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Catalyst Metals Limited ( (AU:CYL) ) has provided an announcement.
Catalyst Metals Limited has announced the acquisition of the Old Highway Gold Project from Sandfire Resources for A$32.5 million. This strategic acquisition, located 40km from the Plutonic processing plant, is expected to lower development costs and provide additional ore sources for the underutilized plant. The project includes a resource of 206,000 ounces of gold, with potential for further exploration to extend its mine life. The acquisition marks Catalyst’s expansion beyond the Plutonic Belt and is funded through existing cash reserves and proceeds from a previous sale.
More about Catalyst Metals Limited
Catalyst Metals Limited is a company operating in the gold mining industry, primarily focused on the Plutonic Gold Belt in Central Western Australia. The company manages the Plutonic Gold Mine, which produces approximately 85,000 ounces of gold annually. Catalyst is actively expanding its operations with low capital intensity projects and exploring new ore sources to enhance its processing capabilities.
Average Trading Volume: 1,467,803
Technical Sentiment Signal: Buy
Current Market Cap: A$1.32B
For an in-depth examination of CYL stock, go to TipRanks’ Stock Analysis page.