Catalyst Metals sets higher production target at Henty after exceeding FY guidance

ASX-listed junior gold miner Catalyst Metals has told shareholders it produced 25,199 ounces of gold over the 2022 Australian financial year from its Henty mine in Tasmania, just exceeding its guidance figure.

Catalyst produced 6,397 ounces of gold from the operation in the final quarter ending June 30, helping it over the 25,000 ounces guidance target the company had set for 2022.

“These results show that our growth strategy at Henty is working. We are increasing mining inventory through an aggressive drilling campaign and there is a solid trend of production growth,” said Catalyst CEO John McKinstry. “Importantly, this is capital-efficient growth because it is being achieved for a relatively small cost.”

Following the latest output growth at Henty, Catalyst aims to increase the 2023 production rate to 35,000 ounces per annum. This will be achieved by adding a new mining crew to the upper areas of the mine, McKinstry said.

The new mining crew will use equipment already on-site, while the processing plant will not need any new investment to handle the additional ore tonnes mined, noted Catalyst’s CEO.

“The key to increased production is developing access to new stoping areas in a timely manner. The addition of the new mining crew is critical to the mining plan. The new crew will commence in August 2022,” the company said.