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Matsa is an ASX listed explorer who has become a gold producer following the acquisition and development of the Fortitude gold deposit and the Red October gold mine.
The Fortitude gold deposit lies within the Lake Carey gold project 70km south of Laverton. A mining study completed on the Fortitude gold deposit as a ‘Stage 2’ mine has delivered highly positive results, indicating a potential immediate commencement of a larger scale mining operation with the potential to deliver significant cash flow for the Company and value for our shareholders.
Post completion of the purchase of the Red October gold mine from Saracen Minerals, Matsa has re-commenced mining operations at the Red October gold mine site, with processing being undertaken at Anglogold Ashanti’s Sunrise Dam gold treatment plant under a 5 year Ore Purchase Agreement.
With an extensive exploration programme currently underway at Lake Carey, and in particular the Red October gold mine, exciting times exist with potentially significant new discoveries and exploration upside pending.
Matsa remains in a strong financial position with cash and liquid assets. The Company aims not only to increase shareholder wealth through the discovery and development of minerals, but to do it in a socially and environmentally responsible way, utilising world best practices.