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Lunnon Metals' Lady Herial Gold Project Has Potential for Further Mining, Says Euroz Hartleys

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Lunnon Metals' (ASX:LM8) Lady Herial gold mine in Western Australia has potential for further mining through a possible pit extension, Euroz Hartleys said in note on Tuesday.

The company produced 2,300 ounces of gold and generated about AU$5 million in free cash flow from the project in April, with mining expected to conclude in August to September period, in line with the schedule.

Any future pit extension would fall within the approved mining area which could potentially extend mining operations beyond the current mine plan, the investment firm added.

Euroz Hartleys maintained a speculative buy rating and its price target of AU$0.84.

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