KEY POINTS Quarter highlights Plutonic and Henty quarterly production 24,576oz and 6,926oz respectively – both representing the most successful production quarters under Catalyst ownership Cashflows from operations allowed Catalyst to end the quarter with $37m in cash and bullion, $45m liquidity and only $8m debt in the form of a 2,220oz gold loan repayable in six, monthly instalments Studies confirmed Trident and Plutonic East as near-term, low-cost development priorities Reported maiden Ore Reserve Estimate for Trident, increasing group Reserves to 793koz Production Gold produced for the quarter totalled 31,502oz at an average AISC of A$2,352, comprising: Plutonic: 24,576oz gold produced at an AISC of A$2,291/oz Henty: 6,926oz gold produced at an AISC of A$2,524/oz Discovery and Growth High grade assays from shallow drilling was incorporated into Trident's maiden Ore Reserve Estimate (ORE) of 188koz at 4.5g/t ORE provided the foundation for updated, lower cost, lower risk development Trident – key metrics at A$3,400/oz: $15m pre-production capital drawdown Initial 5.5 year life of mine; average underground production of 37koz pa AISC of A$1,592/oz Average annual free cashflow of A$53m; NPV7 A$198m Dewatering at Plutonic East underway with plans to commence rehabilitation and grade control in Q1 FY25 Financial and Corporate As of 30 June 2024, the Company held cash of $31m, bullion of $6m and undrawn facilities of $8m All inherited call options delivered into, leaving Catalyst unhedged – previous realised prices last quarter of $3,130/oz versus spot of A$3,490/oz (at end of quarter) Continued debt repayments totalling $11m, leaving only a 2,220oz gold loan PERTH, Australia, July 24, 2024 /CNW/ - OVERVIEW Operating models at Plutonic and Henty are now well established.  Both sites are consistently performing at elevated, and now entrenched, operating metrics.  Importantly the turnaround in in site safety has been maintained.  Under Catalyst's ownership TRIFR rates at Plutonic have nearly halved – safety remains a core focus for both sites. Plutonic produced at a ~100koz per annum run rate for the quarter, the highest quarterly production under Catalyst's ownership.  This was despite a transformer needing replacement which impacted production for 3 days.  Learnings from the turnaround of operations at Plutonic are now being implemented at Henty.  Production at Henty for the quarter was the highest under Catalyst's ownership and reflects the investment in equipment, improved planning and deployment of new people to the Henty site.  During the quarter, Henty continued construction of the tailings storage facility lift which is reflected in costs for the quarter. Catalyst's project development team has continued to prioritise the development and exploration opportunities across the belt.   The team has commenced re-estimating Resources and commenced engineering designs. Updates will be provided as this work progresses. In Victoria, the Company continues to progress plans for the submission of an Environmental Impact Statement for the proposed exploration access tunnel at Four Eagles. During the quarter Catalyst repaid the final $3m tranche of a convertible note acquired through the acquisition of Vango Mining Limited. MANAGEMENT COMMENTARY "This has been another successful quarter for the Company, with well-established operating models at both Plutonic and Henty delivering consistent gold production at the highest levels seen under Catalyst's ownership. "Our near-term development plans are progressing at pace, with additional deposits expected to come online to provide additional ore feed for the under-utilised Plutonic mill in 2025.  We are extremely pleased with the faster-than-expected dewatering at Plutonic East, with existing permits and  infrastructure allowing for a rapid and low-cost restart. Similarly, the shallow high-grade results from drilling at Trident have allowed a revised open plan development approach for the deposit, which will have a more manageable upfront capital profile than previously expected. "It is particularly pleasing to note that the consistent increased level of gold production from the existing deposits has allowed the team time to refine the development approach for Trident, providing this new low-cost option and the flexibility to fund the development from strong operational cashflows. "The Company finishes the quarter in a solid position, with a consolidated balance sheet, stable operations and a long pipeline of near-term, low-cost organic growth projects."   SAFETY Since taking control of Plutonic on 1 July 2023, Catalyst has overseen a significant improvement in safety.  This is evidenced in the 12month moving average TRIFR dropping from a peak of 24.7 in September to 10.8 at the end of June.  Delivering a robust safety culture and ensuring our people go home safely remains our commitment. A minor, restricted work injury was recorded in late June.  This was the only reportable incident for the quarter. No injuries were recorded for the quarter at Henty. Table 1: June 2024 group safety performance (12-month moving average) Plutonic Henty TRIFR 10.8 9.5 LTIFR (per million hours worked) - 6.3 OPERATIONS Plutonic Gold Operations The focus for the June quarter remained reinforcing our safety culture and ensuring consistent production performance. Key production indicators of the mine; development metres, production drill metres, material movement and gold production were consistent with previous quarters and reflect the new operating performance.  Gold produced was 24,576oz vs prior quarter of 21,252oz at an AISC of $2,291/oz vs prior quarter of $2,346/oz. This was a strong result despite an electrical failure of a transformer impacting the primary underground fan and restricting access to areas of the mine for approximately a week. There was a continued focus on mine planning . Plutonic's mine planning has improved considerably in the past 12 months and has been fundamental to supporting production to date.  Building adequate drill stocks to support mine planning was also a focus during the quarter and a fourth drill rig was utilised to achieve this.  At the end of the quarter there were +100kt of drill stocks on hand, creating increased flexibility and contingency into the mine plan. Plutonic is progressively de-bottlenecking its underground operations.  Remote loader capacity is seen as the next bottleneck, and in the coming months Plutonic will replace hire equipment with rebuilt Sandvik tele-remote loader units.  A new Sandvik loader will be purchased to provide greater reliability and flexibility.   This fleet renewal program commenced in the quarter and will continue until late in Q1 FY25. As production metrics continue to normalise at the new levels, the focus is gradually shifting to reviewing costs.  Major contacts are being retendered and renegotiated as they become due, with pleasing initial results from these negotiations. Henty Gold Mine During the quarter, Henty's mill operated at its nameplate production run rate of 300,000 tonnes per annum for the first times since 2008.  This throughput was supported by improved mine operating metrics including material movement, development metres and ore movement.   Gold recovered was 6,926 oz vs prior quarter of 6,832oz.  This was the highest quarterly ...