Lunnon Metals’ (LM8) recent Baker Preliminary Feasibility Study outlines a development scenario for the deposit. LM8’s study considers an initial three-year mine life for production of ~4.1kt of nickel in concentrate sold per annum. The study outcomes mostly align with our expectations although the overall mined Reserve was slightly lower than we had modelled resulting in a net increase in costs per unit of metal production. We have updated our Kambalda Nickel Project (KNP) development scenario to include insights from the Baker PFS. Recent seismic geophysical survey results may have detected a channel prospective for Kambalda type Komatiite nickel sulphide mineralisation, potentially setting LM8 on a path towards new discoveries.
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