PERTH (miningweekly.com) – ASX-listed junior Matsa Resources will start mining at its Red Dog gold project, in Western Australia, in early August.
The company on Wednesday said that some 182 000 t of ore, grading 2.5 g/t gold will be recovered over the 16-week mining period, delivering around 13 400 oz of gold.
The project is expected to have an all-in sustaining cost of A$1 294/oz, and will generate revenues of A$22.7-million.
Matsa told shareholders that the capital and operational cash requirements of the mine will be funded by the company’s existing cash reserves without the need to raise any additional capital.
All the necessary approvals and ore purchase agreements for the project are in place, and contracts for mining and haulage were being finalised.