Catalyst Metals Aims for Production Boost at Plutonic Gold Mine
November 20, 2023
Analyst Chris Brown from Morgans anticipates a substantial increase in production at Catalyst Metals' Plutonic gold mine in Australia. Over the next two years, the company is expected to double its annual output, surpassing 150,000 ounces. This surge in production is likely to lower cash costs per ounce and elevate Catalyst Metals to the mid-tier among ASX-listed gold miners. Brown initiates coverage of the stock with a speculative buy rating and sets a target price of A$0.90. This target is 20% below the valuation of A$1.12, reflecting a discount that may decrease as Catalyst Metals achieves its projected production levels and cost reductions. Catalyst Metals' shares were last traded at A$0.80.
