1Moz reserve allows Catalyst to double production for A$31m
ASX-listed Catalyst Metals has unveiled its three-year production guidance and announced an increased ore reserve estimate of one-million ounces of gold.
These reserves provide the foundation for Catalyst’s three-year production guidance, growing production from 100 000 oz/y to 200 000 oz/y.
The doubling of production will require a pre-production capital expenditure of A$31-million, set to be spent over 18 months on three separate mine developments – Plutonic East, K2 and Trident. Each development will occur one after the other.
In addition, a A$25-million exploration campaign is planned for the 2025 financial year. This includes a resource drill-out of each of the three deposits in an effort to extend their mine lives to five years, as well as drilling out of each of the nine new in-mine areas at Plutonic and a A$7-million, 20 000 m reverse circulation exploration programme along two distinct corridors along the Plutonic belt to generate future resource targets.
“A year after consolidating the Plutonic Gold Belt, Catalyst has a strong balance sheet, stable operating cashflows and a pipeline of low-cost developments,” said MD and CEO James Champion de Crespigny.
“What is all the more exciting is the opportunity to now turn our attention to growth through exploration. The Plutonic Gold Belt is an attractive exploration opportunity with the very real possibility of a significant discovery. The historically fractured and foreign ownership of Plutonic has led to a considerable lack of exploration along the belt. Furthermore, the fact it is a brownfields opportunity, without the need for Catalyst to go chasing potentially dilutive capital, is very exciting,” he said.
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