Lunnon Metals
Primary tickers: ASX:LM8
Stage of development: Exploration
Primary minerals: Au, Ni
Project to promote: Lunnon Metals Kambalda Gold and Nickel Project
Project location: Kambalda, Western Australia
Website: www.lunnonmetals.com.au
Lunnon Metals Ltd is a gold explorer and developer with an enviable position in one of the world’s great dual commodity belts, the St Ives (Au)/Kambalda (Ni) district. With over A$19M cash, the company is enjoying considerable discovery success for gold and offers unrivalled leverage to gold and nickel discovery and production. Its portfolio on granted Mining Licences, allows short lead times for regulatory approval and with a tightly held register and Gold Fields Ltd as a major shareholder, the Company is primed to respond strongly to commodity price moves and a robust discovery and development news flow.
Cash: AUD$19.5M
Debt: AUD$0M
Major shareholders:
St Ives Gold Mining Company – 37.85%
Bolong Australia Investment Management Pty Ltd – 10.45%
Management ownership – 2.40%
Financials
Management Profile
Edmund Ainscough, Managing Director
Edmund has over 35 years’ experience in the resources sector in Australia, UK, New Zealand and Africa. He has been successful in roles in investment banking, strategic corporate development, as a senior executive for a global major, and also multi-disciplinary roles in the operating environment. He co-founded Lunnon Metals Ltd and has led it since inception, through its 2021 ASX listing, making a significant nickel discovery, that drove its valuation over A$200 million. With the rapid deterioration in nickel market, Edmund has pivoted the group to become a successful gold explorer with production now possible in the short term future.
What is your rationale for taking part in 121 Mining Investment?
The Company is attending 121 Mining Investment to introduce its successful gold story and exciting future growth potential to a new set of investors, based in the UK and Europe. The opportunity to return the Company’s value to over A$200 million though gold discovery and production is significant and tangible. New investors have the chance to join that journey at IPO price levels and below. With over A$19m cash, and a near term prospective open pit able to be permitted and potentially mined within the next 6-12 months, new investors can take confidence that Lunnon Metals stands out from its peers in regard address, endowment, opportunities and with no need to engage in dilutive equity raisings.
What recent news would you like to highlight to investors attending?
• 19 February 2025 – Excellent Gold Recoveries from Lady Herial – Clarification
• 18 February 2025 – Investor Presentation – RIU Explorers Conference
• 17 February 2025 – Lady Herial Test Work Delivers Excellent Gold Recoveries
• 5 February 2025 – Defiance West EIS Drilling Program Commences
• 17 January 2025 – Lady Herial Program Update
• 13 January 2025 – Success at Guiding Star Opens Up Foster Gold Belt
• 9 January 2025 – Lunnon Metals and the Ngadju People Sign Mining Agreement
• 17 December 2024 – Shallow Gold & Key Host Rock Intersected East of Foster Mine
• 13 December 2024 – Lady Herial Delivers More Positive Results
• 28 November 2024 – 16m @ 2.94g/t Au Kicks Off Lady Herial Infill Results
• 23 October 2024 – Successful EIS Grant to Test Exciting Defiance West Target
• 17 October 2024 – Gold Opportunity Confirmed by Grab Sample Results
• 10 October 2024 – Lady Herial Continues to Grow Gold Program to Be Expanded
• 1 October 2024 – 23m at 16.61g/t Au Headlines Latest Lady Herial Results
What are your key goals for the next 3, 6 and 12 months?
3 Months:
– Define Lady Herial to grade control levels and de-risk geology/grade estimates
– Declare an initial gold mineral resource
– Permit the development and production of an open pit
– Progress the remainder of the company’s gold portfolio
6 Months:
– Award mining contracts for Lady Herial
– Agree processing terms with Company’s major shareholder Gold Fields
– Target and progress the next 2 or 3 highest ranking prospects to the same level as Lady Herial
12 Months:
– Completed mining at Lady Herial
– Be defining and permitting the next profitable gold open pit
– Be defining a significant bedrock opportunity on the properties, potentially in the footwall of the Foster nickel mine, analogous to the ‘Father’s Day Vein Discovery (Sept 2018) at the Beta/Hunt nickel and gold mine, just 15km to the north within the same St Ives belt.
What do you think makes your company such a compelling investment?
Tier 1 location in one of Australia’s great gold (and nickel) belts
Granted mining leases, secure tenure, low regulatory hurdles to permit development
The management team’s deep knowledge and experience in the district from extensive time at Kambalda -St Ives with WMC Resources and Gold Fields
What are the top 3 key investor takeaways?
Location, location, location
Cash enabling aggressive exploration and news flow
Low risk, low cost exposure to gold (and a significant existing high grade nickel sulphide resource)