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The latest update is out from Legacy Minerals Holdings Ltd. ( (AU:LGM) ).
Legacy Minerals has responded to an ASX price and volume query after its shares climbed from A$0.145 to A$0.195 amid a spike in trading, stating it is not aware of any undisclosed information that would explain the move. The company confirmed it has incomplete assay results from recent drilling and surface sampling at the Mascotte Prospect, with delays driven by a fuel-related transport backlog and standard 5–8 week laboratory turnaround times.
Management said it has received assays for drill hole MSDD002 but is awaiting results for holes MSDD003 to MSDD006, and will only release data once all results are verified to avoid partial or potentially misleading disclosure. Legacy emphasised that unverified exploration data is being kept confidential under its trading and information-control policies, and that MSDD002 has not delivered material results relative to current geological understanding, aiming to reassure investors and the regulator about fair market conduct.
The most recent analyst rating on (AU:LGM) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Legacy Minerals Holdings Ltd. stock, see the AU:LGM Stock Forecast page.
More about Legacy Minerals Holdings Ltd.
Legacy Minerals Holdings Ltd. is an Australian mineral exploration company listed on the ASX under the ticker LGM. The company focuses on gold and other mineral exploration, using drilling, soil sampling and rock chip sampling to evaluate prospects such as its Mascotte Prospect in New South Wales.
Average Trading Volume: 624,854
Technical Sentiment Signal: Sell
Current Market Cap: A$29.02M
See more data about LGM stock on TipRanks’ Stock Analysis page.