Catalyst Metals (CYL) H1 2025 earnings summary

Executive summary

• Achieved net profit after tax of $46.3m for the half-year ended 31 December 2024, reversing a prior year loss of $6.8m and representing a 783% increase compared to the prior half year.

• Revenue rose 67% year-over-year to $224.1m, driven by higher gold sales and prices.

• Ended the period debt free, with $84m in cash and bullion on hand, enabled by strong operational cashflows.

• Announced a three-year organic growth strategy targeting a doubling of production across the Plutonic Gold Belt at an estimated cost of $31m.

• Production improvements at both Plutonic and Henty mines contributed to financial performance.

Financial highlights

• Gold sales increased 28% year-over-year to 58,435oz, with a realised average price up 31% to $3,830/oz.

• EBITDA before extraordinary items was $88.4m, up 258% from the prior year.

• EBIT reached $68.9m, compared to a loss of $3.8m in the prior year.

• Basic earnings per share was 19.78 cents, compared to a loss of 2.89 cents per share last year.

• Cash flow from operating activities was $103.5m, up from $17.5m in the prior period.

Outlook and guidance

• Three-year growth plan aims to double production across the Plutonic Gold Belt, with four mines feeding the centralised Plutonic processing plant.

• Group gold production is forecast to reach 200koz annually within 12 to 18 months as three new mining areas come online.

• Exploration drilling program of 320,000m planned over the next 12 months across ten targets.

• Henty Gold Mine studies ongoing for potential plant expansion to 350,000–400,000 tonnes per annum.