited (ASX:CYL) (Catalyst or the Company) is pleased to announce first stoping ore at Plutonic East.
Plutonic East is the first of three mines to be developed by Catalyst in its plan to double production across the Plutonic Gold Belt for A$31m over the coming 12-18 months
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First stoping ore at Plutonic has been achieved on-time and budget, having been funded through operating cashflows.
The smaller development costs and shorter lead time for Plutonic East’s development reflects the established infrastructure and sunk capital across the Plutonic Gold Belt.
• Plutonic East is a pre-existing underground mine situated 2km from the Plutonic processing plant
• Catalyst began redevelopment activities in April 2024; Catalyst is today pleased to announce first stoping ore
• Plutonic East ore will be processed via the currently underutilised Plutonic processing plant
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• The reasoning behind re-opening Plutonic East was two-fold:
o Firstly, Plutonic’s main ore source is the Plutonic underground mine; at present it is predominantly a remnant mine and by opening up Plutonic East, our operational team will have more ore sources, more mining fronts and therefore lower operating risk; and
o Secondly, the Plutonic Gold Belt has several new mines it plans to open; as a newly formed team, Plutonic East presents a lower risk development proposition and therefore attractive training ground for these other mines
• Bringing Plutonic East online is Catalyst’s first step in demonstrating its ability to develop the Plutonic Gold Belt
Catalyst acquired the Plutonic Gold Belt 20 months ago. In that time, it has turned Plutonic from loss making to profitable, cleaned up its balance sheet, settled a myriad of inherited legal disputes, is executing on a belt wide 320,000 metre exploration program and has now brought its first of three new mines into operation,
Catalyst will now begin turning its attention to the development of the two next development opportunities on the Plutonic Gold Belt – K2 and Trident
Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:
“Catalyst’s focus has always been about the long-term value of the Plutonic Gold Belt, not just the Plutonic main underground mine.
“Plutonic East coming online is the first step in realising the value of the belt.
“It gives more ore sources and more options to our team and lowers the operating risk profile of the business”
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To read the full news release please click HERE
The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Catalyst Metals.
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