Catalyst Metals (CYL) Q4 2026 TU earnings summary

Executive summary

• Record quarterly gold production of 31,886oz at an AISC of A$2,666/oz, with annual production of 103,761oz and AISC of A$2,738/oz, both in line or better than guidance.

• Cash and bullion increased by A$54m in the quarter to A$331m, with total available liquidity of A$431m including an undrawn A$100m facility.

• Four mines are now in production, with K2 commencing commercial output and Trident transitioning to underground development.

• Significant progress on growth projects, including Trident, K2, Old Highway, and Cinnamon, supporting a long-term production target of ±200koz per annum.

Financial highlights

• Operating cashflow for the quarter was A$85m (including A$10m bullion increase), with A$9m reinvested in growth, A$4m in non-discretionary capital, and A$13m in exploration.

• Realised gold price averaged A$6,492/oz for the quarter and A$6,325/oz for the year.

• All-in sustaining cost (AISC) for the quarter was A$2,666/oz produced and A$2,734/oz sold; for the year, AISC was A$2,747/oz produced and A$2,738/oz sold.

• No debt at quarter end; undrawn A$100m facility provides strong liquidity.

Outlook and guidance

• FY27 production and AISC guidance to be updated in September 2026, reflecting changes in permitting, reserves, resources, and operational learnings.

• Targeting a 10-year mine life with annual production increasing from ±100koz to ±200koz as new mines come online.