Lion One Achieves C$6.3M of Mine Operating Income, Announces Assay Lab Accreditation

Core Viewpoint - Lion One Metals Limited reported record mine operating income and significant operational improvements at its Tuvatu Gold Mine in Fiji, driven by increased gold production and cost-cutting measures [1][2][6]. Financial Results Summary - The company achieved a record mine operating income of C$6,302,540 for Q4 CY2024, representing a 312$3,794 per ounce, a 14% increase from C$3,332 [5]. - Cost of sales per ounce of gold decreased by 13$2,465 [5]. - Total gold revenue reached C$17,993,020, a 72$10,470,518 in the previous quarter [5][6]. Operational Results Summary - The company has consistently improved gold grades and recoveries since the Tuvatu processing plant was commissioned in early 2024 [2]. - A total of 31,044 tonnes of high-grade mineralized material was mined, with 56% of this material coming from outside the current Mineral Resource Estimate (MRE) [3][6]. - The average head grade was reported at 5.5 g/t gold, with an overall gold recovery rate of 82.5% [6]. Expansion and Infrastructure - The company is currently operating at a 300 TPD pilot plant level, with plans to expand to a 600-700 TPD operation anticipated in 2026 [7]. - Critical mine infrastructure projects, including a raise bore and mine ventilation project, are expected to be completed by March 2025 [7]. - The company has procured C$2 million in additional mining equipment to accelerate operations [8]. Laboratory Accreditation - Lion One's internal assay laboratory has achieved ISO 17025 accreditation, enhancing its operational efficiency and reliability [9][10]. - The lab can process over 10,000 samples monthly and provides rapid assay results, significantly reducing costs and wait times [9][10]. - As the only accredited mining lab in Fiji, it can also assay samples from other operations, creating a potential secondary revenue stream [11].