InvestSMART

Matsa Resources Limited (ASX:MAT)

ALERT: Price-sensitive ASX Announcement for MAT
Current share price for MAT : $0.056 0 (0%)+
Announcement
Release
31 Jul 2026 5:18PM
Price at Release
$0.056
Full Release
download
Summary
Matsa Resources Limited reported on its activities for the quarter ending 30 June 2026, focusing on its flagship Lake Carey Gold Project in Western Australia. The company received proceeds of $7.86 million from gold sales during the quarter. Significant exploration and drilling activities took place, particularly at Fortitude North, where promising gold intercepts were reported. Matsa entered into a debt facility agreement with Deutsche Balaton for $17.5 million to support its mining activities. The company plans further drilling and resource upgrades at key gold deposits. Challenges included historical mining impacts at the Devon Pit Gold Mine, which affected mined grade due to dilution.
Key Points
  • Completion of 15 diamond drill holes at Lake Carey from a 10,000m campaign.
  • Significant gold intercepts reported at Fortitude North.
  • Proceeds from Campaign 3/4 gold sales totalled $7.86 million.
  • AngloGold Ashanti completed initial drilling on Matsa tenement under an option agreement.
  • Matsa drew down $5 million under a debt facility agreement with Deutsche Balaton.
  • Board strengthened with new appointments for technical and governance roles.
  • Exploration and resource drilling programs focus on expanding the Lake Carey Gold Project.
  • Challenges at Devon Pit Gold Mine due to historical mining affecting grade.
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.