Legacy Minerals Outlines Funding and Risks in Mt Carrington Scoping Study

Legacy Minerals Holdings Ltd. ( (AU:LGM) ) just unveiled an update.

Legacy Minerals has released a scoping study for its Mt Carrington Gold & Silver Project, describing it as a potential high-margin, long-life, low-cost development asset. The study is an early-stage technical and economic assessment intended to test whether a viable business case exists before moving to more definitive feasibility work.

The company bases its production target primarily on Indicated Mineral Resources, with Inferred resources contributing additional upside but not deemed critical to project viability. It emphasises that geological confidence is lower for Inferred resources and that there is no certainty further work will convert them to higher-confidence categories.

Legacy Minerals highlights that the scoping study carries a wide accuracy range and requires substantial further work on key project-modifying factors such as mining parameters, metallurgical recoveries, costs, and environmental and social impacts. The company cautions investors that the current results should not be the sole basis for investment decisions.

The project is expected to require funding of about A$220.5 million, likely through a mix of debt and equity, to cover capital, EPC contract costs, working capital, and contingencies. Legacy Minerals notes its track record in securing funding but warns there is no certainty it can raise the required amount on favourable terms, and that alternative strategies such as asset sales or joint ventures could dilute its ownership of Mt Carrington.

Competent Person statements from qualified geoscientists and mining professionals support the exploration results and mineral resource estimates cited, confirming that prior assumptions and technical parameters remain valid. The company stresses compliance with the JORC 2012 Code and ASX Listing Rules, signalling a focus on regulatory and reporting standards as it advances the project.

More about Legacy Minerals Holdings Ltd.

Legacy Minerals Holdings Ltd. is an Australian mineral exploration and development company focused on advancing gold and silver projects. Its portfolio includes the Mt Carrington Gold & Silver Project in New South Wales, where it is assessing the potential for a high-margin, long-life, low-cost mining operation aimed at becoming a significant producer in the precious metals sector.

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Current Market Cap: A$30.02M

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