Matsa Resources Executes $101 Million Deal with AngloGold Ashanti

About Matsa Resources Limited

Matsa Resources Limited (ASX: MAT), founded in 2003, is an exploration and development company headquartered in Perth, Western Australia, focused on high-grade gold projects. The company has built a strong portfolio of assets across the Lake Carey Gold Project, the Devon Pit Gold Mine, and Fortitude North, positioning itself for both near-term mining operations and long-term exploration upside. By securing strategic partnerships with major mining companies, Matsa aims to unlock value from its projects while maintaining exposure to high-potential discoveries.

Unlocking Value Through the AngloGold Ashanti Deal

The Lake Carey Gold Project has been one of Matsa’s flagship assets, and the A$101 million deal with AngloGold Ashanti underscores the project’s long-term potential. The agreement grants AngloGold Ashanti an 18-month option to acquire the project, with a non-refundable A$8 million upfront fee ensuring immediate value creation for Matsa.

If the option is exercised, A$73 million will be payable based on 1.875% of the gold price and the agreed 936,000-ounce resource estimate, with an additional A$20 million deferred payment linked to future gold discoveries. The transaction structure reflects the significant exploration upside within the project area while providing Matsa with capital to accelerate its development pipeline.

Matsa’s Executive Chairman, Paul Poli, described the deal as a major validation of the project’s exploration potential. He highlighted that the agreement allows Matsa to retain near-term mining assets, including the Devon Pit Gold Mine, while benefiting from AngloGold Ashanti’s ability to advance the Lake Carey Gold Project at scale.

Focusing on Devon and Fortitude North Exploration

With Lake Carey transitioning under AngloGold Ashanti’s control, Matsa is shifting its focus to the Devon Pit Gold Mine and Fortitude North, both of which have demonstrated high-grade gold potential. The Devon Pit Gold Mine remains Matsa’s most advanced near-term production asset, with mining expected to commence in the near future.

The Fortitude North project is also emerging as a significant exploration target, with recent drilling confirming high-grade intercepts, including 12.98g/t gold. Matsa intends to allocate part of the proceeds from the AngloGold deal toward further exploration, enhancing its overall gold resource base.

The sale of Lake Carey does not impact Matsa’s broader exploration ambitions, as the company retains ownership of key tenements and continues to seek new opportunities in Western Australia’s gold sector.

Strategic Positioning in the Gold Sector

The gold sector remains strong, with gold prices hovering at record highs amid ongoing global economic uncertainty. Matsa’s ability to monetise a major asset while retaining exposure to high-grade gold projects places it in a strong strategic position.

With a fully funded exploration and development plan, Matsa is now well-positioned to accelerate production at Devon, expand drilling at Fortitude North, and identify new gold targets. Investors will closely monitor how the company deploys capital from the AngloGold Ashanti deal, as well as any additional exploration success that could further enhance shareholder value.

By executing this A$101 million deal, Matsa Resources has secured both immediate financial returns and long-term growth potential, reinforcing its standing as a high-potential gold exploration and development company.