Catalyst Metals (ASX:CYL) is set to double its revolving credit facility from $100 million to $200 million, lifting its available liquidity to $531 million.
The gold producer has signed formal documentation to extend and expand the facility, which will increase to $200 million at financial close and carry a four-year tenor, up from three years.
The facility remains undrawn, while Catalyst held $331 million in cash and bullion and had no debt as of 30 June 2026.
Existing lenders Westpac (ASX:WBC), National Australia Bank (ASX:NAB), and Société Générale (EPA:GLE) are supporting the expanded facility. HSBC (LSE:HSBA) has joined the lending syndicate.
Other terms remain broadly unchanged, including the interest margin, financial covenants, and security arrangements. HSBC will also join Westpac and NAB in providing hedging facilities.
CEO James Champion de Crespigny thanks its lenders.
“Over the past two years, Catalyst has progressively de-risked the longer term ±200koz organic growth strategy. The ongoing support of our relationship banks in this upsize reflects that progressive de-risking,” Crespigny says.
Catalyst has generated more than $525 million in operating cash flow over the past three years, which it says has funded four new mines, supporting infrastructure, and the repayment of inherited liabilities.
The company currently produces approximately 100,000 ounces of gold annually from three mines along the 40km Plutonic Gold Belt in Western Australia.
Catalyst notes it is bringing the Trident underground, Cinnamon, and Old Highway mines into production as part of a strategy to increase annual output to approximately 200,000 ounces and extend Plutonic’s mine life to 10 years.
Catalyst Metals is an Australian mineral exploration company with assets along Western Australia’s Plutonic Gold Belt and immediately north of Victoria’s historic Bendigo goldfield.
Write to France Pinzon at Mining.com.au
Images: Mining.com.au
