Matsa Resources Limited

Market Data

Latest Earnings

31 March 2026 Quarterly Report

30 April 2026

Matsa Resources delivered strong operational results in Q1 FY2026, generating $28.7M in gold sales from Devon Pit Campaign 2 with 86.16% recovery and operating EBITDA of $6.1M, while commencing a 10,000m diamond drilling program at the Fortitude North exploration target (685,000 to 1.85M oz Au). The company secured a $17.5M working capital facility from Deutsche Balaton (drawn $5M in quarter) to fund ongoing mining and exploration, with cash on hand of $16.7M providing approximately 5 quarters of operational funding. Key points: Campaign 2 gold sales of $28.7M received with 86.16% recovery (above 83% budget and 83.98% Campaign 1), demonstrating operational efficiency improvements; Operating EBITDA of $6.1M from Campaign 2 mining and processing operations shows positive cashflow generation; Commenced 10,000m diamond drilling program at Fortitude North exploration target of 685,000 to 1.85M oz Au with best intercepts including 22m @ 9.2g/t Au