Australia's Lunnon Metals sees best day in almost 5 months on higher resource estimate

Lunnon Metals

07/12/2022 24:23

** Shares of Lunnon Metals Ltd  LM8.AX  climb as much as
17.1% to A$0.96 - set to mark best day since July 18, if gains
hold
    ** Gold and nickel miner says updated mineral resource
estimate for Baker deposit of the Kambalda nickel project
increased to 929,000 tonnes, with 3.3% of the resource
containing nickel
    ** Says Baker indicated resource is nearly three times
larger and has 37% higher grade than reported in June 2022
    ** Stock hits highest level since Sept 14
    ** More than 184,800 shares change hands, double the 30-day
average volume 
    ** Stock up 78.3% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))