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Lunnon secures exclusivity deal with Gold Fields for Lady Herial gold processing - Grafa

Monday, 24 March 2025

Lunnon Metals (ASX:LM8) has entered into an exclusivity agreement with St Ives Gold Mining, a subsidiary of Gold Fields, to negotiate the potential treatment of gold-bearing material from the Lady Herial deposit at the Kambalda Gold and Nickel Project.

Under the agreement,  Lunnon Metals  will complete and deliver a mineral resource estimate and metallurgical test work for Gold Fields' consideration.

A 90-day negotiation period will follow to establish commercial terms for the sale and treatment of Lady Herial material at St Ives' Lefroy gold plant.

If no agreement is reached within this timeframe,  Lunnon Metals  will be free to negotiate with other parties for an additional 120 days.

Should external negotiations remain inconclusive, discussions with  Gold Fields  will resume for another 90 days.

Lunnon Metals' Managing Director, Edmund Ainscough, stated, "The Lefroy gold plant is without doubt the most efficient and most logical destination for any future material and we look forward to negotiating mutually beneficial terms with Gold Fields."

The Lefroy gold plant, located 7km from Lady Herial, has an annual processing capacity of approximately 4 million tonnes and supports operations at Gold Fields' St Ives mines.


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