Matsa Resources Limited (ASX:MAT) Commences Mining Operations at Devon Pit
Operational Progress
Matsa Resources Limited has commenced pre-mining activities at the Devon Pit Gold Mine, with site preparation for the starter pit completed. Stage 1 grade control drilling on the West Lode is finished, and drilling at the Main Lode is underway. The dewatering infrastructure has been commissioned, allowing water discharge to Lake Carey.
Mining Operations
Mobilisation of the mining fleet is ongoing, with key equipment delivered to the site. Red October Village has been reactivated to support the increased personnel as mining ramps up. First ore is scheduled to be stockpiled in June 2025, with ore haulage to FMR’s Greenfields Mill commencing in July. The initial 50,000 tonnes of ore are expected to be processed by September 2025, followed by a second processing campaign in December 2025.
Executive Comments
Executive Chairman Paul Poli stated, “It’s been ‘all hands-on deck’ for some weeks now and I am really pleased to see the high level of activity at the Devon Pit Gold Mine with the mining schedule on track to deliver our first 50,000t parcel of ore to the FMR plant for processing and gold sales in September. We’ve got drill rigs, excavator, dozer, water truck, pumps, generators and buildings on site, all coming together and there is a real buzz in the group. It’s a hive of activity and really exciting to see things come together on a daily basis. With the gold price at $5,000/oz or more, we’re expecting good things from Devon and I look forward to seeing Devon ramp up and Matsa making its first gold sales from this exciting project.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
