Catalyst Metals Could be Nearing Mill Expansion Decision
Dow Jones
Aug 04
0200 GMT - Catalyst Metals' recent hedging could be a sign that the gold miner is preparing to approve a mill expansion, says UBS analyst Al Harvey. Catalyst last month said it entered into gold forward contracts of 30,000 ounces at 6,075 Australian dollars per ounce. That "may be part of risk management for an upcoming (yet modest) investment cycle, and bolsters our confidence that FID [a final investment decision] may be just around the corner," Harvey says. Catalyst is expected to provide FY27 guidance and an updated 10-year outlook in September. UBS forecasts FY27 production of 132,000 oz at a cost of A$3,066/oz. The bank keeps a buy rating and A$9.00/share target on the stock. Shares are up 0.2% at A$5.77.
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