PERTH (miningweekly.com) – Gold miner St Barbara has taken a 5% stake in junior Catalyst Metals through a A$1.5-million investment.
Catalyst on Thursday announced that three-million ordinary shares, priced at 50c each, had been issued to St Barbara under the subscription agreement.
“We are pleased to welcome St Barbara to the Catalyst register and believe their experience and success in gold mining and exploration in Australia and Papua New Guinea will provide valuable support for our future endeavours in the Whitelaw gold belt, in Victoria,” said Catalyst chairperson Stephen Boston.
Catalyst holds a 50% interest in the Eagles gold project, in Victoria, and is earning a further 50% interest in the project from Providence Gold and Minerals by spending A$4.2-million on exploration.
The company holds an interest in nine exploration licences in the Whitelaw gold belt.