Legacy Iron Ore Limited has completed phase I mining at its Mount Celia gold operation and made significant progress on the Mount Bevan magnetite project, underpinning its growth strategy in Western Australia’s mineral sector.
- Phase I mining completed at Mount Celia Gold Operation
- Three ore sales executed to Paddington Mill totaling 111,875 tonnes
- Mount Bevan Mining Lease M29/448 granted with native title cleared
- Hydrogeological drilling and metallurgical tests progressing on schedule
- Exploration and evaluation expenditure of $2.94 million primarily on Mount Bevan feasibility
Legacy Iron’s Strategic Milestones
Legacy Iron Ore Limited has reported a solid quarter ending December 2025, marking the completion of phase I mining at its Mount Celia Gold Operation (MCGO) and advancing feasibility studies at the Mount Bevan Iron Ore Project. These developments reflect the company’s ongoing commitment to expanding its footprint in Western Australia’s rich mineral belts.
At Mount Celia, Legacy Iron executed three ore sales to Norton Goldfields’ Paddington Mill, delivering over 111,000 tonnes of ore with an average grade of 1.03 grams per tonne, yielding 3,461 ounces of recovered gold. This operational activity underscores the project’s productive capacity as the company transitions from initial mining phases to longer-term development.
Resource Re-Evaluation and Heap Leach Progress
The company has completed an in-house re-evaluation of the Mount Celia mineral resources, with the review and sign-off process underway. This reassessment is critical for refining mine planning and extending the project’s life beyond the initial phase. Concurrently, studies for a heap leach plant; including metallurgical test work and pad design; are progressing on schedule, signaling potential enhancements in gold recovery methods.
Mount Bevan Project Advances
On the iron ore front, the Mount Bevan Project achieved a key regulatory milestone with the granting of Mining Lease M29/448 and completion of the associated native title process. The company has secured access agreements for hydrogeological drilling in the northern borefield and is advancing miscellaneous licenses for infrastructure and transport corridors. Metallurgical test work using site water has yielded positive results, reinforcing the project’s viability.
Legacy Iron’s joint venture partner, Hancock Magnetite Holdings, has completed a pre-feasibility study, and the project is now progressing through Stage 1 feasibility work aimed at de-risking and optimising operations. Rail capacity modelling and hydrogeological drilling programs are on track, reflecting a methodical approach to project development.
Financial and Operational Outlook
The company reported exploration and evaluation expenditure of approximately $2.94 million for the quarter, predominantly related to the Mount Bevan feasibility study. Cash flow statements reveal a net operating cash inflow and a healthy cash balance of $8.38 million at quarter end, providing a solid financial foundation for ongoing activities.
Legacy Iron continues to engage with native title groups and advance exploration at other South Laverton prospects, including Yilgangi and Yerilla, with UAV magnetic surveys and planned drilling campaigns set for the coming quarter. Meanwhile, multi-element and fire assay analyses are underway for samples from the East Kimberley project, indicating a broad and diversified exploration portfolio.
Bottom Line?
With phase I mining behind it and feasibility studies advancing, Legacy Iron is poised for a pivotal growth phase, though upcoming approvals and test results will be key to watch.
Questions in the middle?
- When will the heap leach plant receive final work approval and commence operations?
- How will the updated Mount Celia resource estimates impact mine life and production forecasts?
- What are the next steps and timelines for advancing Mount Bevan from feasibility to development?