Catalyst Metals nears Trident underground start to double Plutonic gold output

An update from Catalyst Metals Limited ( (AU:CYL) ) is now available.

Catalyst Metals is advancing its Trident underground gold project on the Plutonic Gold Belt, where a starter open pit is nearing completion and grade control drilling has been completed for the first 15 months of underground production. Trident, located 30km from the existing Plutonic plant, hosts underground reserves of 397,000 ounces at 5.0g/t and resources of 795,000 ounces at 5.3g/t, and is expected to deliver about 60,000 ounces a year for roughly a decade.

The latest drilling returned multiple high-grade, broad intercepts that confirm the consistency and width of the Trident orebody, underpinning Catalyst’s plan to double Plutonic’s annual production from about 100,000 to about 200,000 ounces. Trident underground will be the fourth mine brought online in the belt in 18 months, reflecting a repeatable development formula that the company says reduces ramp-up risk and supports its goal of expanding reserves from 1.5 million to around 2 million ounces and securing a 10-year mine life for the Plutonic operations.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$11.00 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 Plutonic Gold Belt in Western Australia and a large land position north of the historic Bendigo goldfield. Its flagship Plutonic Belt assets currently produce about 100,000 ounces of gold per year from three mines, processed through an underutilised 2Mtpa CIL plant, with a strategy to lift output to around 200,000 ounces annually.

Average Trading Volume: 1,199,153

Technical Sentiment Signal: Buy

Current Market Cap: A$1.72B

Learn more about CYL stock on TipRanks’ Stock Analysis page.