Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Legacy Iron Ore Ltd ( (AU:LCY) ) has issued an update.
Legacy Iron Ore has completed ore haulage from the Mt Celia Gold Project to Paddington Gold Pty Ltd, formally ending operations under a Right to Mine agreement and closing out Phase I of the project. The company says the experience gained during this phase has strengthened its ability to move toward owner-operated processing solutions at Mt Celia.
The miner is now advancing studies for an on-site heap leach facility at Mt Celia, with metallurgical test work, engineering design, geotechnical and environmental assessments and site planning largely in place. Legacy Iron is also in talks with potential lenders over project debt financing, supported by a substantial inventory of low-grade stockpiles expected to underpin the initial years of planned heap leach production.
The most recent analyst rating on (AU:LCY) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Legacy Iron Ore Ltd stock, see the AU:LCY Stock Forecast page.
More about Legacy Iron Ore Ltd
Legacy Iron Ore Ltd is a Western Australia-based resources company focused on the discovery, development and operation of iron ore, base metals, tungsten and gold projects. Listed on the ASX since 2008 under the code LCY, it has built a portfolio that includes the Mt Bevan Iron Ore Project, the South Laverton Gold Project and the East Kimberley Gold, base metals and rare earths project.
Technical Sentiment Signal: Sell
Current Market Cap: A$79.34M
For a thorough assessment of LCY stock, go to TipRanks’ Stock Analysis page.