Australia's Matsa hits 2-month high on JV for WA gold project

Matsa Resources

14/11/2022 02:24

** Shares of Matsa Resources Ltd  MAT.AX  rise as much as
10% to A$0.044, their highest since Sept 15
    ** Gold miner says it has finalised a formal binding
profit-sharing joint venture with Linden Gold Alliance
Ltd urn:newsml:reuters.com:*:nASX2HhlDQ
    ** Says joint venture in respect of co's Devon Gold Pit in
Western Australia 
    ** Says co will receive an upfront prepayment of A$4 mln
($2.68 mln) cash from Linden for a 50% profit share in Devon Pit
    ** Stock posts its biggest intraday pct jump since Oct 18
    ** More than 504,400 shares change hands, compared with the
30-day average volume of 265,650 shares 
    ** Shares down 29.8% this year, as of last close 
($1 = 1.4948 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))