Matsa signs mining services deal for Devon Pit gold mine
ASX-listed Matsa Resources has executed a binding mining services agreement with Blue Cap Mining (BCM) for the development of the Devon Pit gold mine, in Matsa’s Lake Carey gold project in Western Australia. The agreement outlines a profit-sharing model in which BCM will manage and operate the Devon mine on an open-book cost basis. BCM’s return will be determined through a 20% profit share arrangement with Matsa. In addition, BCM’s private equity division, Blue Capital Equities (BCE), will provide up to A$6-million in working capital for the project.
ASX-listed Matsa Resources has executed a binding mining services agreement with Blue Cap Mining (BCM) for the development of the Devon Pit gold mine, in Matsa’s Lake Carey gold project in Western Australia.
The agreement outlines a profit-sharing model in which BCM will manage and operate the Devon mine on an open-book cost basis. BCM’s return will be determined through a 20% profit share arrangement with Matsa. In addition, BCM’s private equity division, Blue Capital Equities (BCE), will provide up to A$6-million in working capital for the project.
