Legacy Iron Ore (ASX:LCY) has completed Phase 1 mining at its Mt Celia Gold Project, following the cessation of activities under its right to mine agreement with Bain Global Resources.
While all mining operations have concluded, ore haulage from existing stockpiles to Paddington Gold will continue until depletion, with Legacy receiving fixed monthly payments of $0.3 million during the haulage period.
The move aligns with the company's strategic transition toward owner-led development of on-site processing infrastructure. Environmental monitoring and regulatory compliance will continue uninterrupted to support a smooth transition into Phase 2.
Legacy is advancing studies for a heap leach processing facility, including metallurgical testing, geotechnical and hydrogeological assessments, and environmental evaluations, with completion expected by March 2026.
Parallel discussions with engineers, suppliers, and lenders aim to secure project financing and finalise detailed designs.
Low-grade stockpiles are expected to provide feed for initial heap leach operations, supporting early cash flow.
In addition, scoping studies are underway for a potential carbon-in-leach processing plant to assess long-term growth scenarios, capital and operating costs, and project viability.
Ongoing exploration of the Mt Celia tenements will continue to expand the resource base and support both near-term and future development plans.
At the time of reporting, Legacy Iron Ore's share price was $0.0070.