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Matsa Resources Limited ( (AU:MAT) ) has shared an announcement.
Matsa Resources Limited has reported significantly improved results from its second processing campaign at the Devon Pit Gold Mine in Western Australia, delivering 4,074 ounces of gold from 51,562 dry tonnes of ore and generating $28.74 million in sales at an average price of $7,054 per ounce. Higher head grades of 2.86 grams per tonne and improved recoveries of 86.16% underpinned the stronger performance compared with Campaign 1, bolstering the company’s cash balance to $18.59 million and providing management with increased confidence as mining continues for Campaign 3, which is scheduled to begin processing on 28 May 2026.
The improved metrics and revenue outcome from Campaign 2 underscore a better understanding of the Devon orebody and stronger mining performance, positioning Matsa more favorably within the gold sector and enhancing its operational momentum. The transition into Campaign 3 suggests continuity of production and potential for further cash generation, which is likely to be closely watched by investors assessing the company’s ability to sustain higher grades, recoveries, and profitability from the Devon Pit operations.
The most recent analyst rating on (AU:MAT) stock is a Hold with a A$0.11 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 mining and exploration company focused on the Devon Pit Gold Mine in Western Australia. The company produces and sells gold ore processed through third-party facilities, with operations structured in discrete mining and processing campaigns that generate cash flow from gold sales.
YTD Price Performance: -15.38%
Average Trading Volume: 2,255,730
Technical Sentiment Signal: Buy
Current Market Cap: A$105.3M
Find detailed analytics on MAT stock on TipRanks’ Stock Analysis page.