KEY POINTS
Quarter highlights
- Plutonic and Henty quarterly production 24,576oz and 6,926oz respectively – both representing the most successful production quarters under Catalyst ownership
- Cashflows from operations allowed Catalyst to end the quarter with $37m in cash and bullion, $45m liquidity and only $8m debt in the form of a 2,220oz gold loan repayable in six, monthly instalments
- Studies confirmed Trident and Plutonic East as near-term, low-cost development priorities
- Reported maiden Ore Reserve Estimate for Trident, increasing group Reserves to 793koz
Production
- Gold produced for the quarter totalled 31,502oz at an average AISC of A$2,352, comprising:
- Plutonic: 24,576oz gold produced at an AISC of A$2,291/oz
- Henty: 6,926oz gold produced at an AISC of A$2,524/oz
Discovery and Growth
- High grade assays from shallow drilling was incorporated into Trident's maiden Ore Reserve Estimate (ORE) of 188koz at 4.5g/t
- ORE provided the foundation for updated, lower cost, lower risk development Trident – key metrics at A$3,400/oz:
- $15m pre-production capital drawdown
- Initial 5.5 year life of mine; average underground production of 37koz pa
- AISC of A$1,592/oz
- Average annual free cashflow of A$53m; NPV7 A$198m
- Dewatering at Plutonic East underway with plans to commence rehabilitation and grade control in Q1 FY25
Financial and Corporate
- As of 30 June 2024, the Company held cash of $31m, bullion of $6m and undrawn facilities of $8m
- All inherited call options delivered into, leaving Catalyst unhedged – previous realised prices last quarter of $3,130/oz versus spot of A$3,490/oz (at end of quarter)
- Continued debt repayments totalling $11m, leaving only a 2,220oz gold loan
PERTH, Australia, July 24, 2024 /PRNewswire/ -
OVERVIEW