Welcome to our dedicated page for Lion One Metals news (Ticker: LOMLF), a resource for investors and traders seeking the latest updates and insights on Lion One Metals stock.
Lion One Metals Limited reports operational, technical, governance and financing developments tied to its 100%-owned Tuvatu Gold Mine and Tuvatu Alkaline Gold Project in Fiji. Company updates commonly address production ramp-up work, flotation plant commissioning, underground development, mining-method selection, drilling and sampling controls, equipment availability, site power reliability and water-management systems.
News also covers corporate matters such as leadership changes, special committee activity, shareholder meeting requests, private-placement financing, strategic partnership decisions and senior debt considerations. Environmental and regulatory themes include tailings storage water management, process-water discharge risk and permitting-related operating constraints at Tuvatu.
Lion One Metals (OTCQX: LOMLF) has purchased a new Boart Longyear LM90 underground core drill for its 100%-owned Tuvatu alkaline gold mine in Fiji as part of a strategy to expand production. The LM90 can drill to a maximum depth of 990 m, across a full dip range from +90° to -90°, and handle rod sizes from AQ to NQ. A dedicated drill station off Level 1051, 80 m south of Zone 2, is under development to enable lateral and inclined drilling of Zone 500, the West Zone, and Zone 5 from underground for the first time.
According to Lion One, underground drilling from this new platform is expected to allow shorter, faster and lower-cost drillholes with improved intercept angles into steeply dipping high-grade veins. On delivery, anticipated by mid-October 2026, the company’s fleet will comprise four underground drills and two active surface drills, all owned and operated by Lion One except for one leased EDR450 rig.
Lion One Metals (OTCQX: LOMLF, TSXV: LIO) has entered into a forbearance agreement with senior secured lenders Nebari Gold Fund 1, Nebari Natural Resources Credit Fund I and II, extending the final repayment date for Tranche 1 of its senior loan facility to December 31, 2026.
The Facility, put in place in January 2023, totals approximately US$31.2 million of principal outstanding (about US$25.8 million on Tranche 1 and US$5.4 million on Tranche 2; Tranche 3 is repaid). Lion One reports that earlier financial and non‑financial default events, including a breach of a US$7,000,000 working capital covenant, have been cured and the interest margin has reverted to the original level. Part of the net proceeds from a recent US$17.5 million non‑brokered private placement was used to meet Facility obligations and cure the covenant default.
As consideration for extending Tranche 1, Lion One will pay Nebari a US$2,000,000 restructuring fee, which may be reduced to US$1,000,000 if all Facility obligations are fully repaid on or before September 30, 2026. The company has launched a refinancing strategy, potentially involving new senior debt, additional financings and cash from operations, targeting completion by the end of 2026.
Lion One Metals (OTCQX: LOMLF) has started Phase 1 of its Tuvatu Mill Expansion in Fiji, focused on a Filtered Tailings Expansion Project that is designed to raise nominal plant capacity from 300 TPD to 400 TPD by doubling filtration capacity. The project adds two new filter presses, a filter feed tank, two feed pumps, structural and piping upgrades, and one tailings truck, without requiring additional mining or processing equipment. It carries a capital cost of C$1.9 million and incremental operating costs of C$230,000 per year. Based on an estimated additional 2,100 oz of gold annually and a gold price of US$4,000/oz, the company estimates about C$11.8 million in extra yearly revenue and a payback period of around 3 months. Construction has begun and is targeted for completion by the end of Q1 2027, as part of a broader phased expansion to 700 TPD with an estimated total capital cost of C$13.5 million. The company also appointed Shayla Forster as Corporate Secretary.
Lion One Metals (OTCQX: LOMLF) appointed Ronan Geoghegan as Vice President Corporate Development and Investor Relations, effective July 14, 2026. Geoghegan is a P.Geo. with over 15 years of mining experience and an MBA in finance. Lion One also announced the resignation of longtime Vice President, Corporate Secretary and former director Hamish Greig, recognizing his 16 years of contributions, including key roles in advancing the Tuvatu project and other corporate milestones.
Lion One Metals (OTCQX: LOMLF, TSXV: LIO) closed the second tranche of its non-brokered financings, bringing aggregate gross proceeds to $17.5 million, including $14 million from 14,000 convertible debenture units priced at $1,000 and $3.5 million from 26,923,080 units at $0.13.
Each Debenture Unit includes a 10% subordinated secured convertible debenture, convertible at $0.13 with four-year maturity, plus 7,692.3 four-year warrants at $0.175. Each Unit includes one common share and a three-year warrant at $0.175. Lion One plans to use net proceeds to meet upcoming obligations and cure its working capital covenant default under its senior secured facility with Nebari, and for general corporate purposes.
The company signed a Transition Agreement with Concept Capital, under which Concept Capital withdrew its shareholder meeting requisition and agreed to a standstill, while Lion One agreed to adopt a majority voting policy and other governance measures and reimburse certain legal costs. The board also approved 18,900,000 stock options at $0.16 with a five-year term under its omnibus equity plan. Finder’s fees of $125,351.74 were paid in cash, and all securities are subject to a four-month-plus-one-day hold, with completion subject to final TSXV acceptance.
Lion One (OTCQX: LOMLF) reported preliminary operating results for the quarter ended June 30, 2026, at the Tuvatu gold mine in Fiji.
Key metrics:
- 3,291 oz gold recovered, up 21% QoQ
- 4.3 g/t average head grade
- 84.9% gold recovery vs 71.7% prior quarter
- 27,985 tonnes milled at 90% utilization (~308 tpd)
- 1,652 m underground development, 28% QoQ increase
Record quarterly and June monthly recoveries followed continuous operation of the newly commissioned flotation circuit. Safety performance improved, with a TRIF of 4.37 versus 6.55 in the previous quarter.
Lion One (OTCQX: LOMLF) increased its non-brokered private placement from 23,076,923 to 26,923,076 units, targeting up to $3.5 million in gross proceeds. Each unit includes one share and a warrant exercisable at $0.175 for 36 months.
Combined with a previously closed $12.5 million convertible debenture financing and $2,788,184.75 from the first tranche of the placement, proceeds are intended to meet obligations and cure a working capital covenant default under the senior secured loan facility with Nebari. Closing of the second tranche and upsized placement is expected on July 10, 2026, subject to customary approvals and TSXV conditions.
Lion One (OTCQX: LOMLF) closed the first tranche of a non-brokered private placement, raising $12.5 million from 12,500 convertible debenture units and $2.79 million from 21,447,575 equity units, for total gross proceeds of about $15.3 million.
Proceeds will help meet obligations and cure a working capital covenant default under the Nebari loan facility. A second tranche of $1.5 million in debenture units is expected by July 10, 2026. Lion One also confirmed leadership changes, with Ian Berzins as CEO and Tony Young resuming the CFO role.
Lion One (OTCQX: LOMLF, TSXV: LIO) reappointed Ian Berzins as President, CEO, and Director, effective immediately. The move aims to restore strong operations at the Tuvatu gold mine.
Under Berzins in 2025, capital development rose from 315 m in Q1 to 643 m in Q4, and Q4 gold output reached 4,383 oz at 5.4 g/t. The company plans to refocus on operational optimization and production turnaround after weak production from January to March 2026, targeting a return to and surpassing the record levels achieved in late 2025.
Lion One Metals (OTCQX: LOMLF) appointed Tayfun Eldem as an independent director and Todd Romaine as chairman of the board, effective after the previously announced resignation of Walter Berukoff.
The company highlights their extensive global mining experience and focus on governance, risk management, and long-term value creation.