Lady Herial Gold Open Pit Update
Key points
- June 2026 best month to date with 62,000t @ 1.73 g/t Au
- $12.0 million payment received from Gold Fields for June's gold
- Operations expected to complete in August/September
- Company remains on track for forecast financial results
Full summary
Lunnon Metals Limited (ASX: LM8) provided an update on the Lady Herial gold open pit mine's operations up to June 2026. Despite three days lost to rain, drilling and blasting were completed for the north and south pits. Over 106,000 bank cubic metres were mined, producing 62,000 tonnes at 1.73 g/t Au. The Ore Purchase Agreement with Gold Fields Ltd's subsidiary, St Ives Gold Mining Co. Pty Ltd, continues to operate smoothly. For June, Gold Fields paid approximately $12.0 million, while Lunnon Metals' expenses were $3.0 million. The company expects operations to conclude in August/September, with total ore tonnes and gold delivered on target. The average gold price realised to date is $6,429/oz, approximately 3% above the $6,250/oz level modelled in the Feasibility Study. The company remains on track to achieve a free cash flow total within 7% of the results modelled in the Feasibility Study.
Guidance
Company remains on track for forecast financial results
Outlook
Operations expected to complete in August/September, with total ore tonnes and gold delivered on target.
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