Hey Mate,Market index says just 105Mill SOI & ~17Mill MCI hold a...

First 18 Last

Share
Profile

Follow
gtrade

907 Posts.

38

01/05/24

19:01

Post #: 73615676
Share

Originally posted by K23: ↑

Just incase you haven't had a chance to check out this potential multi-bagger...... here's a little snip of today's Ann. from LGM - Legacy Minerals:

M.C. - Just over 10 Mill
Available shares is around 705Mill
Directors own about 40% of them.
JV x 3 totalling approx 27mill

ASX ANNOUNCEMENT
30 April 2024 March 2024

Quarterly Report

Exciting start to 2024 with emerging PGE-Ni-Cu discovery at Fontenoy and major new exploration programs underway at Bauloora and Black Range; Landmark Joint Venture agreement secured with S2 Resources at Glenlogan, and Mt Carrington acquisition completed

Exploration Highlights

Bauloora Project
• Deep diamond drilling at the Breccia Sinter Prosect has successfully defined a new vein trend, with further drilling required to vector towards a potential high-grade Au-Ag shoot.
• Foundational geochemical and geophysical surveys underway, including Audio Frequency Magnetotelluric (AMT) survey, ground gravity survey, Bulk Leached Extractable Gold (BLEG) stream sediment sampling and detailed geological mapping.
• Survey programs to provide a world-class dataset to prioritise epithermal gold targets for drilling in Q2 2024.
• Newmont has met its Stage 1 minimum commitment and confirmed it will proceed with sole funding the Phase 1 Earn-In of the $15M Bauloora Joint Venture.

Black Range
• Planning for an initial phase of drilling to test coincident gold-silver geochemical and IP anomalies at the Sugarbag Hill Gold-Silver Prospect at Black Range.

Fontenoy Project
• Strategic exploration partner, Earth AI, has made a new magmatic PGE-Ni-Cu discovery at Gramont, with a discovery drill hole of 34m at 0.5g/t 3E PGE, including a higher-grade zone of 10m at 1.2g/t 3E PGE, 0.2% Ni and 891ppm Cu.i,1
• This is the first known discovery of this mineralisation style in the Lachlan Fold Belt, NSW.

Corporate Highlights

• Highly regarded exploration group S2 Resources, led by Dr Mark Bennett, entered into $6M Farmin at the Glenlogan Porphyry Project in central NSW with Legacy Minerals, for S2 to fund exploration to test a highly prospective Cadia ‘look-alike’ porphyry target.ii

• Transformational acquisition of the Mt Carrington Project in northern NSW completed. Together with an adjacent Exploration Licence Application, this forms the new Drake Project, which includes a Resource of 356koz of gold and 23Moz of silver together with an exceptional exploration opportunity in the under-explored New England Fold Belt.

Expand

Hey Mate,
Market index says just 105Mill SOI & ~17Mill MC

I hold a small piece of LGM too...Could be a good thing I reckon
5 Upvote

0 Great analysis

Reply