Lunnon Metals reports best Lady Herial gold performance to date

• July 2026 was best month at Lady Herial since mining commenced
• Close to 4,439 ounces delivered in month to Gold Fields
• Gold Fields invoiced for $14.8 million for gold mined in July
• Lady Herial gold open pit completed in early August

Lunnon Metals (ASX:LM8) has reported that production continues to ramp-up at its Lady Herial open pit gold mine in WA.

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The mining performance in July exceeded planned ore volumes, delivering the strongest monthly result to date. Consequently, open pit mining operations have now been completed, ahead of the feasibility study (FS) schedule, with the last parcel of gold ore delivered to the mine ore pad on 8 August.

The company reported the ore purchase agreement (OPA) with Gold Fields subsidiary, St Ives Gold Mining (SIGM), has operated as designed and served to assist the company and SIGM to safely and efficiently expedite operations allowing an early finish to activities.

Total volume mined for July was 76,397 bank cubic metres and total ore mined was 76,937 tonnes at 1.79 grams per tonne (g/t) gold containing 4,439 ounces gold.

For the month of July 2026, Lunnon Metals invoiced SIGM approximately $14.8 million for delivery of 4,039 ounces of gold (applying the 91% metallurgical recovery agreed in the OPA).

Outgoing expenses directly related to the Lady Herial operation for the same period totalled approximately $2.5 million.

The A$ gold price applicable to July’s ore deliveries was $5,850.83/oz. The gold price realised to date averages $6,258/oz, compared to the $6,250/oz level that was modelled in the January 2026 FS.

To the end of July, nearly 284,000 tonnes at 1.64 g/t gold for 15,000 ounces had been delivered to SIGM, yielding 13,652 ounces of gold at the 91% metallurgical recovery agreed in the OPA.

 Total ore tonnes and total gold delivered to SIGM have reconciled 110% and 100% respectively, when compared to the January 2026 FS.

Due to the strong July performance, mining of the last approximate 1,400 ounces gold was completed in early August and operations are now complete, ahead of schedule, with only minor rehabilitation and demobilisation work remaining.

From aggregate gold sales totalling over $85 million to the end of July, total Lady Herial free cash flow to date is over $50 million, with Lunnon Metals realising $35.3 million as its 70% share of this free cash flow under the terms of the OPA, once the July invoice is paid.

LM8 was steady at 30.5¢ with a Mkt cap of $68.11M prior to markets opening.

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