Lunnon Metals’ (LM8) continues exploration and studies at its flagship Kambalda Nickel Project (KNP) in Western Australia. Recent exploration initiatives within the Long South Gap Area have identified the essential ingredients for komatiite hosted nickel mineralisation. An upcoming 3D seismic survey could help unlock a new generation of deposits. Ongoing drilling and re-assaying programs are expected to further grow the KNP’s Resource base. The new 25H Mineral Resource Estimate (MRE) adds 13.8kt of nickel to LM8’s inventory. Despite management’s solid record of achievements to date, LM8’s share price continues to falter, led by negative sector sentiment. Our applied long-term price for nickel is US$17,500/t.
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