Lefroy Mines 253,400 BCM Waste, Targets January 2026 Ore Haulage

Strong Early Progress at Lucky Strike

Lefroy Exploration Limited (ASX – LEX) has reported encouraging early mining results from its Lucky Strike Gold Mine, located near Kalgoorlie in Western Australia. Over the first three weeks of December, the company successfully moved 253,400 Bank Cubic Meters (BCM) of pre-strip waste material from the Stage 1 pit, setting the stage for ore extraction to begin imminently.

The company anticipates intersecting its first ore panels by the end of December 2025, with ore haulage operations scheduled to start in January 2026. This timeline aligns with Lefroy’s plan to commence its inaugural toll milling campaign in February, a critical milestone that will transition the company from development to production.

Funding and Infrastructure in Place

Backing this operational momentum is a solid financial foundation. Lefroy has secured funding through profit-sharing and cash advance agreements with BML Ventures, its mining contractor partner. The recent receipt of a $0.75 million cash advance installment ensures the company is fully funded into 2026, supporting both ongoing mining activities and an anticipated ramp-up in exploration efforts early next year.

Onsite infrastructure has also advanced significantly, with the completion of office and administration facilities, as well as the commissioning of a second waste dump to facilitate efficient material movement. These developments underscore Lefroy’s readiness to scale operations and manage the logistics of ore processing effectively.

Strategic Positioning Amid Robust Gold Prices

CEO Graeme Gribbin expressed optimism about the company’s trajectory, highlighting the alignment of operational progress with a favourable gold price environment. Lefroy’s strategy to leverage profit-share mining agreements on its high-grade, shallow deposits aims to deliver a low-cost production pathway. The Lucky Strike deposit, with a mineral resource estimate of approximately 79,600 ounces at nearly 2 grams per tonne, represents a key asset in this approach.

Beyond Lucky Strike, Lefroy holds significant gold resources at Mt Martin and Burns, which offer further potential for development and exploration. The company’s expansive portfolio positions it well to capitalize on exploration successes and expand its resource base in the coming years.

Looking Ahead

As Lefroy moves toward its first ore haulage and milling campaign, the market will be watching closely for confirmation of production ramp-up and early cash flow generation. The company’s ability to maintain momentum and execute its exploration plans will be critical to sustaining growth and delivering shareholder value.