Sign up Australia
Proactive Investors - Run By Investors For Investors

Legacy Iron Ore 22% share spike prompts ASX ‘speeding ticket’

Legacy Iron Ore 22% share spike prompts ASX ‘speeding ticket’

Legacy Iron Ore (ASX: LCY) has received an ASX price and volume query after the company’s shares jumped 22% to an intra-day high of $0.12 on Monday 16 May, up from $0.098 on Friday 13 May.

The company said it is not aware of any material information that has not been announced to the market that may explain the sudden investor interest.

However, Legacy in the company’s reply to the ASX did refer to an announcement on 2 May regarding the anticipated release of further assays from the Mt Bevan Iron Ore Project later in the month.

Legacy is aiming for a JORC Resource at Mt Bevan, and earlier in the month completed a 5,000 metre reverse circulation drilling campaign.

An exploration target has already been established of 500 million tonnes of magnetite mineralisation grading between 30% and 40%.

Mt Bevan is a joint venture between Legacy and Hawthorn Resources (ASX: HAW) whereby Legacy will earn a 60% interest in the project by expending a minimum of $3.5 million to develop the project to a Pre-Feasibility status.

 





Register here to be notified of future LCY Company articles
View full LCY profile View Profile

Legacy Iron Ore Ltd Timeline

Related Articles

copper tubes
September 07 2017
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices
1504607061_Iron-ore-stockpile.jpg
September 05 2017
Black Iron's potential costs have fallen significantly at the Shymanivske iron ore project in Ukraine, and the risk has fallen away too
picture of steel mill
December 01 2017
Bushveld will have 59.1% of Vametco once it completes the buy-out of partner Yellow Dragon.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use