Lunnon Metals Limited (ASX:LM8)
Lunnon Metals Limited (ASX:LM8) is a mineral resource company focused on nickel and gold exploration at the Kambalda Nickel Project, utilising the knowledge and data gained through its work on the Project dating back to 2014.
Historically, the Company has been engaged in a joint venture (JV) with St Ives at the historical Foster and Jan Nickel mines situated in Kambalda, in the Eastern Goldfields region of Western Australia (the Kambalda Nickel Project. The Company has spent in excess of $6.0 million on direct exploration expenditure under the terms of the Joint Venture since its formation.
In November 2020, the Company entered into an agreement with St Ives to acquire its remaining interest in the Kambalda Nickel Project in consideration for becoming a cornerstone investor in Lunnon Metals.
The Company holds a 100% interest in the Kambalda Nickel Project, including the historical Foster and Jan nickel mines, (minus some specified exclusions) and Gold Fields Ltd, through its ownership of St Ives, will be a 31.65% shareholder in the Company.