Lady Herial Gold Open Pit Update by Lunnon Metals Ltd
Key points
- May 2026 was the best month to date at Lady Herial gold open pit
- Over 52,000 tonnes @ 1.71 g/t Au delivered to Gold Fields
- $10.8 million received from Gold Fields for gold mined in May
- Cash build enabled early repayment of $6.0 million working capital facility
Full summary
Lunnon Metals Ltd (ASX:LM8) reported an update on the Lady Herial open pit gold mine as of May 2026. The mine delivered over 52,000 tonnes of ore at 1.71 g/t gold to Gold Fields, generating approximately $10.8 million in revenue. Operating costs were $3.4 million, resulting in a significant cash build. This cash enabled the early repayment of a $6.0 million working capital facility. The mine is on track to complete operations in August/September, with total ore tonnes and gold delivered to Gold Fields on target. The company remains confident in achieving the results as modeled in the Feasibility Study, despite higher operating costs due to increased diesel prices.
Guidance
No specific financial metrics provided in the announcement.
Outlook
The company remains on track to achieve the results as modeled in the Feasibility Study, with the current cost and gold price profile within the range of the analysis conducted.
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