Legacy Iron Ore (LCY) Q1 2027 earnings summary

Executive summary

• Advanced exploration and development across gold and iron ore projects in Western Australia, focusing on Mount Celia Gold and Mount Bevan Magnetite projects.

• Progressed heap leach metallurgical test work and pre-feasibility studies at Mount Celia; continued hydrology and logistics studies at Mount Bevan.

• Maintained a diversified portfolio with ongoing resource definition and strategic joint ventures.

Financial highlights

• Received $3.14 million in customer receipts for the quarter.

• Incurred $3.62 million in exploration, evaluation, and development payments.

• Net cash outflow from operating activities was $0.75 million; investing activities outflow was $1.40 million.

• Ended the quarter with $6.38 million in cash and cash equivalents.

Outlook and guidance

• Plans to continue pre-feasibility and heap leach plant studies at Mount Celia, including regulatory submissions and reserve sign-off.

• Mount Bevan to progress with hydrology completion, groundwater modelling, and further logistics studies.

• Estimated funding available for three quarters at current expenditure rates.