Legacy Mineral completed a $3 million capital raising, comprising an oversubscribed $1.4 million placement and a fully underwritten non-renounceable entitlement offer targeting $1.6 million.

The placement involves the issuance of shares at an issue price of 13.5 cents, accompanied by free attaching quoted options.

The entitlement offer, open to eligible shareholders, mirrors the terms of the placement. Funds raised will finance exploration activities at the Black Range, Cowra, and Drake projects.

The company is drilling at Bauloora and Fontenoy, with assay results expected in 2024, and preparations are underway for a maiden drill campaign at the Black Range Project in the first quarter of 2024.