Matsa Resources Limited (ASX:MAT)

ALERT: Price-sensitive ASX Announcement for MAT

Current share price for MAT : $0.062 -0.048 (-43.64%)⁺

Announcement

First Processing Campaign Completed Devon Pit Gold Mine

Release

13 Oct 2025 9:29AM

Price at Release

$0.110

Full Release

Summary

Matsa Resources Limited announced the completion of its first processing campaign at the Devon Pit Gold Mine. The campaign processed 49,082 tonnes on schedule and within budget, allowing for increased mining and scheduling flexibility due to the full surface opening of the final designed open pit mine. The mine schedule was optimized using a higher gold price, leading to the rescheduling of mining plans. The second processing campaign is set to begin on 31 December 2025. The mine is expected to operate for approximately 18 months, with an anticipated gold sale of over 40,000 ounces.

Key Points

First processing campaign completed with 49,082 tonnes processed.
Mining operations opened full surface extent of the pit for flexibility.
Gold price optimisation adjusted to $4,900/oz from $4,250/oz.
High-grade ore mining rescheduled for Campaign 2.
Second processing campaign starts late-December 2025.
Expected operation duration is approximately 18 months.
Projected gold sales exceed 40,000 ounces.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.