First Ore Delivered Fortitude Gold Mine - Matsa · Page 1 Matsa Resources Limited. LIMITED ABN 48...
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Page 1 Matsa Resources Limited LIMITED ABN 48 106 732 487 ASX Announcement 3 th October 2017 First Ore Delivered Fortitude Gold Mine Highlights • The first ore from the Fortitude Gold Project trial mine has now been delivered to AngloGold Ashanti’s Sunrise Dam gold treatment plant • Gold ore meets or exceeds budgeted ore specifications in accordance with the Ore Purchase agreement • Delivery signals first income expected mid-October • Deliveries will now be continuous until completion of mining resulting in a steady income stream CORPORATE SUMMARY Executive Chairman Paul Poli Director Frank Sibbel Director & Company Secretary Andrew Chapman Shares on Issue 144.7 million Unlisted Options 16.98 million @ $0.25 - $0.30 Top 20 shareholders Hold 54.615% Share Price on 2 nd October 2017 22 cents Market Capitalisation $31.84 million
Transcript of First Ore Delivered Fortitude Gold Mine - Matsa · Page 1 Matsa Resources Limited. LIMITED ABN 48...
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Matsa Resources Limited
LIMITED
ABN 48 106 732 487
ASX Announcement 3th October 2017
First Ore Delivered Fortitude Gold Mine Highlights
• The first ore from the Fortitude Gold Project trial mine has now been delivered to AngloGold Ashanti’s Sunrise Dam gold treatment plant
• Gold ore meets or exceeds budgeted ore specifications in accordance with the Ore Purchase agreement
• Delivery signals first income expected mid-October
• Deliveries will now be continuous until completion of mining resulting in a steady income stream
CORPORATE SUMMARY
Executive Chairman
Paul Poli
Director
Frank Sibbel
Director & Company Secretary
Andrew Chapman
Shares on Issue
144.7 million
Unlisted Options
16.98 million @ $0.25 - $0.30
Top 20 shareholders
Hold 54.615%
Share Price on 2nd October 2017
22 cents
Market Capitalisation
$31.84 million
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Matsa Resources Limited
Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise that it has delivered its first ore from the Fortitude Gold Projects trial mine to the Sunrise Dam gold treatment plant owned by AngloGold Ashanti Australia Limited (“AGAA”).
In June 2017, Matsa announced that it had entered into an Ore Purchase agreement with AGAA whereby AGAA would purchase all the ore produced from the Fortitude Gold Project trial mine. Regular delivery of ore on a continuous basis will now be ongoing thereby realising a steady income stream for Matsa over the life of the trial mine. Currently some 9,000 tonnes of ore are stockpiled at the Fortitude ROM awaiting delivery to AGAA.
Figure 1: Dumping of Ore on Fortitude Gold Project ROM pad
Matsa’s Executive Chairman Mr Paul Poli said “The delivery of first ore from the Fortitude Gold Project marks another milestone for the project and for Matsa shareholders. It is a significant achievement that first ore has occurred approximately twelve months after acquiring the project and is testament to the hard work put in by all Matsa staff and contractors to make that happen in such a timely fashion.”
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Matsa Resources Limited
Figure 2: Ore Haulage Commencing at the Fortitude Gold Project
For further information please contact:
Paul Poli Executive Chairman Phone +61 8 9230 3555 Fax +61 8 9227 0370 Email [email protected] Web www.matsa.com.au
