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Lunnon Metals Limited ( (AU:LM8) ) has issued an update.
Lunnon Metals has confirmed that its Ore Purchase Agreement with St Ives Gold Mining is now unconditional after both parties agreed a detailed bench-by-bench mine schedule for the planned Lady Herial open pit, enabling completion of the project’s Feasibility Study and positioning the board to make a final investment decision and commence mining. With all regulatory approvals secured, the company has begun vegetation clearing and reverse circulation drilling in newly accessible areas, targeting additional gold mineralisation near an historic shaft that lies outside the current mineral resource but within the pit design, potentially enhancing project economics and accelerating Lunnon’s shift from explorer to producer.
The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.46 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 mining company focused on advancing its gold and base metals assets in Western Australia. The company is transitioning projects from exploration towards development and production, working closely with major shareholder St Ives Gold Mining Co. Pty Ltd on operations such as the Lady Herial open pit.
Average Trading Volume: 202,214
Technical Sentiment Signal: Buy
Current Market Cap: A$94.92M
For an in-depth examination of LM8 stock, go to TipRanks’ Overview page.