Catalyst Metals (ASX:CYL) raises $22M for gold company acquisition

Catalyst Metals (ASX:CYL) has raised $22M in a placement at $1 per share to fund development and exploration activities across the Plutonic-Marymia gold belt and to complete the acquisition of Superior Gold.

The Placement was supported by long-term shareholder and strategic partner Hancock Prospecting, as well as former major shareholders and directors of Vango Mining, several of Superior's largest shareholders, as well as long-term shareholders.

Catalyst Metals owns and operates the high-grade Henty Gold Mine in Tasmania, the Marymia Gold Project in Western Australia, and the Plutonic Gold Mine in Western Australia.

The Plutonic Gold Mine is estimated to have a mineral resource of 5.9 million ounces, a JORC resource of 1 million ounces, and a 3 million tonne per annum processing plant.