Catalyst Metals raises AU$22 million to accelerate gold belt development

Catalyst Metals Limited (ASX: CYL) has secured commitments to subscribe for 22 million new fully paid ordinary shares at an issue price of AU$1.0 per share to raise AU$22 million from institutional and sophisticated investors. Proceeds from the placement will be used to accelerate development and exploration activities across the Plutonic-Marymia gold belt, following the company's successful takeover of Vango Mining and subject to the acquisition of Superior Gold.

The placement satisfies a key condition of Catalyst’s proposed acquisition of Superior. Catalyst's managing director, James Champion de Crespigny, said the strong support for the placement reflects the outstanding opportunity the company has to generate growth and create value through its assets in three key Australian gold belts.

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