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Lunnon Metals Limited ( (AU:LM8) ) has issued an announcement.
Lunnon Metals Limited has commenced a 90-day exclusivity period to negotiate a sale and purchase agreement with St Ives Gold Mining Co. Pty Ltd, a subsidiary of Gold Fields Ltd, for processing the Lady Herial gold deposit. The Scoping Study indicates promising financial returns from mining the deposit, and the agreement could enhance Lunnon Metals’ position in the gold market, leveraging the nearby SIGM processing plant and current high gold prices.
The most recent analyst rating on (AU:LM8) stock is a Buy with a A$0.60 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 operates in the mining industry, focusing on gold and nickel exploration and production. The company has significant interests in the Kambalda/St Ives district, known for its prolific gold and nickel production. Lunnon Metals holds exclusive rights to nickel on several mining leases and is actively involved in exploring and evaluating gold prospects, including the Lady Herial deposit.
Average Trading Volume: 126,929
Technical Sentiment Signal: Sell
Learn more about LM8 stock on TipRanks’ Stock Analysis page.