CATALYST METALS LIMITED (CYL)
Share Price Analysis and Chart

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

30/04/2025

1

Add

$7.15

13.13%

Catalyst Metals announced a stable 3Q25 result from the Plutonic Gold Mine, despite minor disruptions from Cyclone Sean, according to Morgans.

Gold sales of 24koz were above consensus and internal forecasts, though revenue of $115m and EBITDA of $51m fell short due to slightly weaker realised pricing and higher all-in-sustaining-costs of $2,765/oz.

The broker notes production started at Plutonic East, supporting its growth plan, while divesting the high-cost Henty asset allowed focus on Plutonic and Victorian exploration potential.

Management's FY25 guidance of 105–120koz at all-in-sustaining-costs of $2,300–2,500/oz was reiterated.

Morgans raises its target price to $7.15 from $5.69 and maintains an Add rating.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.00 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 25.00 cents.

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

15/05/2025

1

Speculative Buy

$6.43

1.74%

Taylor Collison views Catalyst Metals’ acquisition of the Old Highway gold project from Sandfire Resources ((SFR)) as a strategic fit for its hub-and-spoke model centred on the Plutonic Belt.

The project, located just 40km from the Plutonic mill, offers near-term, high-margin production of circa 35kozpa, highlights the broker, and will more than offset the around -24kozpa loss from the recently divested Henty asset.

The Henty sale also lifts group margins and grants a 12-year option on a permitted mill in Victoria, observes Taylor Collison, unlocking value at Four Eagles without new permitting risks.

Production at Plutonic underground remains consistent, and ramp-up at Plutonic East is underway, with first stoping ore delivered in 3Q of FY25, notes the analyst.

Guidance for the Plutonic Belt remains unchanged despite recent weather impacts. Target $6.43. Speculative Buy. 

FORECAST
Taylor Collison forecasts a full year FY25 EPS of 0.60 cents.
Taylor Collison forecasts a full year FY26 EPS of 0.80 cents.