Matsa Resources Mobilises Devon Pit Gold Mine, First Ore Due June
Matsa Resources has kicked off mining operations at its Devon Pit Gold Mine, with first ore expected to be stockpiled this month and processing set for September. The project is progressing on schedule, supported by key infrastructure and strategic partnerships.
- Pre-mining site preparation and grade control drilling completed
- Dewatering infrastructure commissioned with water discharged to Lake Carey
- Mining fleet mobilised and site infrastructure established
- First ore stockpiling expected in June, processing to start in September
- Mining and processing agreements secured with Blue Cap Mining and FMR Investments
Devon Pit Gold Mine Advances to Production Phase
Matsa Resources Limited has announced significant progress at its Devon Pit Gold Mine, signalling a pivotal step from development to production. The company has completed essential pre-mining activities, including site preparation for the starter pit and grade control drilling on both the West Lode and Main Lode. These foundational efforts set the stage for mining operations to commence as planned in June 2025.
Infrastructure and Operational Readiness
Critical infrastructure milestones have been achieved with the commissioning of the dewatering system, which now effectively pumps water from the pit to Lake Carey. This ensures a dry and safe mining environment. Concurrently, the mobilisation of the mining fleet is underway, with heavy equipment such as excavators, dozers, haul trucks, and drill rigs already on site. Site offices and haul roads have been established, reflecting a comprehensive operational setup.
Strategic Partnerships and Workforce Support
Matsa has formalised key agreements with Blue Cap Mining Pty Ltd for mining services and FMR Investments Pty Ltd for ore processing. These partnerships are crucial for the seamless transition from ore extraction to processing and eventual gold sales. Additionally, the reactivation of the Red October Village provides necessary accommodation and support for the growing workforce, underscoring the company’s commitment to operational efficiency and community engagement.
Outlook and Market Context
Executive Chairman Paul Poli expressed optimism about the project’s trajectory, highlighting the anticipated delivery of a 50,000-tonne ore parcel to the processing plant by September 2025. With gold prices hovering around $5,000 per ounce, the Devon Pit project is well positioned to contribute positively to Matsa’s production profile and financial performance. The company’s methodical approach and adherence to schedule bode well for future milestones, including a second processing campaign planned for December.
While the project is advancing smoothly, the company remains mindful of the inherent risks in mining operations, including commodity price volatility and operational challenges. Nonetheless, the current momentum at Devon Pit reflects a promising chapter for Matsa Resources as it moves closer to generating revenue from gold sales.
Bottom Line?
With first ore imminent, Matsa’s Devon Pit project is poised to transform potential into production and market impact.
Questions in the middle?
- What are the expected gold grades and recovery rates from the initial ore parcels?
- How will fluctuations in gold prices affect Matsa’s operational and financial plans?
- What are the company’s plans for scaling up production beyond the initial campaigns?
