Catalyst Metals: Raises $22m to fund Plutonic acquisition

Catalyst Metals Raises $22m to fund Plutonic acquisition

• Catalyst Metals (CYL) raises $22 million through a share placement to complete its acquisition of the Plutonic gold project in Western Australia
• The placement was cornerstoned by Hancock Prospecting and supported by major shareholders of Superior Gold and Vango Mining’s largest shareholder
• It will see CYL issue 22 million new shares at $1 per share
• The raise satisfies a key condition for the acquisition of Superior Gold, and CYL says the proceeds will be used to accelerate exploration across its portfolio
• Shares in CYL are down 9.38 per cent, trading at $1.16 at 1:19 pm AEDT