Highlights

  • Key mining and services contracts have been executed with Hampton Mining & Civil Services and Goldfields Technical Services.
  • Site clearing and establishment activities are underway, with mining of the first benches expected to commence imminently.
  • The stock continues to trade above its down-sloping trendline breakout, supporting the ongoing bullish momentum.

Lunnon Metals Ltd. (ASX: LM8) moved into bullish territory on Tuesday, with shares rising nearly 5% after confirming Board approval of its Final Investment Decision and the signing of key mining contracts with Hampton Mining & Civil Services and Goldfields Technical Services. Site mobilisation and clearing have commenced at Lady Herial, with first gold ore mining scheduled later this month.

Lunnon Metals Contracts Spark Fresh Market Optimism

Contracts with Hampton Mining & Civil Services for mining operations and Goldfields Technical Services for statutory roles, mine planning, geology, surveying and ROM pad management are now in place. Both contractors have mobilised to the Foster area at St Ives, with site establishment and clearing activities underway. Mining of first gold ore at the Lady Herial project is scheduled for later this month.

The commencement of mining coincides with record-high Australian gold prices. Based on the January 2026 Feasibility Study, mining approximately 268,000 tonnes at 1.89g/t Au for 16,270 ounces could generate around AUD 45 million in pre-tax cash flow at current gold prices. All Feasibility Study assumptions remain unchanged, with management highlighting the milestone as a major de-risking achievement for the project.

Is the Bullish Trend Still in Control?

From a technical perspective, LM8 continues to trade above its previously downward-sloping trendline, confirming a decisive breakout supported by rising trading volumes. This former resistance line has now transitioned into an important support zone, reinforcing the improving price structure. As long as the stock holds above this level, the broader bullish trend remains intact, signalling sustained buying interest on pullbacks. This setup keeps the near-term outlook biased to the upside, with scope for further gains should momentum and volume conditions remain supportive.

The stock continues to trade above its 50-period SMA, signalling near-term strength and underlying support. The RSI at 50.72 reflects sustained momentum around neutral levels, suggesting scope for further upside if buying interest improves. On the upside, resistance is located near AUD 0.450 and AUD 0.50, which may act as key supply zones and could temporarily cap further gains should selling pressure emerge.

Bullish Bias Persists for LM8 as Structure Holds

Lunnon Metals Ltd. (ASX: LM8) outlook remains constructive, supported by the signing of key mining contracts and the transition of the Lady Herial project toward first ore production amid strong gold prices. Technically, the stock has confirmed a breakout above its falling trendline, with rising volumes turning this former resistance into key support. Holding above this zone and the 50-period SMA keeps the broader bullish structure intact and tilts the near-term bias toward further upside.