Matsa Resources Kicks Off Mining at Devon Pit, First Gold on Track for September
Matsa Resources has officially commenced mining operations at its Devon Pit Gold Mine, with ore haulage to begin late July and first processing slated for mid-September 2025.
- Mining started at Devon Pit on 7 July 2025
- Dewatering and infrastructure works progressing on schedule
- Ore stockpiled onsite, haulage to FMR processing plant to begin late July
- First ore processing campaign expected mid-late September 2025
- Mine projected to produce over 40,000 ounces of gold over 18 months
Mining Operations Underway at Devon Pit
Matsa Resources Limited has reached a significant operational milestone with the commencement of mining at its Devon Pit Gold Mine as of 7 July 2025. The company reports that mining is ongoing and progressing in line with the established mine plan, marking a pivotal step toward delivering on its production targets.
Dewatering of the historical pits is advancing on schedule, with completion expected within the month. This critical preparatory work has enabled the deployment of a second excavator, signaling readiness to expand into the Stage 2 pit development, which will target both the West Lode and Main Lode ore bodies.
Infrastructure and Logistics in Place
All necessary site infrastructure and works are now in place, including mine offices, workshops, and medical facilities, supporting a safe and efficient operation. Ore is currently being stockpiled onsite, with haulage to the FMR processing plant scheduled to commence in late July. The first processing campaign is anticipated to begin mid to late September 2025, with a second campaign planned for December.
Executive Chairman Paul Poli expressed satisfaction with the rapid development, highlighting the role of Blue Cap in the mine setup and praising the operational planning that underpins the project’s safety and efficiency. He emphasized the swift turnaround from decision to mine commencement and expressed optimism about the project’s prospects, especially given the current gold price environment above $5,000 per ounce.
Production Outlook and Market Implications
The Devon Pit is expected to operate for approximately 18 months, producing in excess of 40,000 ounces of gold. This output will contribute meaningfully to Matsa’s portfolio and revenue streams, with the initial ore parcel of 50,000 tonnes set for processing at the Greenfields Mill. The company’s methodical approach to grade control drilling and ore mapping suggests a well-understood ore body, which bodes well for consistent production.
While the announcement does not provide detailed cost guidance or reserve updates, the forward-looking statements underscore typical mining risks but reflect confidence in the project’s trajectory. Investors will be watching closely for the commencement of ore haulage, processing results, and the timing of first gold sales, which will be key indicators of operational success and financial impact.
Bottom Line?
With mining underway and first processing imminent, Matsa’s Devon Pit is poised to deliver its first gold sales, setting the stage for the next phase of growth.
Questions in the middle?
- How will actual ore grades and recovery rates compare to expectations during initial processing?
- What are the detailed cost structures and margins anticipated for the Devon operation?
- How quickly can Matsa scale up production beyond the initial 18-month plan if results prove favorable?
