News and Announcements
Masta Resources Limited Quarterly Activities Report 31 March 2018
- Published April 29, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Key Takeaways
Fortitude Trial Mine:
- Gold ore production for the quarter was 79,287t @ 1.85g/t Au, of this 75,998t @ 1.83g/t Au was delivered to AngloGold Ashanti with payment of A$4.79M received after processing costs
- C1 cost per ounce gold (eqv.) was reduced significantly from A$1,928/oz in the December quarter to A$1,182/oz this quarter
- Gold ore production increased from 47,314t to 79,287t due to reduced waste to ore ratio of 31:1 down to 4.6:1
- Mining studies ongoing to assess the feasibility of a longer-term mining operation, to be completed after trial mining ends
Red October Gold Project:
- The acquisition of the Red October Gold Mine and associated infrastructure was settled with Saracen
- The current resource at the Red October Gold Mine is 99,000 oz. of gold at 6.9 g/t including 85,000 0z. of gold at 13.5 g/t
- MOU executed with Pit N Portal with mine planning and resource definition underway to assess the potential to restart mining at Red October as soon as possible
Red Dog Gold Project
- Mine plan lodged with DMIRS and clearing permit received with mining targeted to commence in 3rd quarter of 2018
- Financial modelling and mining studies almost complete
Lake Carey – Exploration:
- Planning for a 10,000m drill programme completed and set to commence
- A comprehensive review of the ~600km2 Lake Carey project has identified 5 high priority targets for exploration Corporate
- Cash and liquid investments as at 31 March 2018 ~ $5.75 million
About Matsa Resources Ltd (ASX: MAT)
Matsa is an ASX listed explorer/developer who has become a gold producer following the acquisition and development of the Fortitude gold mine. Fortitude forms part of the Lake Carey gold project south of Laverton. Matsa has a pipeline of quality projects within Australia and central Thailand. Matsa has recently acquired the Red October Gold mine near Lake Carey which boosts the mining potential within the area.
Company Updates
500 Million Episodes, Limited Treatment: How Patrys is Bridging the Gap in an Underserved Market
In the clinical vocabulary of the Intensive Care Unit, there is perhaps no word that carries as much quiet dread as delirium. It is a “chemical storm” of the brain—an acute dysfunction where the delicate balance between calming and activating signals is scrambled. For the patient, it can be a waking nightmare of hallucinations and […]
The Light Fantastic: Why Invion’s Photodynamic Therapy May Be Attracting Big Pharma’s Attention
Invion Limited is challenging the status quo in oncology with its Photosoft™ platform, a precision therapy that uses light-activated molecules to selectively target cancer cells. By transforming the body’s own immune response and addressing the high costs of current cancer treatments, Invion is positioning itself as a transformative player in the biotech sector. With clinical trials underway and strong institutional partnerships, the company is bridging the gap between scientific breakthrough and accessible, scalable patient care.
From Outback to Boardroom: How SWAN Systems is Codifying Water Stewardship
From the arid deserts of Australia to the boardrooms of global tech giants, SWAN Systems is redefining water efficiency. By bridging the gap between field-level agronomics and autonomous irrigation control, the company is proving that “water-positive” targets can be met with science, data, and a 10x ROI commitment.
Backed By Leading Investment Groups and Family Offices
