Zuleika Gold Ltd. has reached a final settlement in its long-running Plutonic Gold mine litigation against Catalyst Metals Ltd.
Under the terms of the settlement, Catalyst will pay Zuleika AU$48 million, which comprises a cash payment of AU$15 million upon the settlement and fully-paid ordinary shares to a value of AU$31 million.
Catalyst will also pay a cash payment of AU$2 million by close of business on May 13, 2026.
The proceedings were in relation to Zuleika’s right to earn up to a 50 per cent joint venture interest in Catalysts’ Plutonic Gold mine, acquired as part of its acquisition of subsidiaries Vango Mining Ltd. and Dampier (Plutonic) Pty Ltd.
Zuleika also claimed damages in relation to its right to receive milestone and royalties payments related to an agreement between the company and the Vango parties.
As part of the settlement agreement, Zuleika agreed to relinquish its 4.1 per cent interest in the mine.
Zuleika CEO Annie Guo said ending the five-year litigation is a major step forward for the company and marks an important milestone for Zuleika.
“Zuleika can now turn its undivided attention to progressing our strategic priorities of advancing our portfolio of exciting gold assets and pursuing further growth opportunities,” Guo said.
“We are excited about the path ahead and confident in the underlying value of our projects.
“The board remains firmly focused on advancing these opportunities and delivering lasting value for our shareholders.”
