News and Announcements
Matsa Resources (ASX: MAT) Signs MoU with AngloGold Ashanti
- Published June 20, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Matsa and AngloGold Ashanti sign MoU to work together openly, fairly and in a mutually beneficial way.
- MoU covers Matsa’s Lake Carey and Red October gold projects and AGAA’s Lake Carey and Sunrise Dam.
- Access will strengthen and increase the ability of Matsa to grow its gold ore resources.
Matsa Resources Limited has signed a Memorandum of Understanding (MoU) with AngloGold Ashanti Australia Limited (AGAA). Matsa became a gold producer following its acquisition and development of the Fortitude Gold Mine in Western Australia. AGAA is one of the highest production rates for a gold mining company in the world. The non-binding MoU is set to benefit Matsa’s gold mining exploration activities greatly and is the outcome of an excellent working relationship between Matsa and AGAA over the past two years.
The MoU covers an extensive area including Matsa’s Lake Carey and Red October gold projects and AGAA’s Lake Carey and Sunrise Dam operations in the Lake Carey district. This access will strengthen and increase the ability of Matsa to grow its gold ore resources which in turn may assist AGAA to gain additional ore feed for the Sunrise Dam treatment plant. The MoU states that AGAA will receive the First option and endeavour to treat all gold ore produced within the areas listed under the MoU. Additionally, the companies with share infrastructure and will have appropriate technical information sharing in place.
About Matsa Resources Limited (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.