Matsa Resources Limited (AU:MAT) has released an update.
Bulletin Resources Limited has become a substantial shareholder in Matsa Resources Limited, acquiring a 10.7% stake, which equates to 70M shares. Matsa, holding the promising Lake Carey Gold Project with an estimated 949,000 oz Au, is on the verge of commencing production at the Devon Pit Gold Mine, anticipated to generate significant near-term cash flows. Bulletin’s investment decision reflects their confidence in the project’s potential, buoyed by the strengthening gold prices and the mine’s projected pre-tax cash flow surplus.
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