Nickel-copper met work positive for Legend

LEGEND Mining has got more positive news from its Mawson nickel-copper discovery in Western Australia’s Fraser Range after initial metallurgical testwork demonstrated “premium nickel and copper concentrates can be produced by conventional (processing)”.
Nickel-copper met work positive for Legend Nickel-copper met work positive for Legend Nickel-copper met work positive for Legend Nickel-copper met work positive for Legend Nickel-copper met work positive for Legend

Legend's met work looks good

Recoveries of up to 98% for copper and 97% for nickel was achieved, with a copper concentrate grading 31.8% copper and a nickel concentrate grading 13.1% nickel.

Legend suggested the nickel concentrate would be in high demand to offtakers due to the high Fe:MgO ratio and the non-presence of other deleterious elements.

Meanwhile, the company received a A$2.6 million refund from the ATO for research and development earlier this month and planning is underway for drilling to resume at the project.

Mawson was discovered in December 2019 and lies 120km northeast of IGO's Nova nickel-copper operation.

A maiden resource estimate could be expected this year, albeit Legend hasn't provided a timeframe.

In terms of cash, Legend was already in good position prior to the ATO refund, with $25.2 million in the company's treasury at the start of the current quarter.

Shares in Legend were unchanged at 12c in afternoon trade, capitalising the company at $321 million.