PERTH (miningweekly.com) – Gold developer Matsa Resources has received approval for its mining proposal and mine closure plan for the trial mining operations at its Fortitude project, in Western Australia.
The company said on Tuesday that trial mining at Fortitude remained on track to start in June, with production starting by mid to late July.
A study into the trial mining showed that for a capital investment of only A$1.2-million, Matsa could potentially generate a cash surplus of A$5.2-million over a 12-month period from the mining of around 185 000 t of ore.
The ore will be processed at one of three nearby treatment facilities.
A final approval from the Department of Environmental Regulation was still outstanding, but would likely be secured shortly, Matsa told shareholders.