News: Matsa Resources' substantial holder in on-market buying spree

Matsa Resources (ASX:MAT) has received a notice of change of interests of substantial holder from Bulletin Resources (ASX:BNR).

Bulletin has increased its stake in Matsa by over one percentage point to 25.42%, through on-market purchases.

Matsa is well-funded and holds circa $14 million in cash and liquid equities, and is focused on projects in Australia and Thailand.

In Australia, the company's wholly-owned Symons Hill located within the Fraser Range Tectonic zone, six kilometres from Sirius Resources (ASX:SIR) Nova nickel mine.

In Thailand, its Siam Copper Project recently yielded a 10cm vein returning an assay of 45% copper and 123g/t silver.

This is likely to be the source of recent float sample RK142, which returned 54.7% copper and 148g/t silver.