MATSA RESOURCES LIMITED (MAT)

Devon Gold Project faces operational suspension initiated by contractor Blue Cap Mining Pty Ltd due to alleged unpaid invoices and requests for accelerated payments, including a $6M initial working capital. Despite Matsa Gold Pty Ltd's payment of $22.8M for outstanding invoices, BCM claims further amounts owed, including potential profits from the Devon Mine, and has appointed KPMG as Receivers and Managers for Devon Gold Pty Ltd and associated assets. In response, Matsa has appointed KordaMentha as Administrators for the affected companies and will vigorously defend against BCM's claims. An operational review was initiated on August 21, 2026, prompted by a performance evaluation against the February 2025 feasibility study. Efforts include confirming the geological model and improving production techniques. To settle BCM's invoices, Matsa has expanded its loan facility with Deutsche Balaton Aktiengesellschaft from $17.5m to $37.5m, while extending its repayment date to June 30, 2027, and has secured a new $4M loan facility with DBA.

The company requested a suspension of its securities pending an announcement on the Devon Pit Gold Project operations and a funding proposal. The voluntary suspension was granted until 31 August 2026 and extended to 2 September 2026. As of 2 September 2026, MAT cannot release an announcement to reinstate its securities, which will remain suspended under Listing Rule 17.3 until ASX confirms MAT's compliance with Listing Rules, including Rule 3.1.

The company requests an extension of its voluntary suspension effective immediately, prior to trading on 31 August 2026, as per Listing Rule 17.2. The extension aims to finalize an announcement on the Devon Pit Gold Project and a funding proposal, remaining in effect until normal trading resumes on 2 September 2026 or the announcement is released. The Company knows of no reasons against granting the suspension and has no additional relevant information for the market.

The company's securities will be suspended from quotation under Listing Rule 17.2 at MAT's request, pending an announcement. They will remain suspended until MAT's requested period ends or the announcement is released, unless ASX decides otherwise.

The suspension of trading in the securities of Matsa Resources Limited will be lifted immediately following the release by MAT of an announcement regarding a material transaction involving the disposal of a project.

The company has executed a Tenement Option Agreement with AngloGold Ashanti Australia Ltd, allowing AngloGold Ashanti to acquire the majority of Matsa's Lake Carey Gold Project for A$101M. Matsa retains the Devon Pit Gold Mine, Fortitude North project, and Red October Village, while AngloGold Ashanti has the option to acquire the majority for A$101M.

The company lodges its application for quotation of securities.

The securities of Matsa Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MAT, pending the release of an announcement regarding a material transaction involving the disposal of a project.

The suspension of trading in the securities of Matsa Resources Limited will be lifted immediately following the release by MAT of an announcement regarding a material corporate divestment.

Matsa has executed a binding agreement to sell the Red October and Devon gold projects to Linden Gold Pty Ltd for a consideration of $20M. The consideration consists of a mix of cash and shares in LGL totalling $15M and a deferred payment of $5M. Matsa will be a substantial shareholder of the listed company upon completion, which will contain an existing operating mine and exploration ground already held by LGL as well as the sale assets which are contiguous. The transaction allows Matsa to continue building on itssignificant gold resource base at Lake Carey Gold Project, including the Fortitude Gold Mine where the recent scoping study identified an operating cash surplus of $95M, and define new resources elsewhere including Fortitude North. The sale monetises a portion of the Lake Carey Gold Project and demonstrates the potential value of Matsa's retained exploration assets. Dependent on the final quantum of LGL shares to be issued, Matsa will hold a substantial indirect interest in not only the Red October and Devon gold projects, via its interest in LGL, expected to be a newly listed company, but also the purchaser's existing mining and exploration operations. Matsa retains the 72 room village currently at Red October and its associated infrastructure.

The securities of Matsa Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MAT, pending the release of an announcement regarding a material corporate divestment.

name changed from Kalgoorlie-Boulder Resources Ltd