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Matsa Resources Limited ( (AU:MAT) ) has provided an update.
Matsa Resources Limited announced a maiden gold reserve estimate of 46,000 ounces at the Devon Pit Gold Mine, part of their Lake Carey Gold Project. With all necessary permits secured, the company plans to commence mining operations soon, leveraging existing infrastructure to minimize capital expenditure. The project is expected to generate significant cash flow amid high gold prices, with advanced discussions underway for contractor agreements and financing, marking a significant milestone for the company’s growth.
More about Matsa Resources Limited
Matsa Resources Limited is a company operating within the mining industry, focusing on gold extraction. Its primary operation centers around the Lake Carey Gold Project, which includes the Devon Pit Gold Mine. The company aims to develop high-grade open pit gold mines and transport ore to regional processing facilities.
YTD Price Performance: 5.00%
Average Trading Volume: 23,495
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €16.04M
Learn more about MAT stock on TipRanks’ Stock Analysis page.
