Lunnon Metals Limited delivered its strongest monthly operating performance to date at the Lady Herial gold open pit in Western Australia during July 2026, paving the way for the early completion of mining operations in early August.

During July, Lunnon delivered 76,937 tonnes of ore at 1.79 g/t Au containing 4,439 ounces of gold to St Ives Gold Mining Co. Pty Ltd, a wholly owned subsidiary of Gold Fields Limited. This result surpassed June's delivery of over 62,000 tonnes at 1.73 g/t Au.

Under the terms of the Ore Purchase Agreement, Lunnon invoiced Gold Fields $14.8 million for July gold deliveries, against direct operating expenses of $2.5 million. This compared to $12.0 million invoiced against $3.0 million in direct costs for June.

The strong operating pace enabled the company to complete open pit mining ahead of the January 2026 Feasibility Study schedule, with the final parcel of ore delivered to the Mine Ore Pad on 8 August. Total ore tonnes and gold delivered to St Ives have reconciled at 110% and 100% respectively against the feasibility study benchmarks.

Once the July invoice is settled, Lunnon will have realized $35 million in pre-tax free cash flow. Aggregate gold sales to the end of July exceeded $85 million, generating over $50 million in total pre-tax free cash flow on a 100% basis, of which Lunnon claims a 70% share.

Applying an estimated gold price of $5,850/oz to the remaining approximately 1,250 ounces left to be invoiced for August, the company remains on track to achieve a total pre-tax free cash flow of approximately $38 million.

St Ives Gold Mining Co. Pty Ltd holds a 30.15% shareholding in Lunnon Metals and operates the surrounding St Ives gold camp. St Ives is also expected to reimburse Lunnon approximately $2.5 million in September for pre-development capital costs, including grade control drilling.

Lunnon plans to complete a final reconciliation of the open pit performance against the feasibility study once August deliveries are invoiced and paid, and site rehabilitation is finished. Progressive rehabilitation of the eastern waste dump is already complete, with topsoil spreading on the western dump continuing post-mining.

Read the full announcement: Lady Herial Gold Open Pit July Update