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Lunnon Metals Limited ( (AU:LM8) ) has shared an update.
Lunnon Metals has secured the final regulatory approval needed to advance its Lady Herial open-pit gold development at the Kambalda Gold & Nickel Project, with the Western Australian Department of Mines, Petroleum and Exploration granting a Native Vegetation Clearing Permit. This approval satisfies the last regulatory condition for the company’s Ore Purchase Agreement with major shareholder St Ives Gold Mining, leaving only agreement on the mine schedule before the deal becomes unconditional, enabling completion of the feasibility study, a final investment decision by the board, execution of mining contracts and commencement of site clearing, with St Ives to process all mined ore above 0.5 g/t gold and Lunnon to receive 70% of free cash flow after cost recovery.
The most recent analyst rating on (AU:LM8) stock is a Hold with a A$0.40 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 the Kambalda Gold & Nickel Project in Western Australia, where it is advancing both gold and nickel assets. The company is developing the Lady Herial deposit, a high-grade, shallow open-pit gold project located on granted mining leases with established nearby processing infrastructure through its major shareholder St Ives Gold Mining Co. Pty Ltd.
Average Trading Volume: 179,219
Technical Sentiment Signal: Buy
Current Market Cap: A$79.29M
For an in-depth examination of LM8 stock, go to TipRanks’ Overview page.