Legacy Iron Ore Partners with Bain Global Resources for Mt. Celia Gold Project

The latest announcement is out from Legacy Iron Ore Ltd ( (AU:LCY) ).

Legacy Iron Ore Ltd has entered into a Right to Mine Agreement with Bain Global Resources for the Mt. Celia gold mining operations. Under this agreement, Bain Global Resources will finance up to $10 million of mining activities, with profits shared between the two companies. Initially, Legacy will receive 75% of the net profits until it recovers $20 million, after which profits will be split equally. This strategic partnership is expected to enhance operational efficiencies and extend the operational life of the Mt. Celia project, leveraging high gold prices to maximize the mine’s potential and shareholder value.

More about Legacy Iron Ore Ltd

Legacy Iron Ore Ltd is a Western Australian-based company focused on the development and discovery of iron ore, base metals, tungsten, and gold. The company aims to increase shareholder wealth through the discovery, development, and operation of profitable mining assets. Legacy Iron was listed on the Australian Securities Exchange in 2008 and has several key projects, including the Mt Bevan Iron Ore Project and the South Laverton Gold Project.

Average Trading Volume: 497,859

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$99.17M

For an in-depth examination of LCY stock, go to TipRanks’ Stock Analysis page.