Matsa Resources Limited (ASX: MAT), an Australian gold explorer and developer with projects primarily in Western Australia and Thailand, focusing on discovering and delineating economically viable mineral deposits, announced today, November 9, 2026, the adjournment of the Second Creditors Meeting for its wholly-owned subsidiaries. The meeting for Matsa Gold Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) and Devon Gold Mining Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) was initially convened to consider a proposed Deed of Company Arrangement (“Proposed DOCA”), a crucial step in resolving the financial affairs of the subsidiaries. This meeting has now been rescheduled to Thursday, November 12, 2026.
The decision to adjourn was made by Administrators Richard Tucker and Jared Palandri of KordaMentha, who advised creditors that additional time was required. This extra time is necessary to thoroughly evaluate an alternative deed of company arrangement proposal, which notably surfaced as the meeting was commencing. This development follows a Supplementary Report issued by the Administrators on November 5, 2026, which had reaffirmed their earlier recommendation for creditors to vote in favour of Matsa’s initial Proposed DOCA for the subsidiaries.
Creditors can expect to receive a further Supplementary Report from the Administrators early next week. This upcoming report is anticipated to provide detailed insights into the newly received proposal and its implications, offering clarity before the reconvened Second Meeting of Creditors. Matsa Resources Limited has committed to transparently advising shareholders on the ongoing status and progress of this matter through subsequent ASX announcements as developments unfold.
