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Matsa to further develop Lake Carey gold project as mining completes at Red Dog

Matsa Resources Ltd. started work at its wider Lake Carey gold project area in Western Australia, after completing mining at the Red Dog project.

The company said Jan. 11 that it started planning and preparing mine plans to bring two more potential small-scale operations at Lake Carey into production this year.

Matsa also declared a maiden dividend of 0.2 Australian cents per share.

Mining at the Red Dog project was completed in late November 2018, and last ore was hauled to AngloGold Ashanti Ltd.'s Sunrise Dam gold mine in late December 2018.

The Red Dog project produced 12,704 ounces of gold and generated an operating profit of A$5.5 million.