Matsa Resources Limited (ASX:MAT) entered into an agreement to acquire Zelica Gold Project from Anova Metals Limited (ASX:AWV) for AUD 0.15 million on October 29, 2018. The consideration will be payable in cash. The transaction is subject to due diligence to Matsa's satisfaction and ministerial consent under the Mining Act for the transfer of tenements by December 20, 2018, unless waived by the buyer. Anova Metals Limited receives a 1.5% net smelter return on the first 25,000 tonnes of gold bearing ore produced and a 1% net smelter return on the next 25,000 tonnes of gold bearing ore produced.

Matsa Resources Limited (ASX:MAT) completed the acquisition of Zelica Gold Project from Anova Metals Limited (ASX:AWV) on January 15, 2019.