Catalyst Metals has reported gold production of 17,600 ounces for the September quarter. This figure is 2,000 ounces below the company’s initial target, which they attribute to reduced availability of their crushing circuit that was undergoing testing. Catalyst Metals is a gold producer focused on exploration and development in Victoria and Tasmania. The company aims to create shareholder value through the discovery, development, and operation of high-quality gold deposits.
Despite this quarterly shortfall, Catalyst Metals affirmed that it is still on track to achieve its full-year production guidance. The company anticipates producing between 100,000 and 110,000 ounces of gold. Furthermore, Catalyst Metals confirmed that it remains within its all-in sustaining-cost guidance range of $2,200 to $2,650 per ounce.
This production update comes as spot gold prices are trading near $US3982 per ounce in New York. Overnight trading indicates that gold prices are on pace for their largest annual increase since 1979. The December futures contract in New York, the most actively traded contract, also exceeded $US4000 for the first time, signalling continued strength in the gold market.
