Catalyst Metals targets annual production of 200koz

• Catalyst Metals announced record gold production from the Plutonic Gold Belt.
• The company maintained its net cash position with zero debt and $32.3 million in cash and bullion.
• The miner intends to bring three new mines into production to extend the asset's lifespan to over 10 years.

Catalyst Metals (ASX:CYL) reported record gold production from its flagship Plutonic Gold Belt asset in Western Australia.

The asset currently produces approximately 100,000 ounces of gold annually at an all-in sustaining cost of $2,750 per ounce.

The company stated that it is bringing three new mines into production to utilise its central processing facility.

Following the announcement, the Catalyst Metals share price was unchanged at $5.80.

The company stated that these projects are expected to increase its gold reserves to two million ounces.

The business stated that these expansions are intended to extend the project's mine life beyond 10 years.

Additionally, the company controls a separate processing plant located north of the historic Bendigo goldfield.