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An announcement from Catalyst Metals Limited ( (AU:CYL) ) is now available.
Catalyst Metals has reported further encouraging drill results at the Cinnamon trend on the Plutonic Gold Belt, confirming a 400-metre-long high-grade gold zone beneath the existing Cinnamon open-pit resource that remains open along strike and at depth. The discovery suggests Cinnamon could become a sixth underground ore source alongside Plutonic Main, Plutonic East, Trident, K2 and Old Highway, potentially feeding into the company’s 10-year plan to double Plutonic Belt production from about 100,000 to 200,000 ounces a year and further de-risking that growth profile by converting exploration targets into resources and reserves, while also supporting the case for future expansion options such as a possible restart of a second processing plant at Plutonic.
The most recent analyst rating on (AU:CYL) stock is a Hold with a A$10.00 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 40km-long Plutonic Gold Belt in Western Australia, where it operates three mines—Plutonic Main, Plutonic East and Trident—producing around 100,000 ounces of gold per year at an all-in sustaining cost of A$2,300 per ounce. The company is bringing three additional mines, Trident, K2 and Old Highway, into production through an underutilised, centrally located 2Mtpa CIL processing plant, with the aim of lifting reserves from about 1.5Moz to roughly 2Moz and annual output from about 100,000 to 200,000 ounces over a planned 10-year mine life. Catalyst also controls a processing plant and more than 75km of strike north of the historic Bendigo goldfield in Victoria, where it has delineated a high-grade greenfield resource and expects further discoveries, and reports a mineral resource estimate of 4.2Moz at 3.2g/t Au and ore reserves of 1.5Moz at 2.6g/t Au, supported by a strong balance sheet with A$238m in cash and no debt.
Average Trading Volume: 1,154,677
Technical Sentiment Signal: Buy
Current Market Cap: A$2.35B
For a thorough assessment of CYL stock, go to TipRanks’ Stock Analysis page.