Latest Lake Carey News

Matsa Resources’ creditors have postponed a decision on the proposed restructuring of two subsidiaries after administrators received an alternative deed proposal at the meeting. A further report is expected before creditors reconvene on 12 November.

Matsa Resources has proposed a $19.15 million funding and trust structure designed to keep two subsidiaries out of liquidation and preserve the Devon Gold Project. Creditors will vote on the arrangement on 6 November, but Deutsche consent and possible court orders remain outstanding.

Matsa Resources has reported a $39.4 million FY2026 loss, negative net assets and a $28 million operating cash outflow after Devon operated at a loss and was suspended following a contractor dispute. A $55 million AngloGold tenement sale offers a potential liquidity reset, but the annual report says material uncertainty remains over the group's ability to continue as a going concern.

Matsa Resources has received the final A$45 million payment from AngloGold Ashanti for five Lake Carey tenements, completing the transaction. Total payments under the agreement reached A$70.125 million including GST, while AngloGold retains a right of first refusal over Fortitude North until September 2027.

Matsa Resources has flagged material uncertainty over its ability to continue as a going concern after a $39.4 million FY2026 loss, negative net assets and a dispute that halted Devon mining. A pending $55 million AngloGold transaction could provide substantial liquidity, but most of the cash remains tied to completion and debt repayment.

Matsa Resources says all conditions have been satisfied for AngloGold Ashanti’s acquisition of five Lake Carey tenements, putting a further A$45 million payment within 15 business days. The final settlement amount has not yet been received.

Matsa Resources has received a $10 million deposit from AngloGold Ashanti for the early acquisition of selected Lake Carey tenements. Ministerial consent has been secured, but the remaining $45 million depends on outstanding third-party approvals.

AngloGold Ashanti has exercised early an option to acquire specified Lake Carey tenements from Matsa Resources for a fixed A$55 million, although most of the consideration remains conditional. The deal arrives as Matsa refinances existing debt, manages an operational review and remains suspended from trading.

Matsa Resources has delivered further robust gold intercepts from its ongoing diamond drilling at Fortitude North, Lake Carey, confirming multiple thick, high-grade lodes and setting the stage for an expanded drilling campaign.

Matsa Resources has restructured its board and management team, appointing three new non-executive directors with deep technical and commercial expertise to support the expansion and development of its Lake Carey gold asset.

AngloGold Ashanti’s recent drilling on Matsa Resources’ Lake Carey tenement M39/599 has revealed a significant 2-kilometre gold mineralised trend with multiple high-grade intercepts, underscoring the prospect’s exploration potential.

Matsa Resources has received the last $1.65 million option instalment from AngloGold Ashanti, bringing total payments to $9.5 million under their Lake Carey project agreement. AngloGold Ashanti must decide by December whether to exercise the $101 million option.