Catalyst Metals Ltd (ASX:CYL)

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Catalyst Metals Ltd (ASX:CYL) is raising A$770,000 through the placement of 1.9 million shares at $0.40 each to progress exploration activities on the Company's Whitelaw Gold Belt tenement Portfolio.

Catalyst Metals Ltd (ASX:CYL) (Gold, Minerals)

Placement -

Investment Highlights

Near term resource development

  • Major discovery potential > 32moz target region
  • 2016 Field Exploration Season well underway
  • Four Eagles funded by GEV Pty Ltd
  • Multiple parallel gold mineralisation channels
  • Key Four Eagles drilling results to date include:-
    • 41m @ 3.87g/t (incl 6m@16.3g/t)
    • 6m @82.7g/t
    • 3m @>100g/t
    • 3m @59.2g/t
  • CYL farming into Tandarra for A$3m over 4 years
  • Key Tandarra drilling results to date include:-
    • 10m @ 17.88g/t
    • 7m    @ 5.5g/t
    • 1.5m @ 59.2g/t
  • CYL also exploring its 100% owned tenements

ASX Announcement:

Catalyst Metals Limited (ASX:CYL) is pleased to announce that it has received firm commitments for a capital raising if $770,000 through a private share placement of 1,925,000 ordinary fully paid shares at a subscription price of 40 cents per share.

Funds raised from the placement will be used to progress exploration activities on the Company’s Whitelaw Gold Belt tenement Portfolio and for general working capital.

The placement has been made by way of an excluded offer of ordinary shares under Section 708 of the Corporations Act 2001 to sophisticated and professional investors including clients of Sydney based Paradigm Securities, the manager of the share placement.

-ASX Announcement
-7 April 2016
-Steve Boston (Chairman)

Summary of Total Offer

Unit Price: A$0.40
Total Units on Offer: 1,925,000
Raising: $A 770,000

Lead Manager