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Lunnon Metals Limited (ASX:LM8)

ALERT: Price-sensitive ASX Announcement for LM8
Current share price for LM8 : $0.290 -0.05 (-14.71%)+
Announcement
Release
19 Jun 2026 8:17AM
Price at Release
$0.340
Full Release
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Summary
Lunnon Metals Limited reported a successful month in May 2026 for their Lady Herial Gold Open Pit, delivering over 52,000 tonnes of ore at 1.71 grams per tonne of gold to St Ives Gold Mining Co. Pty Ltd, a subsidiary of Gold Fields Ltd. The company received approximately $10.8 million from these deliveries while incurring costs of about $3.4 million, resulting in a substantial cash build. This enabled Lunnon Metals to fully repay a $6 million working capital facility to Bedrock Alpha Credit Income Fund. The operations are in line with the feasibility study, with 76% of the pit volume mined and 44% of the gold extracted. The higher grades accessed on the remaining benches are expected to improve margins as operations are scheduled to complete by August/September 2026.
Key Points
  • May 2026 was the best month to date for Lady Herial open pit.
  • Over 52,000 tonnes delivered to Gold Fields yielding 2,865oz of gold.
  • $10.8 million received for May's gold deliveries.
  • Operating expenses for May totaled approximately $3.4 million.
  • Repayment of a $6 million working capital facility to Bedrock.
  • 76% of the total pit volume mined, with 44% of gold extracted.
  • Higher grades on remaining benches expected to improve margins.
  • Operations scheduled to complete by August/September 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.