St Barbara’s sale of its shareholding in Catalyst Metals will bolster the company’s balance sheet liquidity as it pushes towards developing its ‘10 Year Plus Mine Plan’ for Simberi.
This plan is underpinned by the announcement of an increased 5.0 million ounce mineral resource and 2.8 million ounce ore reserve.
St Barbara has been a supportive shareholder of Catalyst since March 2017.
St Barbara said Catalyst is enjoying tremendous market support and the company wishes it the very best of success.
St Barbara said the strong demand for the company’s stake, at no discount to market price, has been a determinative factor in selling at a time when the market was giving minimal recognition to the company’s investment portfolio value.
This decision is consistent with the company’s stated strategy of actively managing the investment portfolio while being patient with the holdings rather than taking discounted block trade sales.
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