Matsa Resources sells tenements for $55M

• Matsa Resources has finalised an early option exercise with AngloGold Ashanti to sell tenements at its Lake Carey Gold Project for $55 million.
• Under the revised deal, Matsa receives an immediate $10 million deposit, with the remaining $45 million due upon completion.
• The fixed-cash structure replaces a previous formula linked to fluctuating gold prices and deferred payments.

Matsa Resources (ASX:MAT) has agreed to sell tenements at its Lake Carey Gold Project to AngloGold Ashanti Australia for $55 million after AngloGold exercised its option early.

The transaction replaces a previous structure that relied on a formula tied to gold prices alongside deferred consideration.

Under the terms of the revised agreement, Matsa will collect an initial $10 million deposit within 3 business days.

Completion of the sale and payment of the remaining $45 million rely on Matsa securing ministerial consent and third-party contractual approvals within 15 business days.

The company stated that it will inform shareholders of the exact proposed use of funds once the payments clear.

Following the announcement the Matsa Resources share price was unchanged at $0.047.

The Lake Carey Gold Project sits in the Laverton region of Western Australia, near several established mining operations.