Catalyst may buy gold plant from Unity

 Catalyst Metals may acquire Unity Metals’ Kangaroo Flat gold plant and Bendigo assets.

The two have signed an option agreement that gives Catalyst a year to acquire the Kangaroo Flat gold plant, equipment, and facilities from Unity.

Catalyst has the right to acquire the 600 000 tonne per annum gold plant at a cost of approximately $65 million, which will accelerate production at the miner’s Four Eagles Gold project, north of Bendigo.

Bruce Kay, Catalyst’s technical director, explained that "this agreement provides Catalyst with a unique opportunity to achieve early gold production from any resource defined at the Four Eagles project….without the high capital cost and delays in building a new plant".

The agreement will see Unity own between 15% and 25% of Catalyst.

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