Catalyst ends year with gold production at Plutonic up 41% year-on-year and only minor increase in costs
Catalyst begins FY25 with a stronger balance sheet and a pipeline of low-cost, organic growth options
- Catalyst acquired Plutonic on 1 July 2023; it has now operated it for 12 months
- Under Catalyst's ownership, Plutonic produced 85koz; this compares to 60koz in FY23 (previous owners)
- Total operating costs (after capital and corporate costs) increased by only A$11m1 year-on-year
- This performance allowed Catalyst to end year with A$37m1 of cash and bullion on hand and A$45m of available liquidity
- Debt has reduced to A$8m, from A$36m
- Henty quarterly production was 6,926oz - the most successful production record under Catalyst - continuing its trend to 30koz per annum
PERTH, July 23, 2024 - Catalyst Metals Ltd. (Catalyst or the Company) (ASX: CYL) is pleased to advise that it has achieved annual group production of 110koz.
Group gold production includes the first 12 months of Plutonic production under Catalyst's ownership, following the consolidation of the Plutonic Gold Belt on 1 July 2023. Plutonic produced 85koz for the FY24 year compared to 60koz in FY23 - a 41% increase - with only an $11m increase in costs.
At 30 June 2024, Catalyst held A$37m in cash and bullion. Debt remaining comprises a gold loan of 2,220oz of gold which is to be repaid in six monthly repayments of 370oz to December 2024. This comprises 2% of annual production.
Catalyst's Managing Director & CEO, James Champion de Crespigny, commented:
"It has been a big year for Catalyst. Producing well over 100koz of gold, repaying A$28m of debt and still growing our cash balance.
Now, with Plutonic stabilising, we are able to focus on developing Trident and Plutonic East which will see our production grow to over 150koz.
Catalyst is entering the next financial year in a balanced position with a long pipeline of near term, low capital, organic growth options."
| Note 1: Results presented are unaudited |
| Note 1: Historical data is unaudited and sourced from internal production and management reports |
This announcement has been approved for release by the Board of Directors of Catalyst Metals Limited.
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SOURCE Catalyst Metals LTD.
Contact
Investors and Media: Craig Dingley, Catalyst Metals, T: +61 (8) 6324 0900, investors@catalystmetals.com.au; Fiona Marshall, White Noise Communications, T: +61 400 512 109, fiona@whitenoisecomms.com