AngloGold Ashanti Australia and Matsa Resources have signed a memorandum of understanding (MOU) to benefit the latter’s gold mining and exploration at the Lake Carey gold project in Western Australia.
The two companies will share technical data and commit to working together “openly, fairly and in a mutually beneficial way” according to a statement released by Matsa today.
Prior to the MOU announcement, Matsa and AngloGold Ashanti had been working together over the past two years on the Fortitude gold deposit, one of several deposits that comprise the project as a whole. The MOU covers an area incorporating Matsa’s Lake Carey and Red October projects and AngloGold’s Lake Carey and Sunrise Dam operations.
Paul Poli, executive chairman of Matsa said that the agreement represented a massive increase in the potential of the company’s Fortitude, Red October and Red Dog mines in particular.
“Matsa and AngloGold have developed a strong working relationship with each other and this MOU strengthens that relationship to help identify and develop new gold deposits to both parties’ benefit,” he said.
“Both companies are winners with this co-operation as it allows Matsa access to facilities and knowledge that has been developed by AngloGold over many years.”
AngloGold will receive first option as part of the non-binding MOU and attempt to treat Matsa’s gold ore within the subject area. The two will also have the ability to share infrastructure such as airports and roads when applicable.