Catalyst Metals (ASX:CYL) has reported results for the December quarter, highlighting ongoing growth and increased production.
The company achieved a group gold production of 28.4koz, with output from its Plutonic and Henty operations reaching 21.8koz and 6.6koz respectively.
This production has contributed to Catalyst's strengthened financial position, leaving them debt-free after settling a gold loan inherited from the acquisition of Superior Gold.
The company concluded the quarter with $84 million in cash and bullion, marking a $26 million rise since the end of September.
Catalyst's strategic expansion is underscored by the development of the Plutonic East mine, which remains on schedule, with the first ore mining expected this quarter.
The number of drill rigs on-site has grown from two to eight over the last year, indicating intensified exploration efforts.
Managing Director and CEO, James Champion de Crespigny, commented, "Since Catalyst consolidated the Plutonic Gold Belt, it has been able to grow its cash balance quarter on quarter. It has also been able to invest in growth – a second mine, Plutonic East, will open this quarter."
Catalyst is on track to meet its annual guidance of 105-120koz of gold, navigating with an all-in sustaining cost of $2,300 to $2,500.
Looking forward, the company plans to ramp up exploration with a 180,000m drilling program and aims to introduce the K2 and Trident mines within the next year.
The company's focus on enhancing operational capacity and maintaining a strong financial position aligns with its long-term strategic goals.
Catalyst's initiatives demonstrate a commitment to sustainable growth and resource efficiency.
At the time of reporting, Catalyst Metals' share price was $2.81.