Catalyst Metals ( ASX: CYL)
Recorded quarterly production at Plutonic of 28,176oz of gold under Catalyst ownership.
Settlement of inherited legal dispute paves the way for acceleration of mining and
exploration at Plutonic’s fourth ore source – K2.
,
Catalyst Metals Mining, picture courtesy of Catalyst Metals
.
| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$2.15 Billion @ A8.26 | |
| Location | Murchison, Victoria, Australia | |
| Website | www.catalystmetals.com.au |
.
Catalyst Metals Reports Record Plutonic gold production
Catalyst Metals ( ASX: CYL) recorded quarterly production at Plutonic of 28,176oz of gold under Catalyst ownership.
Settlement of inherited legal dispute paves the way for acceleration of mining and
exploration at Plutonic’s fourth ore source – K2.
Quarterly Highlights
• Record quarterly production at Plutonic of 28,176oz of gold under Catalyst ownership
• Settlement of inherited legal dispute paves the way for acceleration of mining and
exploration at Plutonic’s fourth ore source – K2
.
Production
• Three mines were operating across the Plutonic Belt during the quarter – Plutonic Main, Plutonic East and Trident open pit
• Gold produced for the quarter was 28,176oz at an average AISC of A$2,565/oz produced (AISC of $2,776/oz sold)
• Catalyst retains guidance of 100 – 110koz of gold at an AISC of A$2,200/oz – A$2,650/oz
Growth & Exploration
• Development of K2 continues to progress with first ore expected before 30 June 2026
• Mining of the Trident open pit expected to conclude in the first half of CY2026 with
development of the underground mine commencing soon after
• Exploration activities continued at Old Highway and Cinnamon, targeting Resource
growth
• Drill rigs mobilised to K2 to commence a range of programs including Resource growth, grade control and step out drilling
• Drilling results at Cinnamon including 22m at 14.3g/t Au and 7m at 29.8g/t Au doubled
the strike length of the Cinnamon trend and opened up high-grade potential beneath
the existing Resource
• Exploration drilling resumed in Bendigo, while approval was obtained for the exploration tunnel at Four Eagles. The remaining 49% ownership in the Tandarra project was also acquired during the quarter
Financial and Corporate
Operating cashflow (after all sustaining capital and corporate costs) was A$74m. Of this, A$5m was then spent on non-discretionary capital (power station, camp etc), A$22m on non-recurring items (legal settlement, stamp duty), A$16m on discretionary growth capital (Trident, K2 & OHW project development) and A$24m on exploration
Cash and bullion at quarter end was A$238m, an increase on the prior quarter while
maintaining increased exploration and development project spend, and settling legal
disputes.
Catalyst is debt free and holds an undrawn A$100m corporate revolving facility, providing liquidity of A$338m
Catalyst Metals’ flagship asset is the 40km long Plutonic Gold Belt in Central
Western Australia. This belt currently produces ~100koz pa at a target AISC of
A$2,425/oz from two mines at Plutonic Main and Plutonic East.
Catalyst is currently bringing three new mines into production – Trident, K2 &
Old Highway. Each will be processed through the existing, underutilised and
centrally located 2Mtpa CIL processing plant.
Exploration is targeting down dip extensions of each of these deposits.
With the development and exploration of these five deposits, Catalyst aims to
increase Reserves and production from 1.5Moz to ±2Moz and ±100koz to
±200koz annually.
.
.
MANAGEMENT COMMENTARY
“Record gold production for the quarter is pleasing. The operating risk for the business continues to fall as new mines come online.
“Before 30 June we will be producing from four mines on the belt – a terrific outcome from the team considering less than two and a half years ago Plutonic was near bankrupt, producing from only one mine!
“Exploration results at Cinnamon are encouraging as are further results expected this quarter from Trident, Old Highway and K2.”
.
To read the full report please click HERE
=======
To view the latest share price and chart, please click HERE
To View Catalyst Metal’s historical news, please click here
.
=======
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
Disclosure
At the time of writing the author holds shares in Catalyst Metals
.