Lunnon Metals Takes a Major Step into Gold Production at Lady Herial

After more than 30 years, mining returns to the historic Foster Belt as Lunnon Metals moves from explorer to producer, at a time when gold prices are at record highs.

Lunnon Metals has officially begun mining preparations at its Lady Herial gold project in Western Australia, marking a significant milestone for the company and the region’s mining history. The project is the first new mine to open on the Foster Belt in over three decades and the first open-pit operation at St Ives since 2014.

The company has signed key mining and technical services contracts with Hampton Mining & Civil Services and Goldfields Technical Services. With site works now underway, the first gold ore is expected to be mined later this month.

Lady Herial is shaping up to be a meaningful short-term producer. A recent feasibility study estimates that the open pit will deliver around 268,000 tons of ore, with an average gold grade of 1.89 grams per ton. That translates to roughly 16,270 ounces of gold and an estimated pre-tax cash flow of about A$45 million at current Australian gold prices, which are at historic highs.

An Ore Purchasing Agreement with St Ives Gold Mining Co. provides a clear processing pathway, reducing risk and allowing Lunnon Metals to move quickly into production.

For Lunnon Metals, the start of mining at Lady Herial represents more than a single project. It signals the company’s transition from exploration to production and reinforces renewed interest in Australia’s mature but still highly prospective gold belts.