Catalyst Metals to acquire Plutonic Gold!

Mar 01, 2023

Plutonic Gold Operations

Superior Gold announces that it has entered into a definitive agreement pursuant to which Catalyst Metals Limited will acquire all of the issued and outstanding common shares of Superior pursuant to a court-approved plan of arrangement.

The Transaction will result in Catalyst acquiring 100% of Superior’s Plutonic Gold Operations, located in central Western Australia. The Plutonic Gold Operations include the Plutonic underground gold mine and central mill, numerous open-pit projects, and an interest in the Bryah Basin joint venture.

Upon completion of the proposed Transaction, existing Catalyst shareholders and former Superior shareholders will own approximately 78% and 22% of the combined company, respectively, including the impact of the previously-announced acquisition of Vango Mining Limited by Catalyst but excluding the impact of the planned Catalyst financing, as further described below.

Chris Jordaan, President and Chief Executive Officer of Superior said: “We are very pleased to offer shareholders the opportunity we have always proposed, the consolidation of the Plutonic-Marymia gold belt, with a meaningful immediate premium, diversification of assets and cash flow and logically, a listing on the ASX.

We believe the Transaction will create a strong platform from which to advance the development of the Plutonic underground mine and surrounding open pit projects. Shareholders will also benefit from Catalyst’s strong Australian shareholder register, financial strength and portfolio of exploration projects.

We would like to thank our indigenous partners, the Jidi Jidi Aboriginal Corporation and the Marputu Aboriginal Corporation, for all of their support. I am confident that, when completed, this Transaction will mean an even stronger future for Plutonic. Catalyst will bring to Plutonic a team with international mining experience, a proven track record of exploration success and the financial resources to develop the district.”

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