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Lunnon Metals Limited ( (AU:LM8) ) has provided an update.
Lunnon Metals Limited announced a strategic shift towards gold exploration in response to declining nickel prices, marking a significant repositioning for the company. The company has made substantial progress with its Lady Herial project, achieving a JORC Mineral Resource estimate and negotiating an Ore Purchase Agreement with St Ives Gold Mining Co. Pty Ltd. This move positions Lunnon Metals to potentially begin gold production by the end of December 2025, leveraging existing infrastructure and high gold prices to generate cash flow.
The most recent analyst rating on (AU:LM8) stock is a Buy with a A$0.80 price target. To see the full list of analyst forecasts on Lunnon Metals Limited stock, see the AU:LM8 Stock Forecast page.
More about Lunnon Metals Limited
Lunnon Metals Limited is a company operating in the mining industry, primarily focusing on nickel and gold exploration. The company has strategically shifted its focus from nickel to gold due to market conditions, aiming to capitalize on the bullish outlook for gold.
Average Trading Volume: 216,653
Technical Sentiment Signal: Buy
For a thorough assessment of LM8 stock, go to TipRanks’ Stock Analysis page.