Catalyst Metals (CYL) H2 2026 earnings summary

Executive summary

• FY26 gold output reached a record 103,761 oz from four operating mines, within guidance of 100,000–110,000 oz; AISC was A$2,738/oz sold, below revised guidance.

• Revenue from continuing operations was A$631.9m and profit after tax was A$171.1m; operating cash flow rose to A$277.6m.

• Strategy targets +2Moz of Ore Reserves to support ~200koz annual production for 10 years, with six Plutonic Belt mines planned.

Financial highlights

• Continuing-operations revenue was A$631.9m versus A$361.4m in FY25; gross profit was A$314.6m versus A$150.1m.

• Continuing-operations profit after tax was A$171.1m versus A$92.4m; total FY25 profit of A$119.3m included A$26.9m from discontinued operations.

• EBITDA was A$302.7m and EBIT A$239.1m; basic EPS from continuing operations was 66.25 cents versus 40.48 cents.

• Net cash from operating activities was A$277.6m versus A$196.1m; cash and cash equivalents were A$309.5m at year-end.

• Legal settlement expense was A$49.4m, including A$29.5m in shares and A$17.0m cash consideration; it resolved the inherited Plutonic Belt tenement dispute.

Outlook and guidance

• Long-term plan targets +2Moz of Reserves and ~200,000 oz annual output for 10 years across six mines, supported by stockpiles and shared processing infrastructure.

• Trident underground first stoping ore is expected in H1 CY2027; once fully ramped, planned production is 60,000–80,000 oz annually.

• Old Highway development is expected to start in CY2027; its current Reserve supports a four-year mine life at ~35,000 oz annually, with drilling targeting an eight-year life.

• Processing plant investment continues through FY2027; Cinnamon studies and approvals are progressing as a potential sixth ore source.