Lunnon Metals Limited · ASX:LM8
Lunnon Metals — Investor Presentation (June 2025)
22 slides from Lunnon Metals's investor presentation, Jun 17, 2025
Slide 1: Investor Presentation Lady Herial Scoping Study
ASX ANNOUNCEMENT 17 JUNE 2025 INVESTOR PRESENTATION LADY HERIAL SCOPING STUDY In accordance with Lunnon Metals Limited’s (ASX: LM8) Shareholder Communications Policy, enclosed is a copy of the Lady Herial Scoping Study Investor Presentation which will be used by Managing Director Edmund Ainscough du
Slide 2: Lady Herial Scoping Study
SCOPING STUDY LADY HERIAL ASX: LM8 16 JUNE 2025 1
Slide 3: Lady Herial Scoping Study Key Points
LADY HERIAL SCOPING STUDY KEY POINTS • Scoping Study* completed to +/-30% level of accuracy • Open pit optimisation and mine design complete • Underpinned by 89% Measured Resource and 10% Indicated Resource category material • Confirms opportunity for a high-grade gold open pit • Commercial negotiat
Slide 4: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER This Presentation has been prepared by employees of Lunnon Metals Ltd (“Lunnon”, “LM8” or “the Company”) on its behalf and is a summary only, and contains summary information about Lunnon and its activities, which is current as at the date of this Presentation (unless o
Slide 5: Important Statements About Scoping Study Level of Assessment
IMPORTANT STATEMENTS ABOUT SCOPING STUDY LEVEL OF ASSESSMENT Mineral Resource Estimate (MRE) The MRE which underpins the Scoping Study has been publicly reported and prepared by Lunnon Metals staff who qualify as Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting
Slide 6: Cautionary Statement – Summary of Factors Considered
CAUTIONARY STATEMENT – SUMMARY OF FACTORS CONSIDERED (In Accordance with Clause 38 of JORC) Margin for Error: The Study documented in this announcement has a +/-30% Scoping Study level of accuracy. All dollars are Australian dollars unless otherwise indicated. Assumptions: The Study is based on the
Slide 7: Lady Herial Mineral Resource: Previous Reporting and Competent Person Consent
LADY HERIAL MINERAL RESOURCE: PREVIOUS REPORTING AND COMPETENT PERSON CONSENT A full report on the MRE was published on 7 May 2025 on the ASX platform. The breakdown by mineralised structure, of the MRE as at 7 May 2025 at a 0.5 g/t Au cut-off grade is as shown in the following table. Note: tonnes h
Slide 8: Scoping Study Parameters and Results
Parameter Unit Result Physicals Ranging between 210kt @ 2.0g/t Au and 355kt at 1.8g/t Au; Whittle optimisations Yielding between 12.9koz and 19.7koz recovered gold at strip ratios ranging between 3.6:1 and 9.7:1 Kilotonnes 300-320 Grade g/t Au ~1.8 Mine Design Ounces Au mined ~18,000 Ounces recovere
Slide 9: Mineral Resource and Scoping Study Headlines, Impact, Next Steps
MINERAL RESOURCE 0.57 million tonnes @ 1.6 g/t Au for 29,000 ounces1 HEADLINES IMPACT NEXT STEPS Detailed understanding; High confidence in geology Complete technical studies – confirm >9km drilling interpretation, 8m x 6m spacing financial benefits and physicals Thick & high-grade Low strip ratio F
Slide 10: Timeline: Discovery to Positive Scoping Study
TIMELINE DISCOVERY TO POSITIVE SCOPING STUDY <14 MONTHS C2024 C2025 H1 22 April 2024 – >4.7km RC/DD drilling, >85 holes ~4km of grade control, >125 holes first results* Geological control defined First time Mineral Resource • 0.60m @ 10.84g/t Au (FOS24DD_010 from 10.0m) High-grade trends understood
