Catalyst Metals reaches financial milestone

Catalyst Metals (ASX:CYL) has announced the successful repayment of its final gold loan instalment, rendering the company debt-free. This marks a significant financial achievement following the acquisition of the Plutonic Gold Belt, which initially added AUD 36 million of debt. The company has managed this repayment through operational cash flows.

Catalyst Metals plans for growth and expansion

Catalyst Metals, now debt-free, has repaid AUD 36 million of debt from the Plutonic Gold Belt acquisition using operational cash flows. The company, with a robust balance sheet and AUD 58 million in cash and bullion, aims to double its annual gold production to 200,000 ounces within the next three years. This will be achieved through the development of new mining areas, focusing on Plutonic East, with first ore production expected in early 2025. Catalyst's strong capital structure and strategic operational plans highlight its ambition for growth and enhanced exploration activities.

CEO commentary on Catalyst's strategic positioning

We are pleased to announce that Catalyst is now debt-free after the final repayment of our gold loan. This achievement underscores our commitment to financial discipline and positions us strategically for organic growth. We are now well-placed to double our production and focus on new mining developments, particularly at Plutonic East, without the need for additional capital raising.