How Matsa’s Campaign 2 Gold Output Sets Stage for Devon Pit Growth
Matsa Resources has completed processing its second campaign of gold ore from the Devon Pit, producing 23 gold doré bars valued at approximately $25.2 million, with mining for Campaign 3 already underway.
- Campaign 2 processing completed with 51,562 dry tonnes processed
- 23 gold doré bars delivered to Perth Mint, valued at $25.2 million (at $7,000/oz)
- Higher-grade ore in Campaign 2 yielded more gold than Campaign 1
- Final gold weights and reconciliations pending
- Mining for Campaign 3 has commenced; processing advanced to start 18 March 2026
Campaign 2 Completion Marks a Milestone
Matsa Resources Limited has successfully wrapped up the processing of its second campaign of gold ore from the Devon Pit Gold Mine, signalling steady progress in its mining operations. Over 51,500 dry tonnes of ore were processed at the FMR Greenfields facility, culminating in the production of 23 gold doré bars. These bars, currently valued at an estimated $25.2 million based on a $7,000 per ounce gold price, have been sent to the Perth Mint for refining, with final weights yet to be confirmed.
Improved Ore Quality Boosts Output
Executive Chairman Paul Poli highlighted that Campaign 2 outperformed the initial campaign, thanks to the processing of higher-grade ore. This improvement not only reflects positively on the mine’s resource quality but also on Matsa’s growing understanding of the orebody and metallurgical behaviour. Such insights are crucial as they underpin confidence in the company’s ability to optimise future campaigns and enhance gold recovery rates.
Looking Ahead to Campaign 3
While final reconciliations and gold-in-circuit calculations are still underway, Matsa is already preparing for the next phase of mining. Campaign 3 mining activities have commenced, with processing scheduled to begin earlier than initially planned on 18 March 2026. This campaign is expected to run for approximately 13 days, continuing the momentum built by the previous campaigns.
Operational Confidence and Market Implications
The steady progress at Devon Pit underscores Matsa’s operational capabilities and strategic execution in a competitive gold mining sector. The timely delivery of gold doré bars to the Perth Mint and the anticipation of cash proceeds this week provide tangible milestones for investors. However, the final financial impact will depend on the outcomes of the ongoing refining and reconciliation processes.
Conclusion
With Campaign 2 meeting expectations and Campaign 3 already underway, Matsa Resources is positioning itself for continued production growth. The company’s ability to refine its mining and processing techniques will be key to sustaining this trajectory and unlocking further value from the Devon Pit Gold Mine.
Bottom Line?
Matsa’s evolving mining campaigns hint at a promising production ramp-up, but final figures will be crucial to confirm the outlook.
Questions in the middle?
- What will the final refined gold weights reveal about Campaign 2’s true yield?
- How will the earlier start of Campaign 3 processing impact overall production timelines?
- Can Matsa sustain or improve ore grades in upcoming campaigns to boost profitability?
