Matsa Resources Confirms All Conditions Met for $45M AngloGold Final Payment
Key Takeaways
- All conditions for AngloGold Ashanti's early exercise of its option over Lake Carey Gold Project tenements have been met, moving the deal from conditional to a defined settlement window.
- Matsa expects the final $45M within 15 business days, completing a $55 million sale of five tenements near Laverton, Western Australia.
- The $10M deposit was received on 25 September 2026, so only the $45M balance remains outstanding.
- The announcement does not disclose use of proceeds, Matsa's cash balance, or the valuation of its remaining Lake Carey assets.
- Matsa will confirm completion by further ASX announcement once the final payment has been received.
All conditions finalised for AngloGold Ashanti option
Matsa Resources has advised that all conditions for AngloGold Ashanti Australia Limited’s early exercise of its option over specific tenements of the Lake Carey Gold Project, near Laverton, Western Australia, have now been met.
Settlement will occur within 15 business days. That is when the company expects to receive the final amount of $45M from AngloGold Ashanti for the sale of the five tenements.
For you as an investor, the deal has moved from conditional to a defined settlement window. That narrows the uncertainty around the remaining payment, though the money has not yet been received.
The announcement refers back to the revised Tenement Option Agreement (“Revised TOA”) signed on 22 September 2026, which is background to this update.
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$55 million deal timeline: from option exercise to settlement
The sequence has been short. The steps below follow the announcement and the two earlier ASX announcements it references.
- 22 September 2026: Matsa and AngloGold Ashanti entered into the Revised TOA, and AngloGold Ashanti exercised the option early. The earlier announcement headline cites $55 million.
- 25 September 2026: Matsa advised it had received the $10M deposit from AngloGold Ashanti.
- 15 October 2026: Matsa advised all conditions had been met.
- Within 15 business days: Settlement, when Matsa expects to receive the final $45M.
| Milestone | Date | Amount | Status |
|---|---|---|---|
| Revised TOA entered; option exercised early | 22 September 2026 | $55 million (per earlier announcement headline) | Completed |
| Deposit received | 25 September 2026 | $10M | Received |
| All conditions finalised | 15 October 2026 | N/A | Completed |
| Settlement and final payment | Within 15 business days | $45M | Expected |
The two payments, $10M and $45M, add up to the $55 million cited in the earlier headline.
What an early option exercise means for investors
A tenement is a granted right to explore or mine a defined area of land. A tenement option agreement gives a buyer the right to acquire specified tenements on agreed terms. “Exercising early” means the buyer has chosen to use that right ahead of schedule.
Here, AngloGold Ashanti exercised the option early to acquire specific tenements of the Lake Carey Gold Project. The announcement does not detail the Revised TOA’s terms beyond this.
A $55 million sale of five tenements, with $10M already received and $45M pending, is a material cash event for Matsa. The announcement does not say how the proceeds will be used, what Matsa’s cash balance is, or how the remaining Lake Carey assets are valued.
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Next steps: final completion payment
Matsa has said it will keep shareholders informed by way of further ASX announcements once the final completion payment has been received.
Key points to watch:
- Settlement within 15 business days
- Receipt of the final $45M
- A further ASX announcement confirming completion
Further information is available from Paul Poli, Executive Chairman, on 08 9230 3555 or reception@matsa.com.au.
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