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Catalyst sees improved operational performance following Superior Gold acquisition

Catalyst sees improved operational performance following Superior Gold acquisition
© Reuters.

In the wake of Catalyst’s acquisition of Superior Gold Inc., the company has reported enhanced operational performance, with September showing some of the best results in recent years. The improvements followed the consolidation of the Plutonic gold belt and the installation of a new management team at the Plutonic gold mine, both events taking place in June 2023.

The Trident Scoping Study has provided a roadmap for increased production through low-cost, high-grade supplementary ore sources. This approach has translated into notable gold sales figures, with total sales reaching 19,214oz. The Plutonic and Henty mines contributed significantly to this total, selling 15,515oz and 3,699oz, respectively, at an All-in Sustaining Cost (AISC) of A$2,507 /oz and A$3,215 /oz.

In addition to these developments, Catalyst received the Trident Small Mining Operations Proposal from the Department of Mines, Industry Regulation and Safety (DMIRS). This proposal covers surface and decline development and comes as part of a broader plan for exploration across the Plutonic Gold Belt. To support an updated Mineral Resource, an infill drill program was completed at Trident.

The company’s financial status as of September 30th revealed A$22.8 million (USD1 = AUD1.5774) in cash and $31.4 million in loan facilities. This includes a reclassified working capital loan which has been transitioned to debt.

In line with these strategic moves, David Jones AM was appointed Chairman with a focus on stabilizing production and costs. His role will be crucial in overseeing the ongoing operational improvements and exploration initiatives.

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