Legacy Iron Ore Ltd (AU:LCY) has released an update.
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Legacy Iron Ore Ltd has reported having $4 million in cash and anticipates increased revenue following initial high-cost mining activities. The company is exploring capital raising options to support ongoing operations. However, auditors have raised concerns regarding the recoverable amount of the Mt Celia project, due to discrepancies between forecasted and actual performance, with management providing explanations and planning to access higher-grade ore.
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