Matsa turns Lake Carey deal into A$45 million cash receipt

A$45 Million Final Payment Received

Matsa Resources Limited (ASX:MAT) has converted its pending Lake Carey transaction into cash, receiving the final A$45 million payment from AngloGold Ashanti Australia for five tenements near Laverton in Western Australia. The payment, stated by Matsa as excluding GST, completes the Revised Tenement Option Agreement.

The settlement closes a transaction that had been moving through its final conditions. Matsa had previously reported that Lake Carey conditions cleared and that the remaining A$45 million was due once those requirements were satisfied.

Total Consideration Reaches A$70.125 Million

AngloGold has now paid A$70.125 million including GST under the Tenement Option Agreement. The announcement does not provide the accounting treatment for the transaction, the company’s resulting cash balance or any updated detail on how the proceeds will be applied.

That cash receipt arrives after Matsa had flagged going-concern uncertainty and disclosed that the AngloGold transaction was expected to provide liquidity; those concerns were outlined in Matsa’s going-concern warning. Completion removes the uncertainty around whether the final instalment would be received, but the filing itself does not indicate what financial obligations or operating requirements the proceeds will cover.

Fortitude North Right Runs Until September 2027

AngloGold retains a right of first refusal over the Fortitude North tenement. If Matsa receives a bona fide third-party offer, AngloGold can match it. The right remains in force for 12 months from the option exercise date, expiring on 21 September 2027.

That provision leaves Fortitude North subject to a defined transaction constraint even after the broader Lake Carey agreement has completed. The next material disclosures will likely be the treatment of the proceeds, Matsa’s post-settlement financial position and whether any third-party interest tests AngloGold’s matching right before the deadline.