Lunnon Metals Limited ( (AU:LM8) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Lunnon Metals’ shares climbed after the company reported several thick, high‑grade gold hits at its Lady Herial prospect, strengthening confidence that the orebody continues at depth and could support a second‑stage pit cut‑back within the existing permitted area. With mining and environmental approvals already secured and an Ore Purchase Agreement nearing completion, Lunnon is upgrading its study work from a basic scoping study toward a full feasibility study, aiming for better project economics and faster cash generation. Analysts have become more optimistic as the new drilling improves resource certainty, the possible pit cut‑back could reduce mining costs, and a stronger Australian‑dollar gold price supports higher revenue forecasts.
More about Lunnon Metals Limited
YTD Price Performance: 23.88%
Average Trading Volume: 196,817
Technical Sentiment Signal: Buy
Current Market Cap: A$92.69M
For further insights into LM8 stock on TipRanks’ Stock Analysis page.
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