https://www.miningweekly.com

Matsa reviews business strategy

29th January 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Matsa Resources has announced a strategic review of its business strategy with the aim of becoming a midtier gold producer.

The company said on Friday that its exploration going forward would be focused on growing its resource base from the current 515 000 oz of gold to underpin a 600 000 t/y gold-ore treatment plant.

“Since 2018, Matsa has demonstrated it has the capacity to successfully operate both opencut and underground mines. With that in mind, our recently completed study into a 600 000 t/y facility presents a compelling case for Matsa to preserve our resource tonnes for a Matsa-owned treatment plant and commence an aggressive exploration programme in order to substantially increase the company’s resource,” said executive chairperson Paul Poli on Friday.

“We already have 515 000 oz of gold resources and we fully intend to grow these through our planned exploration activities. We will be working through our plans at Red October in light of our recent highly successful drilling programme, and a Matsa-owned treatment plant will enable us to work towards getting Fortitude and Devon into production with far more attractive project economics than previously achievable.”

Ore production at Red October will be wound down, with mining to be focused on development of access drives to support a major in-mine drilling campaign.

Furthermore, Matsa has identified an extensive exploration pipeline, with some 30 high quality targets which would undergo further evaluation.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.051 0.935s - 128pq - 2rq
Subscribe Now