Matsa Resources Limited Raises $3.13 million to Accelerate Gold Mine Development

Highlights:

• $3.13 million Capital Raise: Matsa Resources Limited (ASX: MAT) successfully completed a share placement, issuing 82.36 million shares at $0.038 per share to raise $3.13 million for the development of the Devon Pit Gold Mine.
• Strong Shareholder Support: The placement received backing from Matsa's largest shareholders, Deutsche Balaton and Bulletin Resources Limited (ASX: BNR), along with a new investor, The Flagship Fund.
• Fast-Tracking Devon Mine Development: The funds raised will be used to fast-track mining operations at the Devon Pit Gold Mine, with final agreements for contractors and processing facilities expected by the end of the quarter.

Capital Raise Secures Strong Support for Matsa's Growth Plans

Matsa Resources Limited (ASX: MAT) has successfully completed a capital raising of $3.13 million through a share placement to three corporate investors, including a new sophisticated shareholder, The Flagship Fund. At the time of writing, 82.36 million shares were issued at an issue price of $0.038 per share, which is in line with the current market price. The funds raised will be used to fast-track the development and mining of the Devon Pit Gold Mine and support working capital requirements.

Strong Shareholder Backing for the Capital Raise

The placement received robust support from Matsa's two largest shareholders: Deutsche Balaton and Bulletin Resources Limited (ASX: BNR). Both have been strong supporters of the company’s projects, including the development of the Devon Pit Gold Mine. The addition of The Flagship Fund, an Australian-based fund manager for sophisticated investors, marks a significant milestone for Matsa. The fund’s involvement as a cornerstone investor underscores the confidence in Matsa’s growth strategy.

Funding Allocation and Project Milestones

The funds raised will be pivotal in finalizing preparations for mining at Devon, with agreements for a mining contractor and processing facilities expected to be finalized by the end of this quarter. Matsa’s Executive Chairman, Paul Poli, expressed confidence in the project’s potential, highlighting that the capital raising will enable the company to bring the Devon Gold Mine into production, which is anticipated to provide substantial benefits in the near term.

With the placement successfully completed, Matsa Resources Limited is poised to accelerate its efforts to develop one of its key assets, the Devon Pit Gold Mine, which will play a crucial role in the company’s future growth.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com