Catalyst Metals has delivered Plutonic’s strongest gold production since 2013, three years after taking ownership of the Western Australian operation.
The 40km Plutonic Gold Belt in Western Australia (WA) produced 31,812oz in the June quarter and 104,000oz across the 2025–26 financial year, with four mines feeding the same processing plant.
“Three years’ ago, Plutonic was producing 15koz per quarter. This quarter we achieved +30koz, a doubling of production under Catalyst’s ownership,” Catalyst management said.
The annual result landed within Catalyst’s 100,000–110,000oz guidance range. Production came from Plutonic Main and Plutonic East, alongside the Trident open pit and K2 underground mine elsewhere on the WA belt.
K2 moved from development into ore production during the quarter. Grade reconciliation and ground conditions are tracking as forecast, while early gold recoveries may be higher than expected.
Continued progress would make K2 the third deposit Catalyst has developed on time and on budget since acquiring Plutonic.
Open pit mining at Trident finished in June, clearing the way for the underground mine now under development.
“With the Trident gold deposit’s development progressing well, its expected production contribution of ~15–20koz gold per quarter is looking increasingly likely,” Catalyst management said.
The upper end of that forecast is almost two-thirds of the gold produced across the entire Plutonic belt in the June quarter. Development and approvals are also progressing at Old Highway and Cinnamon, both planned as future ore sources for the existing plant.
New secondary and tertiary crushers were installed at the Plutonic processing plant during an extended April shutdown and are performing well so far.
Catalyst ended June with $323 million in cash and bullion, up $46 million over the quarter and $85 million in six months after exploration, capital and corporate spending.
The company has no debt and an undrawn $100 million facility, giving it $423 million in available liquidity as Trident, Old Highway and Cinnamon move towards production.
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