Legacy Iron Ore Limited (ASX: LCY) announced its interim financial report for the period of six months ending 30 September 2019. The highlights from the operational activities of LCY are:
- As at 30 September 2019, the Company held $0.59 million in the form of cash and cash equivalent
- The company is at an early stage of progressing towards a world-class magnetite project and exploring for nickel-copper mineralisation through a Joint Venture with hawthorn Resources Limited at Mt Bevan Project.
- Initial scoping/pit optimisation study completed in quarter ending 30 September 2019, reflecting positive results at Mt Celia Project.
- With the capital raising plans in pipeline, the company is expected to cover the funds requirements for upcoming 2-3 years.
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