Legacy Minerals Unveils Promising Scoping Study for Drake Project

Legacy Minerals Holdings Ltd. ( (AU:LGM) ) has shared an update.

Legacy Minerals Holdings Ltd. has released the results of their Stage 1 Scoping Study for the Drake Epithermal Gold-Silver Project, highlighting significant economic potential and resource growth opportunities. The study indicates robust financial metrics, including a net present value of A$303 million and an internal rate of return of 120% at a base gold price of A$4,250/oz. The project is expected to produce an average of 32,200oz of gold annually over a 5.5-year mine life, with a payback period of 14 months. The study also points to further potential with additional resources not yet included, and ongoing exploration efforts could enhance the project’s value. However, the study is preliminary, and further evaluations are necessary to confirm the project’s viability.

More about Legacy Minerals Holdings Ltd.

Legacy Minerals Holdings Ltd. is a company in the mining industry, focusing on the exploration and development of mineral resources. Their primary products include gold and silver, with a market focus on expanding resource growth and exploration opportunities.

YTD Price Performance: 78.57%

Average Trading Volume: 272,756

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$31.23M

Find detailed analytics on LGM stock on TipRanks’ Stock Analysis page.