Meaningful next step in in Catalyst's digestion of the Plutonic Gold Belt
- Catalyst has repaid the first (
$9.075 million ) tranche of a convertible note inherited following completion of the takeover of Vango Mining Limited - Repayment funded by drawing on its existing revolving working capital gold loan provided by Catalyst's existing financier,
Auramet International Inc - This repayment of Tranche 1 of the convertible note is the next meaningful step in Catalyst's consolidation and simplification of the Plutonic Belt
In
When Catalyst consolidated the Plutonic Belt through the acquisition of Superior Gold Inc and Vango, it inherited various challenging issues it needed to overcome including the turnaround of underperforming operations, settling of multiple legal disputes, normalisation of creditor positions and a suboptimal capital structure. The repayment of the first tranche of the convertible note is a further step in the consolidation and simplification of the companies Catalyst acquired and their underlying assets.
The working capital gold loan is for
This announcement has been approved for release by the Board of Directors of
Auramet is one of the largest physical precious metals merchants in the world with over
It owns the 40km long Plutonic Gold Belt in
It also owns and operates the high-grade
Catalyst also controls +75km of strike length immediately north of the +22Moz Bendigo goldfield and home to high-grade, greenfield resources at Four Eagles.
Shares o/s: 220m
Options: 3.4m
Rights: 3.5m
Non-Executive Chairman
Managing Director & CEO
Non-Executive Director
Non-Executive Director
ASX: CYL
E: investors@catalystmetals.com.au
W: catalystmetals.com.au
Level 1,
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