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This ASX gold stock is jumping 12% after a record year

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Smiling mine worker at mining site with colleagues.

It has been a rough year for Catalyst Metals Ltd (ASX: CYL), but investors are getting something to cheer about on Friday.  

At the time of writing, the ASX gold stock is up 12.33% to $5.74.

That gives Catalyst shares some relief after a weaker year so far. Catalyst shares are still down around 22% in 2026, although they remain up about 7% since this time last year. 

Here’s what the company announced.

A record year at Plutonic

According to the release, Catalyst produced 31,812 ounces of gold in the fourth quarter from its Plutonic Gold Belt in Western Australia. 

That helped lift annual gold production to 104,000 ounces, which was in line with the company’s FY26 guidance range of 100,000 ounces to 110,000 ounces.

Catalyst said this was both a record quarterly and annual gold production result for the Plutonic Gold Belt under its ownership.

It was also the highest quarterly and annual production from Plutonic since 2013, when the asset was owned by Barrick.

Production came from four mines across the Plutonic Gold Belt, including Plutonic Main, Plutonic East, the Trident open pit, and K2.

Management said the result reflected a year of consistent operating performance across the asset. It noted that Catalyst has now lifted production from around 15,000 ounces a quarter to more than 30,000 ounces a quarter since taking control of Plutonic. 

Balance sheet improves

Catalyst’s cash position also moved in the right direction.

The company ended June with cash and bullion of $323 million. That was up $46 million since 31 March and up $85 million over the six months to 30 June. 

That increase came after exploration, capital, and corporate spending.

Catalyst also said it is debt-free. On top of that, its undrawn $100 million debt facility gives it total liquidity of $423 million.

Can the rebound continue?

This update should give Catalyst shares more support after a weak start to 2026.

The company delivered a stellar result, but most importantly, grew its cash and bullion balance, and remains debt-free. 

Catalyst said detailed operating figures and costs will be provided in its upcoming June quarterly report. That will give investors a better look at margins, costs, and how much of this stronger production result is flowing through to the bottom line. 

The K2 mine is also worth watching, with commercial production appearing to be on track despite some early grade reconciliation and cost pressures.

 

The post This ASX gold stock is jumping 12% after a record year appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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