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The latest update is out from Lunnon Metals Limited ( (AU:LM8) ).
Lunnon Metals has signed key mining and technical services contracts with Hampton Mining & Civil Services and Goldfields Technical Services, enabling site establishment and the imminent start of open-pit mining at the Lady Herial gold project at St Ives. Lady Herial is notable as the first new mine on the Foster belt in more than 30 years and the first open pit at St Ives since 2014.
Mining of the first gold ore is scheduled to begin later this month, with a feasibility study indicating that approximately 268,000 tonnes at 1.89g/t Au for 16,270 ounces could generate about A$45 million in pre-tax cash flow at current record Australian gold prices. The project, supported by an Ore Purchasing Agreement with St Ives Gold Mining Co. Pty Ltd, marks a key operational milestone for Lunnon Metals and underscores its shift from explorer to producer in a high-price gold environment.
The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.34 price target. To see the full list of analyst forecasts on Lunnon Metals Limited stock, see the AU:LM8 Stock Forecast page.
More about Lunnon Metals Limited
Lunnon Metals Limited is an ASX-listed resources company focused on gold and nickel mining in the Kambalda region of Western Australia, particularly the Foster belt and the broader Foster-Baker project area. The company leverages historical geological data and partnerships with local operators to bring new open-pit and underground opportunities into production in a mature but historically significant mining district.
Average Trading Volume: 248,400
Technical Sentiment Signal: Buy
Current Market Cap: A$78.17M
For detailed information about LM8 stock, go to TipRanks’ Stock Analysis page.