The Tasmanian Government welcomes today’s announcement that Diversified Minerals Pty Ltd (Diversified) has sold the Henty Gold Mine to Western Australian based Catalyst Metals Limited (Catalyst).
The Henty Mine currently employs approximately 125 people and is a significant contributor to the West Coast economy and community.
Catalyst advise that the acquisition will include the transition of the current site operating team.
We also welcome news that Catalyst intends to undertake new exploration around the mine including around 40,000m of drilling in the next year to potentially expand operations, together with a systematic regional program across all Henty tenements.
Catalyst is an ASX listed mineral exploration company with interests in advanced gold projects in Victoria. The placement was well-supported by major shareholder and joint venture partner, St Barbara Ltd.
Catalyst is a financially strong and well-funded company with significant knowledge in exploration. The companies’ key personnel are well known to the Australian mining industry.
The Henty Gold Mine on the West Coast of Tasmania commenced operations in 1996. Over a 24 year period, the Henty Gold Mine has produced approximately 1.5 million ounces of gold.
The original forecast mine life upon start-up was only five years, however the exploration potential has successfully extended the mine life more than four times the original estimate. The exploration potential for the region is exciting.