Slide 11: High-Grade, Low Strip Ratio – 100% Basis (Pre-Tax)
HIGH-GRADE, LOW STRIP RATIO – 100% BASIS (PRE-TAX) Mine Production Unit Total Month 0 Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Waste Mined (t) 1,863,294 - 406,132 404,161 392,373 381,669 234,557 44,401 - - Product Mined (t) 302,462 - 33,868 35,839 47,627 56,441 84,308 44,380 -
Slide 12: 9km Drilling + Close Spacing = High Confidence
9KM DRILLING + CLOSE SPACING = HIGH CONFIDENCE See slide 6 for a list of relevant ASX announcements in which all drilling depicted were reported and the relevant Competent Persons acknowledgement 11
Slide 13: 9km Drilling = High Confidence
9KM DRILLING = HIGH CONFIDENCE Scoping Study Results: • 89% based on Measured Resource • 10% based on Indicated Resource • Negligible (1%) relies on Inferred Driven by previous commitment of time and dollars to drill > 9km Note: see LM8 ASX announcement dated 16 June 2025 and Cautionary Statements o
Slide 14: High Confidence, High Conversion – Whittle to Mine Design
HIGH CONFIDENCE, HIGH CONVERSION – WHITTLE TO MINE DESIGN Gold Price Shell Tonnes Grade Ounces Tonnes Strip Ratio Scenario # (kt) (g/t Au) gold (kt total rock) (Waste: Ore) $1,750/oz 2 210 2.0 13,750 974 3.6 $5,000/oz 15 310 1.8 18,350 2,100 5.8 $8,500/oz 29 355 1.8 21,000 3,800 9.7 Tonnes Grade Gol
Slide 15: Robust Free Cash Flow Generation = Low Sensitivity
ROBUST FREE CASH FLOW GENERATION (PRE-TAX) = LOW SENSITIVITY -20% -10% 0% +10% +20% Study Financial Outcomes Operating Free Cash Flow 4,500 42.5 39.9 37.3 34.6 32.0 A$M 4,750 46.2 43.6 41.0 38.3 35.7 5,000 50.0 47.3 44.7 42.1 39.4 4,500 4,750 5,000 5,250 5,500 5,250 53.7 51.0 48.4 45.8 43.2 50% 18.6
Slide 16: Foster-Baker: Between Two Great St Ives Gold Mines
FOSTER-BAKER: BETWEEN TWO GREAT ST IVES GOLD MINES 1 2
Slide 17: Lunnon Metals Overview
LUNNON METALS OVERVIEW Corporate structure (ASX: LM8) 16 June 2025 Liam Twigger Edmund Ainscough Non-Executive Chair Managing Director 220.6m $0.205 ~$45m Board Shares on issue Share price Market cap Ashley McDonald Deborah Lord Non-Executive Director Non-Executive Director 12.8m $17.8m nil Options/
Slide 18: St Ives for Gold : Kambalda for Nickel
ST IVES FOR GOLD : KAMBALDA FOR NICKEL 17
Slide 19: Appendices
This slide is 100% editable. Adapt it to your needs and capture your audience’s attention. This slide is 100% editable. Appendices Adapt it to your needs and capture your audience’s attention. 18
Slide 20: Competent Persons Statements
COMPETENT PERSONS STATEMENTS Any information in the Study and this presentation that relates to gold and nickel geology, or informed gold and nickel Mineral Resources, Exploration Targets, Exploration Results and the Company’s Historical Core Program, which includes the accessing, re-processing, re-
Slide 21: Gold Mineral Resources Reporting
GOLD MINERAL RESOURCES REPORTING This presentation contains references to Lunnon Metals’ Ore Reserves and Mineral Resources, which are shown in a detailed breakdown in the following slides. Gold Mineral Resources^ at 7 May 2025 * total s may not add up exactl y due to roundi ng The Company confirms
Slide 22: Nickel Mineral Resources and Ore Reserves Reporting
NICKEL MINERAL RESOURCES AND ORE RESERVES REPORTING This presentation contains references to Lunnon Metals’ nickel Ore Reserves and Mineral Resources, which are shown in a detailed breakdown below. Mineral Resources * at 30 June 2024 ^ The Company confirms that all material assumptions and technical