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MAT - Matsa Resources

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noirua said:
Gold results look to be only significant and no sign of the word Bonanza: http://www.asx.com.au/asxpdf/20170405/pdf/43h9l4n9mg8n3n.pdf

Why they request a Trading Halt beats me on these occasions.
Click to expand...

And so it came to pass. The results proved quite ordinary and only a very big mine would prove to be profitable. So on we go hoping for excellent results. Matsa are a fairly good mining company and should come good one day.
 
Another Trading Halt concerning a progress update on the Lake Carey Project. To be released by next Wednesday. Hopefully better results this time to justify it. Or as pointed out, it could also be bad results to justify it. Crossing my fingers after a very long hold from about 44c a share.
http://www.asx.com.au/asxpdf/20170519/pdf/43jd1zjwpzm38y.pdf
 
Recent gold drill results and mining activity are excellent but have been ignored by the market. Also the recent acquisition of the 119 sq. km lease in the Fraser Ranges (nickel/copper) adjacent to existing outstanding finds should not be ignored, although its effect on the share price is likely to be later in the year.
My top tip.
 
Have been researching small gold players lately with the sharp drop in gold price. MAT came up when I was looking at DCN - agree here some really good grades ignored by the market (must be a reason?). Looks like they have lots of projects on the go, probably too many for such a small company?

Balance sheet not great, cash-flow and current ratio need to be much better and looks in dire need of a recapitalization. Would have some interest if that happens.
 
Never owned MAT but Paul Poli and Frank Sibbel (also Directors of BNR) had a hand in the in speci deal with PNR many years back

MAT are still a major shareholder of BNR ( Recently sold down from 27% to 20% of the Co.)

Paul and Co. swung a pretty good deal for we BNR shareholders back then so no complaints about that

With that said, I'm really glad the original deal with MAT taking over the Nicholson tenements from BNR did not eventuate

They seem to take a long time getting things to the home plate for some reason


On the flip side:

The current SP looks to be about as low as it should get

Only about 270 million SOI

Top 20 S/H's own approx. 55%

Realistically, it should not take a lot to get it moving.
 
I see a cap raising for 8 cents to generate 2 million has been announced and the SP is at 7.7- They've had good grade hits and its not got moving. That's the concern. I think it will take a lot to get moving.

Current ratio is 0.45, dropped from 0.8. Take out exploration valuations, etc. and net assets is in the negatives. There are plenty of similar MC juniors cashed up with 5+ million in minimal debt (I'm now looking at PRX and CAZ).
 
MAT looks to be turning around a little with some showing interest and higher prices. Have they found a little Lithium on site.

 
Just was thinking about MAT while posting on BCN.

Only a few short days ago they released a statement suggesting their deal to sell leases had essentially fallen through and $4 million of debt was due end of November, now they have lithium bearing pegmatites in Thailand yet not a single grade is in the release? A liquidity event for the recent capital raising maybe? Should be interesting to see how they finish the day.


 

Matsa Resources (ASX:MAT) forms JV with Linden Gold Alliance for Devon, WA

Matsa Resources (ASX:MAT) is entering a joint venture with Linden Gold Alliance to advance the Devon project into production.
themarketherald.com.au
Matsa Resources (MAT) has executed an indicative term sheet with Linden Gold Alliance to advance the Devon project in Western Australia.

The companies entered a sale and purchase agreement (SPA) in December last year for the sale of the Red October and Devon pits and associated tenements within Matsa’s broader Lake Carey project.
 
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