trending Market Intelligence /marketintelligence/en/news-insights/trending/EYklkj7HkSONMfXYlbOl_g2 content esgSubNav
In This List

Matsa Resources outlines A$6.6M capex for stage 2 of Fortitude gold mine

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Matsa Resources outlines A$6.6M capex for stage 2 of Fortitude gold mine

Matsa Resources Ltd.'s mining study for the proposed stage-two mining operations at its Fortitude gold deposit, part of the Lake Carey project in Western Australia, outlined capital expenditure of A$6.6 million, including A$5.1 million for pre-stripping overburden removal.

The study showed that second-stage mining is attractive with a potential cash surplus of A$21.8 million over 22 months, according to an Aug. 21 release.

Total production was estimated at 54,400 ounces of gold at 93% recovery at operating cash costs of A$1,628 per ounce.

A maiden ore reserve for the Fortitude stage-two mining study totaled 1 Mt at 1.8 g/t gold containing 58,100 gold ounces. The total indicated and inferred mineral resources at Fortitude stands at 5.4 million tonnes at 2.0 g/t gold containing 342,600 ounces.

The company noted that it holds all approvals necessary for the second-stage mining project.