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Lunnon Metals Limited ( (AU:LM8) ) has shared an update.
Lunnon Metals Limited has announced promising results from exploration drilling at the Plentiful gold prospect within its Kambalda Gold & Nickel Project. The drilling extended the mineralized structure to over 450 meters in the dip direction, revealing broader than expected gold mineralization at low to modest grades. This development enhances the potential scale of the Plentiful prospect, suggesting it could be part of a larger system. The company plans to further assess the economic viability of the gold mineralization and continue exploration efforts. This expansion aligns with Lunnon’s strategy to replicate the success of its Lady Herial project, which has already shown potential for significant financial returns.
The most recent analyst rating on (AU:LM8) stock is a Buy with a A$0.80 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 a company focused on the exploration and development of gold and nickel projects. Their primary operations are centered around the Kambalda Gold & Nickel Project (KGNP) in Western Australia, which is strategically located near significant gold mining centers.
Average Trading Volume: 187,802
Technical Sentiment Signal: Buy
Learn more about LM8 stock on TipRanks’ Stock Analysis page.