Lunnon Metals (ASX:LM8) updates Lady Herial open pit operations
May 20, 2026Lunnon Metals has provided an April 2026 operational update on activities at the Lady Herial open pit gold mine, outlining mining progression, ore movements, operating costs, ore deliveries, and production targets and forecast financial information based on the Feasibility Study released on 16 January 2026.
Highlights
- Continued strong operating performance at Lady Herial throughout April 2026.
- Mining progressing to schedule, generating robust positive cash flows.
- Over 54,000t @ 1.32 g/t Au (2,298oz) delivered to Gold Fields.
- $9.0m paid by Gold Fields for April’s deliveries versus Lunnon Metals’ costs of $3.65m, excluding GST and unaudited.
Mining continued to plan throughout April, unaffected by any significant weather events or diesel availability, with operations progressing to the 300mRL bench, where surface is approximately 315mRL and the planned pit bottom is approximately 270mRL.
Total volume mined for the month was just over 200,000BCM and total ore mined was over 54,000t @ 1.32 g/t Au containing 2,298oz gold.
The Ore Purchase Agreement with Gold Fields’ subsidiary, St Ives Gold Mining Co. Pty Ltd, continues to operate as planned.
For the month of April 2026, the company invoiced SIGM approximately $9.0m, GST exclusive and unaudited, with payment received in full.
Outgoing expenses directly related to the Lady Herial operation for the same period totalled approximately $3.65m, GST exclusive and unaudited.
Drilling and blasting was completed for the 305mRL bench and commenced on the 300mRL bench, while rehabilitation of the waste dumps is underway and runs in parallel to the mining operations.
The outlook section states that planned waste and ore movements over the coming months indicate operations will finish in August/September, in line with the schedule outlined in the Feasibility Study, with total ore tonnes and gold delivered to SIGM also on target.
The gold price applicable to April’s ore deliveries to SIGM under the Ore Purchase Agreement was A$6,661.62/oz, with the price realised to date continuing to be above the A$6,250/oz level that was modelled in the Feasibility Study, compensating for the impact of higher diesel costs.
The production targets and forecast financial information referred to in the announcement are based on the Feasibility Study released on 16 January 2026, with these forecasts subject to risks and uncertainties, including commodity price, operating costs, mining performance and other factors that may be beyond the control of the company.
Lunnon Metals stated actual results may differ materially, and investors should refer to the Forward Looking Statements and Disclaimer at the end of the report.
Lady Herial is within the Kambalda Gold & Nickel Project, which features approximately 47sqkm of tenements in the Kambalda/St Ives district, located approximately 570km east of Perth and 50 to 70km south southeast of Kalgoorlie in the Eastern Goldfields of Western Australia.
The KGNP comprises two project areas, Foster and Baker, with 19 contiguous mining leases, and Silver Lake and Fisher, with 20 contiguous mining leases, with the release also stating that the KGNP is accessed via public roads, well established mine road infrastructure and the main St Ives causeway over Lake Lefroy.
The KGNP is broadly surrounded by tenements held by SIGM, a wholly owned subsidiary of Gold Fields Limited and the company’s major shareholder.
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