Lunnon Metals (ASX:LM8) has received approval from its board of directors for the final investment decision (FID) for Lady Herial, following completion of the feasibility study on 16 January 2026 and the ore purchase agreement with St Ives as previously reported.
The feasibility study outlined a short-life, high grade, low strip ratio open pit, to be mined and processed within 8-10 months.
Lunnon has identified Hampton Civil and Mining and Goldfields Technical Services of Kalgoorlie (GTS) as its preferred contracts, with Hamptons for mining and GTS to take on statutory positions, operational blast design, dig plans, mine geology, surveying, and general site/run of mine pad management.
Contracts are currently being prepared and are expected to be executed in the short term, after which mining can commence.
Non-Executive Chair Liam Twigger says that the FID is a proud moment for the company.
“To go from discovery at Lady Herial to production in under two years is outstanding and provides a great template and platform to build shareholder value,” Twigger says.
Lunnon is confident that, together with its contractors and St Ives, the company can deliver Lady Herial’s mine plan safely, efficiently, and profitably, considering the current gold prices.
Lunnon Metals is a gold and nickel explorer and developer operating in the Kambalda/St Ives gold camp, one of Australia’s most prolific gold production regions.
Write to Amy Rotman at Mining.com.au
Images: Lunnon Metals
