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Legacy Minerals Holdings Ltd. ( (AU:LGM) ) has issued an announcement.
Legacy Minerals has amended its Mt Carrington Scoping Study after determining that earlier forward-looking production targets and financial forecasts lacked a reasonable basis under ASX Listing Rules. The company now cautions investors not to rely on the original May 4, 2026 announcement or the related RIU Sydney presentation, both of which have been effectively retracted for investment decision-making.
The revised Scoping Study recalibrates the Life of Mine production target so that about 71% of the new target is supported by Indicated Mineral Resources and 29% by Inferred Resources, with associated updates across key financial metrics and technical sections. While no new production target is presented beyond year 12, the company states this does not materially affect core financial indicators and has clarified metallurgical assumptions, project timelines, funding strategy, and cautionary statements to align the study more closely with regulatory expectations and investor guidance.
More about Legacy Minerals Holdings Ltd.
Legacy Minerals Holdings Ltd. is an Australian exploration company focused on mineral resource projects, including the Mt Carrington project. The company targets development of gold and base metal assets under the ASX Listing Rules framework, positioning itself within the junior mining and exploration sector.
Average Trading Volume: 457,272
Technical Sentiment Signal: Sell
Current Market Cap: A$29.02M
Learn more about LGM stock on TipRanks’ Stock Analysis page.