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 Timeline

Related Articles

Nickel
May 19 2017
Strategic Minerals has a diversity of assets, including the Cobre magnetite operation in New Mexico and the Redmoor tin and tungsten project in Cornwall
1-19327052345_bc81a69e58_o.jpg
November 18 2016
Anglesey is the owner of the Parys Mountain underground zinc-copper-lead-silver-gold deposit in Wales, where it is updating earlier scoping and economic studies.
picture of steel mine
April 07 2017
Company has just agreed to spend the best part of £12mln on the Vametco vanadium mine next door to the company’s own deposit at Brits

© 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