Catalyst Metals has secured full ownership of a critical area in Western Australia’s (WA) Plutonic gold belt following the settlement of a long-standing legal dispute.
The settlement enables Catalyst to advance mining and exploration programmes at the K2 mine and throughout the surrounding belt area.
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Catalyst consolidated the belt in 2023 following the acquisition of Vango Mining and a merger with Superior Gold.
Vango Mining was involved in several legal disputes.
Over the past two and a half years, Catalyst has systematically addressed and resolved each of the inherited disputes.
The latest settlement marks the conclusion of all outstanding legal matters related to the Plutonic gold belt, granting Catalyst 100% control over the area.
This part of the belt has remained largely unexplored and unmined since the 1990s.
To conclude the settlement, Catalyst agreed to hand over 4.2 million of its shares, paying A$15m ($9.79m) in cash upfront and adding another A$2m in six months.
The Plutonic gold mine is situated around 195km north-east of Meekatharra in the mid-west region of WA, at the northern end of the world-class Eastern Gold Fields Province.
The 40km-long Plutonic gold belt currently produces around 100,000oz per annum at an average all-in sustaining cost of A$2,450/oz from two mines at Plutonic Main and Plutonic East.
Currently, Catalyst is bringing three new mines, Trident, K2 & Old Highway, into production. Each will be processed via the existing, underutilised and centrally situated two million tonnes per annum CIL processing facility.
At present, production ore is sourced from the Plutonic Main underground mine.
