Legacy Iron Ore Ltd (AU:LCY) has released an update.
Legacy Iron Ore Ltd and its partners have completed a promising pre-feasibility study for the Mt Bevan high-grade magnetite project, estimating a net present value midpoint of AUD 1.674 billion and potential for significant premium due to expected 70% Fe grade of product. With a substantial capital investment forecast at AUD 5 billion, the partners are now focusing on advancing the project through a Forward Works Plan to refine and optimize its development. The project’s advancement is seen as a major step in tapping into the world-class resource, boasting a large mineral resource estimate of 1,291 Mt.
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