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Matsa Resources Limited ( (AU:MAT) ) just unveiled an announcement.
Matsa Resources reported a solid December quarter driven by progress at its Lake Carey Gold Project, with planning underway for a new resource and exploration drilling program at Fortitude North to advance growth of the 949,000-ounce project. The company completed its first processing campaign from the Devon Pit Gold Mine with gold sales of $11.73 million at strong prices and recoveries slightly above budget, continued mining and grade-control drilling to feed subsequent processing campaigns, and strengthened its partnership with AngloGold Ashanti through a $1.5 million option fee payment and commencement of fieldwork on the optioned tenements, leaving Matsa with cash and run-of-mine ore stocks valued at an estimated $17.3 million at quarter-end.
The most recent analyst rating on (AU:MAT) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Matsa Resources Limited stock, see the AU:MAT Stock Forecast page.
More about Matsa Resources Limited
Matsa Resources Limited is an Australian gold exploration and mining company focused on its flagship Lake Carey Gold Project in Western Australia, where it operates the Devon Pit Gold Mine and conducts broader exploration to grow its gold resource base.
Average Trading Volume: 2,077,130
Technical Sentiment Signal: Buy
Current Market Cap: A$148.2M
See more insights into MAT stock on TipRanks’ Stock Analysis page.