Full year financial results – profitability driven by strong operational improvements
Catalyst's first profit has been three years in the making. Since acquiring the Henty gold mine in Tasmania in January 2021, Catalyst has been on a journey to become a gold producer of scale
After acquiring three companies over three years, and maturing from explorer to 110koz gold producer with two profitable gold operations, Catalyst has achieved this goal
Full year highlights include:
110koz of gold production with 60koz produced in the second half of the financial year
Revenue of A$317 million and no hedging heading into FY2025; the realised gold price of FY2024 was A$3,011/oz vs. today's average spot price of A$3,700/oz
EBITDA of A$63 million; A$76 million when adding back non-cash impairment of exploration
Operating cash flows (after capital and corporate costs) of A$71 million allowing repayment of inherited debt, investment in equipment and project development
Profit after tax but excluding impairment of exploration assets (a non-cash accounting entry) of A$37 million; profit after tax and impairments was A$24 million
Liquidity at 30 June 2024 was A$46 million; this comprised cash and bullion of A$38 million and undrawn facilities of A$8 million
These positive financial results reflect Catalyst's first 12 months of operating performance at the Plutonic Gold Mine
Catalyst has entered the new financial year with a strong balance sheet, stable operating cashflows and full exposure to prevailing gold prices
Catalyst is progressing near-term, low capital intensity, organic growth projects, both in-mine at Plutonic and near mine at Plutonic East, K2 and Trident (each deposits along the Plutonic Gold Belt)
PERTH, Australia, Sept. 13, 2024 /PRNewswire/ - Catalyst Metals Limited (Catalyst or the Company) (ASX: CYL) is pleased to report its full year financial results for FY2024. These results reflect the first full 12-months of ownership of the consolidated Plutonic Gold Belt, following the acquisition of TSX listed Superior Gold Inc. and ASX listed Vango Mining Limited in June 2023.
Catalyst's MD & CEO, James Champion de Crespigny, said:
"It is always pleasing for any company to report its maiden profit.
What we are taking most pride in is the collective efforts of the new Catalyst team over the last 12 months. They've demonstrated an ability to consolidate the Plutonic Gold Belt while improving operating efficiencies by 40%. This maiden profit is a testament to the team's persistence and we look forward to implementing the next phase in the company's life - our growth and expansion plans across the Plutonic belt.
"A few comments that might interest shareholders:
Profit after tax of A$24 million. Profits after tax but before impairments were A$37 million – we think the latter is more reflective of the company's performance;
Operating cashflows (after corporate and capital costs) are similar to EBITDA. This is uncommon for underground mines. It ...
