Catalyst Metals has achieved six consecutive quarters of stable production at its Plutonic gold mine near Meekatharra in Western Australia.
Plutonic produced 21,803 ounces (oz) of gold at an all-in sustaining cost (AISC) of $2265/oz during the December 2024 quarter, a result positioning Catalyst to achieve its 2024–25 financial year production guidance of 105,000–120,000oz at an AISC of $2300–$2500/oz.
The Henty gold mine produced 6594oz at an AISC of $2631/oz, bringing Catalyst’s total for the quarter to 28,397oz.
Catalyst plans to increase Plutonic’s processing throughput from the current 1.2-million-tonnes-per-annum (Mtpa) run rate to the 1.8Mtpa nameplate capacity over the next 12–18 months as it brings new gold mines online.
One of these deposits is Plutonic East, which has progressed dewatering and rehabilitation to pave the way for first ore to be sourced by March.
Catalyst is also ramping up its exploration efforts with eight drill rigs now active across the Plutonic gold belt, compared to only two a year ago, to complete a 180,000m drilling program.
“The December quarter marked a step change in our exploration and project development activities across the Plutonic gold belt,” Catalyst said.
“This investment in the belt is possible because of Plutonic’s stable foundation. Plutonic has consistently produced quarter-on-quarter under Catalyst’s ownership, leading to 12 months of continuous cash build.
“The coming calendar year will see Catalyst bring online three new mines, resulting in four mines feeding the underutilised Plutonic processing plant. Plutonic East is the first of these and progress toward mining continued during the December quarter.”
K2 and Trident are also expected to come online in the next 12 months, subject to final approvals. Trident’s underground mining proposal approved by the WA Government this week.
“As these mines are brought into production, Catalyst will focus on expanding each deposit’s mine life to five years or more,” Catalyst said.
“This will deliver a stable, five-year plan of four mines feeding a central processing facility. This is a stable operation and will support Catalyst’s increased focus on exploration in the coming years.”
Catalyst ended the December quarter debt-free with $84 million in cash and bullion, achieving a $26 million increase in liquidity since September 2024, marking four quarters of consecutive cash generation.
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