Matsa Resources signed a binding heads of agreement with BML Ventures for mining operations at the Devon Pit gold mine in Western Australia's Lake Carey Gold Project.
BML, a Kalgoorlie-based contractor, will manage and finance the entire mining operation, starting in the second half and concluding by late 2025.
Profits will be evenly split after cost recovery. Matsa aims to capitalise on the Devon Pit gold mine's commercial potential, targeting a 9-10 month mine life.
Discussions with ore processing plants and progress on environmental permits are ongoing.