Matsa Resources (ASX:MAT) is conducting pre-mining activities at the Devon Pit Gold Mine in Western Australia, with site preparation for the starter pit complete.
The company expects to begin mining at the starter pit this month, with ore to be stockpiled at the site and the ore haulage to FMR’s Greenfields Mill beginning next month.
Matsa, which has a market capitalisation of $48.37 million, says the first parcel of 50,000 tonnes of ore is expected to be processed in mid-late September 2025. The second processing campaign is scheduled for December 2025.
Executive Chairman Paul Poli says the company has drill rigs, excavator, dozer, water truck, pumps, generators and buildings on site.
“Its a hive of activity and really exciting to see things come together on a daily basis,” Poli says.
“It’s been ‘all hands-on deck’ for some weeks now and I am really pleased to see the high level of activity at the Devon Pit Gold Mine with the mining schedule on track to deliver our first 50,000 tonnes parcel of ore to the FMR plant for processing and gold sales in September.”
According to Trading Economics, gold prices continue to climb, hitting a near one-month high of US$3,380 ($5,190) per ounce, as a fresh wave of weak US economic data and a dovish Federal Reserve outlook.
Gold’s spot price sat at $5,166.89 per ounce at the time of writing, as reported by ABC Bullion.
Matsa adds that commissioning of the dewatering of the existing Devon Pit has begun with the installation of pipework completed and pumping of the water from Devon onto Lake Carey in commissioning stages.
At the starter pit, mining will begin prior to completing dewatering. The company says this is due to the start pit being adjacent to the existing pit undergoing dewatering.
Matsa Resources is focused on becoming a gold producer operating south of Laverton in the north eastern goldfields of Western Australia.
The company will be attending the Noosa Mining Investor Conference, held between 23-25 July, at the Peppers Noosa Resort.
Mining.com.au is an official media partner of this year’s conference.
Write to Aaliyah Rogan at Mining.com.au
Images: Matsa Resources
