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Lunnon Metals Limited ( (AU:LM8) ) just unveiled an announcement.
Lunnon Metals has approved the final investment decision for its Lady Herial open-pit gold project after a feasibility study confirmed strong economics for an 8–10 month, high-grade, low strip ratio operation. With an unconditional ore purchase agreement now in place with major shareholder St Ives Gold Mining Co. and preferred mining and technical contractors selected, the project is expected to generate pre-tax operating free cash flow of more than A$40 million at prevailing near-record Australian dollar gold prices, marking a rapid transition from discovery to production in under two years and signalling a significant step in reviving mining activity in the Foster belt.
The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.49 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 developing gold and nickel assets in Western Australia’s historic Foster belt, where it is working to restart production after more than three decades. The company targets high-grade, short-life deposits that can be rapidly brought into production, leveraging nearby processing infrastructure and partnerships with established operators such as St Ives Gold Mining Co. Pty Ltd.
Average Trading Volume: 212,246
Technical Sentiment Signal: Buy
Current Market Cap: A$108.3M
See more insights into LM8 stock on TipRanks’ Stock Analysis page.