Lunnon Metals, St Ives to negotiate Lady Herial gold ore sale agreement

Australian miner Lunnon Metals has reached an statement with St Ives Gold Mining, a subsidiary of Gold Fields, to modify St Ives' existing pre-emption rights connected aboriginal golden worldly from the Lady Herial deposit successful Western Australia.

This statement paves the mode for exclusive negotiations regarding the merchantability of worldly from Lady Herial for attraction astatine St Ives' Lefroy golden plant.

The Lefroy golden works is located 7km on an existing haulage way to the northbound of the Lady Herial deposit.

The plant's facilities see superior crushing, milling, gravity and leach circuits, and a tailings retention facility. It treats ore from respective mines astatine a complaint of astir 4 cardinal tonnes per annum (mtpa).

Under the presumption of the agreement, Lunnon Metals volition present a mineral assets estimation and metallurgical trial enactment to St Ives, followed by a 90-day play to hold connected merchantability and acquisition terms.

If an statement with St Ives is not reached wrong this clip frame, Lunnon Metals tin negociate with different parties for a further 120 days.

If nary outer statement is reached, discussions with St Ives volition resume for different 90 days.

The precocious Australian dollar golden terms environment, on with granted mining leases and infrastructure successful the region, positions Lunnon Metals successful an advantageous position.

Lunnon Metals managing manager Edmund Ainscough said: “We would similar to convey Gold Fields for agreeing to enactment collaboratively with america arsenic we question to unafraid the aboriginal attraction of our exciting, high-grade Lady Herial golden deposit.

“The Lefroy golden works is without uncertainty the astir businesslike and astir logical destination for immoderate aboriginal worldly and we look guardant to negotiating mutually beneficial presumption with Gold Fields.”

Recent metallurgical trial enactment connected worldly from the 2024 drill programme has shown precocious golden recoveries, averaging 95%, crossed assorted grades.

Lunnon Metals and St Ives program to research the imaginable for adjacent higher recoveries by incorporating a gravity separation measurement successful aboriginal trial work.

In October 2024, Gold Fields selected Fleet Space Technologies’ ExoSphere to amended its exploration efforts astatine the Salares Norte task successful bluish Chile.

"Lunnon Metals, St Ives to negociate Lady Herial golden ore merchantability agreement" was primitively created and published by Mining Technology, a GlobalData owned brand.

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