Catalyst ends year with gold production at Plutonic up 41% year-on-year and only minor increase in costs

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Jul 23, 2024, 08:00 ET

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, Australia, July 23, 2024 /PRNewswire/ - Catalyst Metals Limited (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.

Figure 1: Plutonic TRIFR at 30 June (CNW Group/Catalyst Metals LTD.)

Figure 2: Plutonic comparative 12 month production to 30 June (CNW Group/Catalyst Metals LTD.)

Figure 3: Plutonic historical AISC and realised gold price (CNW Group/Catalyst Metals LTD.)

Figure 4: Plutonic underground ore mined for 12 months to 30 June (CNW Group/Catalyst Metals LTD.)

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
Note 2: Production in FY2022 and FY2023 included open pit mining

This announcement has been approved for release by the Board of Directors of Catalyst Metals Limited.

SOURCE Catalyst Metals LTD.