Matsa Resources Secures AU$3.13 million to Fast-Track Devon Pit Gold Mine.

Matsa Resources Limited (ASX: MAT) has successfully raised AU$3.13 million through a share placement at AU$0.038 per share to accelerate the development and mining of the Devon Pit Gold Mine. The placement was strongly backed by Matsa’s two largest shareholders, Deutsche Balaton and Bulletin Resources Limited, along with the introduction of The Flagship Fund, a new institutional investor.

The funds will be used to finalize key agreements with mining contractors, third-party processing plants, and lenders, with completion expected by the end of this quarter. Matsa issued 82.36 million shares under its existing ASX Listing Rule 7.1 capacity. The company’s market capitalization now stands at AU$23.41 million, with its share price at 3.6 cents as of January 28, 2025. This funding marks a significant step toward bringing Devon into production, reinforcing Matsa’s strategic growth in the gold sector.

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