Lunnon Metals (LM8) Resources Rising Stars Gold Coast Conference summary

Asset location and significance

• Asset is located south of Kambalda, Western Australia, within the prolific St Ives gold camp and Kambalda nickel district, surrounded by major gold and nickel deposits.

• Area is historically underexplored for gold due to its nickel-focused legacy, with 23 sq km held within a 230 sq km belt that has produced 18 million ounces of gold.

• Immediate neighbors include several multi-million-ounce gold mines and historic nickel mines.

Corporate and financial overview

• Market cap is AUD 76 million with an enterprise value of AUD 35 million, no debt, and a strong cash position of approximately AUD 41.4 million as of August 2026.

• Major shareholder is Gold Fields; founders retain a 19% stake, and board/management hold 5.5%.

• Generated AUD 39 million in cash from rapid gold project development, maintaining a tax shield of AUD 65 million.

• Balance sheet strength enables aggressive exploration and operational flexibility.

Exploration and development strategy

• Pivoted from nickel to gold after market shifts, leveraging gold rights and under-explored leases.

• Completed first gold mine from discovery to production in just over two years, generating $39m pre-tax free cash flow.

• FY2027 exploration budget is AUD 13 million, targeting over 43 km of drilling—the largest annual program in the project's history.

• Current exploration target is 1.2–2.4 million ounces at typical St Ives grades, with a pipeline of targets including Hustler and Lady Herial.

• Early drilling has identified new gold-bearing structures, confirming underexplored potential.