What's Happening?
Lefroy Exploration has received final regulatory approvals to commence site works and mining activities at its Lucky Strike Gold Project in Western Australia. The Department of Mines, Petroleum and Exploration approved
the mine development and closure plan and clearing permit, allowing Lefroy to proceed with on-ground activities. BML Ventures, Lefroy's mining partner, will lead site preparation, including setting up infrastructure for waste and ore stockpiles. Mining is expected to ramp up in early 2026, with gold production anticipated by March 2026. CEO Graeme Gribbin emphasized the significance of these approvals in transitioning the company from an explorer to a gold producer.
Why It's Important?
The approval marks a critical milestone for Lefroy Exploration, enabling the company to advance from exploration to production. This transition is expected to unlock significant value for shareholders, as the company capitalizes on the current strong gold market. The project is poised to generate revenue without incurring debt, thanks to a profit-share arrangement with BML Ventures. This development could enhance Lefroy's financial stability and market position, potentially leading to further exploration and production opportunities within its extensive land package in the Kalgoorlie–Kambalda region.
What's Next?
Lefroy Exploration will begin site preparation in November, with mining activities set to increase through early 2026. The first toll milling of ore is scheduled for February 2026. As the company moves towards production, stakeholders will be keenly observing the project's progress and its impact on Lefroy's financial performance. The successful execution of this project could pave the way for the development of additional deposits within Lefroy's portfolio.
