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Matsa Resources Limited ( (AU:MAT) ) has issued an announcement.
Matsa Resources Limited has rejected claims in an ABC News online article that mining at its Devon Pit Gold Mine is about to cease due to fuel shortages, stating that operations are continuing and that ore deliveries to the FMR Greenfields processing plant for the third processing campaign remain on schedule. The company said it has implemented fuel-saving measures in cooperation with contractor Blue Cap Mining but does not expect any change to its planned processing timetable, noting that ABC has since retracted its comments about Devon after being contacted, which helps reassure stakeholders about the continuity of production and revenue expectations.
The most recent analyst rating on (AU:MAT) stock is a Hold with a A$0.09 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 mining company focused on gold exploration and production. The company operates the Devon Pit Gold Mine in Western Australia and supplies ore to the FMR Greenfields processing facility under a campaign-based processing arrangement.
Average Trading Volume: 2,493,106
Technical Sentiment Signal: Hold
Current Market Cap: A$92.25M
See more data about MAT stock on TipRanks’ Stock Analysis page.