Catalyst Metals (CYL) H1 2026 earnings summary

Executive summary

• Achieved profit after tax of $59.7M for the half-year ended 31 Dec 2025, up from $46.3M year-over-year, with record results driven by strong Plutonic operating performance.

• Focused on a three-year organic growth strategy to double production across the Plutonic Gold Belt and reach a target of 200koz annual gold production.

• Commenced open pit mining at Trident and resolved a historical legal dispute at K2, enabling further development.

• Stabilized operations, built teams, and prepared projects for development.

• Sold 45,586oz of gold at an average price of $5,855/oz, with a 9% increase in gold sold compared to the prior six months and a 53% year-over-year price increase.

Financial highlights

• Revenue from continuing operations rose to $267.8M from $178.0M year-over-year, a 50% increase driven by higher gold prices and strong production.

• Gross profit increased to $134.4M from $71.7M year-over-year.

• EBITDA before extraordinary items increased 92% to $144.9M; after extraordinary items, $95.5M.

• Cash and cash equivalents at period end were $227.5M, with total liquidity at $338M including undrawn debt.

• Net assets increased to $581.3M from $470.7M at 30 June 2025.

Outlook and guidance

• Aims to double production across the Plutonic Gold Belt over the next three years and target annual gold production of over 200koz.

• Ongoing $90M FY26 drilling program to grow reserves and extend mine life.

• Aiming for a 10-year mine life at Plutonic, supported by ongoing exploration and development.