Lefroy Exploration Ltd (ASX:LEX) has crossed a defining threshold in its decade-long journey, producing its first gold from the Lucky Strike Gold Mine near Kalgoorlie and shipping three gold doré bars to the Perth Mint Refinery — marking the transformation of the company from explorer to producer.
The three bars weighed a combined 27.2 kilograms, yielding an estimated 584 ounces of gold, with a fourth bar pictured weighing 6,164 grams for approximately 178oz on its own. The shipment is the first tangible return from a mineral resource that hosts 79,600 ounces at 1.95 g/t Au across 1.27 million tonnes — and represents just the opening chapter of what Lefroy believes is a much larger value story.
Gold Dore Bar GFLE 003G (Total weight of 6,164g for an estimated 178oz Au).
Toll milling campaign in full swing
The toll milling campaign at FMR Greenfields' plant in Coolgardie is well advanced, with ore stockpiles queued for processing at both the Lucky Strike ROM pad and the mill site itself. Haulage of remaining surface stocks to Coolgardie is imminent, and the current campaign is on track to wrap by the end of February.
Lefroy CEO Graeme Gribbin called the moment a culmination of ten years of work spanning early-stage exploration, resource definition, and the more recent partnership with BML Ventures that unlocked funding and brought the project into production.
"I am pleased that the company is now on the brink of delivering significant value to current shareholders," Gribbin said, "not just from Lucky Strike, but through realising value from our one-million-ounce gold resource base across the broader Lefroy Project."
Lefroy Staff (Left to Right) Chris Hesford (Exploration Manager), Graeme Gribbin (CEO) and Kristel Sarak (Office Administration Manager) attending a gold pour at the FMR Greenfields Mill in Coolgardie.
Next milling campaigns on the horizon
With first production secured, Lefroy and profit-share partner BML Ventures are already moving to lock in the next series of toll milling campaigns. Final negotiations are in their closing stages, with an announcement expected imminently on timing and tonnage allocations.
The company's stated target for Stage 1 of Lucky Strike remains 250,000 tonnes of toll milling ore — a figure first flagged in June 2025 and now being actively pursued through discussions with multiple milling partners.