Catalyst Metals shares lift following record production in December quarter
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The news: Catalyst Metals shares lifted in morning trade after telling the exchange it delivered record quarterly gold production in the three months to December.
The numbers: At 10:51am AEDT, shares in Catalyst Metals had lifted 2.2% to $7.84.
Catalyst produced 28,176 ounces of gold in the December quarter, at an average all-in sustaining cost of $2,565 per ounce produced and $2,776 per ounce sold.
The average realised price in the quarter was $6,322 per ounce and generated $74 million of cash from operations.
The miner reiterated full-year production guidance of between 100 to 110 kilo ounces at an all-in sustaining cost of $2,200 to $2,650 per ounce.
The context: Open pit operations at the Trident open pit remains on track for completion before 30 June 2026. This would enable underground development to commence. Drilling is also ongoing at several earlier stage deposits.
In the near term Catalyst is hoping to define roughly reserves of two million ounces at the Plutonic Gold Belt to increase overall production from 100 kilo ounces to 200 kilo ounces for 10 years.
What they said: “Record gold production for the quarter is pleasing. The operating risk for the business continues to fall as new mines come online,” management told the exchange.
“Before 30 June we will be producing from four mines on the belt – a terrific outcome from the team considering less than 2.5 years ago Plutonic was near bankrupt, producing from only one mine!”
The source: ASX
