Australia's Catalyst Metals surges on plans to buy gold deposit

Sandfire Resources

08/05/2025 04:39

** Shares of Catalyst Metals CYL.AX rises as much as 6.4% to A$6.20, their biggest intraday gain since April 10

** Gold producer says it will acquire Old Highway Gold Deposit from peer Sandfire Resources SFR.AX for A$32.5 million  ($20.99 million)

** Says the deposit is an attractive development opportunity as it sits on granted mining leases, among others

** Stock last up 6%, takes YTD gains to 140%

($1 = 1.5485 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))