Lunnon Metals Ltd

About

Lunnon Metals Ltd listed on the ASX in June 2021, raising A$15 million to commence an aggressive exploration campaign at its Kambalda Nickel Project, in the heart of the famous Kambalda nickel district. The Company has grown rapidly on the back of multiple successes, including the discovery and then delineation of the Baker nickel shoot, declaring a first-time mineral resource within 9 months of its discovery and then doubling it again to ~31,000 tonnes of contained nickel in the next 6 months.

In 2022, the Company reached agreement with its major shareholder Gold Fields Ltd, to acquire the mineral rights to the last two historical WMC nickel mines never previously transacted at Kambalda, the Silver Lake and Fisher mines (past production 161kt of nickel metal). This deal doubled the Company's footprint in the world-famous Kambalda belt and positions it to be a key player in the development and mining of this important forward-facing metal essential to the clean energy transition.

Late in 2023, its Kambalda Nickel Project was nominated in Argonaut's Best Undeveloped Project's yearbook for the 2nd year in succession, gaining a "Special Mentions" classification (on the reserve bench if you like).

With a strong cash balance, four historical nickel mines that lay dormant inside Gold Fields for 20 years, one new discovery and over 50sq.km of exploration tenure in Australia's most prolific nickel belt, Lunnon Metals is well placed to be the "go to" ASX nickel stock in 2024.

Keywords

project evaluation, mining, exploration, nickel, gold

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