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Catalyst Metals Limited ( (AU:CYL) ) has issued an announcement.
Catalyst Metals has outlined rapid progress at its K2 satellite gold mine on the Plutonic Belt, a historically mined but largely unexplored deposit that lay dormant since the late 1990s and sits 40km from the company’s Plutonic processing plant. With a current resource of 81,000 ounces at 3.6 g/t and a reserve of 20,000 ounces at 4.3 g/t, Catalyst has spent the past year rehabilitating the existing decline, installing surface infrastructure and undertaking grade control drilling that has returned multiple high-grade intercepts, while also deploying rigs for resource extension and down-dip exploration to expand the mineralised footprint. K2 is now the fourth of five mines being brought into operation in about two and a half years, and, alongside the Trident and Old Highway underground mines, is expected to provide higher-grade ore that increases the blended feed grade through Plutonic’s central plant, reduces unit costs and underpins the company’s plan to grow Plutonic Belt output from around 100,000 to 200,000 ounces of gold annually over a 10-year horizon.
The most recent analyst rating on (AU:CYL) stock is a Buy with a A$12.51 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.
More about Catalyst Metals Limited
Catalyst Metals Limited is an Australian gold producer focused on the 40km Plutonic Gold Belt in Western Australia, where it operates three existing mines processing about 100,000 ounces of gold per year through an underutilised 2Mtpa CIL plant at an all-in sustaining cost of roughly A$2,300/oz. The company is developing three additional higher-grade underground mines—Trident UG, K2 and Old Highway—to lift reserves from 1.5Moz toward 2Moz and double annual production to around 200,000 ounces, while also holding a processing plant and extensive strike north of the historic Bendigo goldfield, where it has delineated a high-grade greenfield resource.
Average Trading Volume: 1,162,813
Technical Sentiment Signal: Buy
Current Market Cap: A$2.46B
Learn more about CYL stock on TipRanks’ Stock Analysis page.