Legacy Iron Ore (LCY) Q4 2026 TU earnings summary

Executive summary

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

• Four ore sales completed at Mount Celia, with 119,491 tonnes sold at 1.09 g/t for 4,188 ounces of gold.

• Updated Mount Celia Mineral Resource estimate completed, increasing total resource ounces by 53% and Measured/Indicated by 77%.

• Progressed heap leach facility approvals and metallurgical test work for gold recovery.

• Mount Bevan Magnetite Project advanced through feasibility studies and hydrogeological drilling.

Financial highlights

• Incurred approximately $1.44 million in exploration and evaluation expenditure during the quarter.

• $0.55 million paid to Hancock Magnetite Holdings for Mount Bevan JV feasibility studies; remaining costs covered tenement expenses and heap leach studies.

Outlook and guidance

• Strategic mine planning and scheduling underway for Ore Reserve estimation at Mount Celia.

• Continued test work and studies for heap leach and gold recovery plant planned.

• Awaiting regulatory approval for heap leach facility.

• Mount Bevan Project to complete hydro program and review environmental and heritage surveys next quarter.