Completion of Agreement with Catalyst Metals
| Stock | Catalyst Metals Ltd (CYL.ASX) |
|---|---|
| Release Time | 19 Mar 2026, 8:48 a.m. |
| Price Sensitive | Yes |
Star Minerals completes agreement with Catalyst Metals
- Conditions satisfied for sale of West Bryah copper-gold project to Catalyst Metals for $1M cash and 230,536 CYL shares
- Catalyst Metals takes a $1M strategic placement in Star Minerals
- Proceeds to fund progress on Tumblegum South Gold Project
Star Minerals Limited (ASX: SMS) has announced the completion of the agreement to sell its West Bryah copper-gold project to Catalyst Metals Limited (ASX: CYL) for a total consideration of $2.75M, comprising $1M cash and 230,536 CYL shares. Additionally, Catalyst Metals has taken a $1M strategic placement in Star Minerals, further strengthening the partnership between the two companies. The sale of the non-core West Bryah project provides Star Minerals with additional, non-dilutionary cash to enable the company to progress the development of its flagship Tumblegum South Gold Project and pursue new opportunities. Star Minerals welcomes Catalyst Metals as a major shareholder, with a 6.59% stake in the company. The two companies will work together to process material from the Tumblegum South project at the Plutonic Plant Gold Mill. The Tumblegum South Gold Project is the primary focus for Star Minerals, with the company aiming to bring the project into production in early 2026. The project has a Mineral Resource Estimate of 616kt at 2.28g/t Au for 45koz of gold. An updated Scoping Study has demonstrated robust economics for the project, with an updated Production Target ranging from 167kt at 2.43g/t Au producing 11.8koz of gold, to 255kt at 2.16g/t Au producing 15.9koz of gold. The company has also secured a Right to Mine Agreement, Mining Approval, and a toll treatment agreement with Catalyst Metals for the Tumblegum South project.
Star Minerals is focused on progressing the Tumblegum South Gold Project towards production in early 2026, leveraging the additional funding from the sale of the West Bryah project and the strategic placement by Catalyst Metals. The company will continue to work closely with Catalyst Metals to process material from Tumblegum South at the Plutonic Plant Gold Mill.