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Gold
Bid : 3,084.16/oz
Ask : 3,093.42/oz
Silver
Bid : 36.82/oz
Ask: 36.93/oz
Platinum
Bid: 1,369.13/oz
Ask : 1,404.73/oz
Refresh in 00:00

Strong September gold production at Plutonic under new management shows the mettle of Catalyst Metals

September 3, 2023

Catalyst Metals Ltd (ASX:CYL) has delivered impressive initial results since assuming control of the historic Plutonic Gold Mine in Western Australia’s mid-west region. The site produced 6,694 ounces of gold in September – a considerable improvement over performances in previous years under prior ownership.

All key operating metrics saw gains under Catalyst’s leadership compared to 18 months ago. Gold output rose 17% while ore processed increased 37%. Material movement and underground development metres were up 24% and 23% respectively.

Notably, these results were achieved using existing equipment currently on site. Catalyst expects even better outcomes as new machinery placed on order arrives in the coming quarters. Managing Director James Champion de Crespigny said “We’re thrilled with the team’s first quarterly results. Improvements of this nature take considerable planning and effort. It demonstrates the positive direction the operation is headed under our guidance.”

Catalyst assumed control of Plutonic from Superior Gold on June 30th following the acquisition. A transition team was installed at the mine led by de Crespigny prioritizing cultural and strategic changes. Their work is already paying off according to the MD: “Obviously, these quarterly results are a considerable improvement on past performance.

We have set ourselves the objective of delivering consistent output each period. I believe we have the right small, focused group to achieve this.”

The company will aim to build on this solid start. Under Catalyst’s experienced management, Plutonic is shaping up to fulfil its potential as a historically robust Australian gold mine once again. With a reinvigorated team driving continuous performance gains, the revitalized operation appears well positioned for a bright future.

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