Matsa Resources Limited announced the results of an engineering concept study commissioned by Matsa and completed by CPC Project Design for a proposed Matsa owned 600,000tpa gold-ore treatment plant for the Lake Carey Gold project. While the location of the plant has not been finalised, the likely position of the plant would be suited to the Red October, Devon and Fortitude mines and be well located centrally to any potential future resources such as Fortitude North. The study's results demonstrate the company owned and operated treatment plant located centrally to the existing Fortitude gold mine to significantly and positively impact the financial results of the company’s mining opportunities. Key results of the study (accuracy level +/- 40%) show: capital cost of a 600,000tpa gold-ore treatment plant to be AUD 35.4 million, plus a contingency of AUD 7.1 million. Additional capital cost of associated infrastructure to be AUD 13.6 million, plus a contingency of AUD 2.7 million. Ore processing costs to be AUD 32.26/t, plus a contingency of AUD 5.54/t. Overall project duration of 18 months from decision to proceed with a construction time of 12 months. Potential to increase ore treatment capacity to 1,000,000tpa.