Matsa Resources (ASX:MAT) has completed its first gold pour and produced doré from the Devon Pit Gold Mine in Western Australia, with ore processed through toll milling at the FMR Greenfields Mill in Coolgardie.
The gold doré (a semi-pure alloy of gold and silver) will be delivered to the Perth Mint for refining with gold sales to follow thereafter.
Devon gold ore is continuing to be stockpiled at the Greenfields Mill and at the mine for a processing campaign. The toll milling campaign is expected to run until late September 2025, with results from the campaign to be known shortly thereafter.
Executive Chairman Paul Poli says this is a “landmark occasion” for the company.
“This initial processing campaign will generate significant revenue with the first gold sale to occur in the next week,” Poli says.
“We aim to progress mining at Devon as planned and generate shareholder wealth over the next 18 months.”
This news comes following gold prices continuing to achieve fresh records this week, hitting the US$3,680 ($5,506) per ounce mark yesterday (16 September 2025), as reported.
Gold prices have surged to another record at US$3,692 per ounce as of 10.45am AEST this morning. Trading Economics says this price surge comes as investors weighed stronger-than-expected US economic data and looked ahead to the Federal Reserve’s policy decision on Wednesday.
Devon is currently expected to operate for 18 months, producing in excess of 40,000 ounces of gold. The second processing campaign is scheduled for the end of 2025.
Matsa Resources is a gold miner and explorer operating south of Laverton in the north eastern goldfields region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Matsa Resources
