Legacy Iron Ore (LCY) H2 2025 earnings summary

Executive summary

• Achieved significant operational progress with steady gold mining at Mount Celia and expanded resource base through over 45,000 metres of drilling, resulting in upgraded Mineral Resource Estimates and first-time reporting of measured category resources.

• Raised A$22.53 million via a pro rata entitlement offer, strengthening the cash position and reflecting strong shareholder support.

• Advanced Mount Bevan Iron Ore Project with completion of Pre-Feasibility Study (PFS), resulting in a revised JV structure: Hancock 63.43%, Legacy 36.57%.

• Entered a Right to Mine agreement with Bain Global Resources to accelerate Mount Celia development and optimize financial/operational efficiency.

Financial highlights

• Revenue for FY25 was $43.34 million, up from $2.08 million in FY24, driven by increased ore sales.

• Net loss for the year was $27.95 million, compared to a $9.59 million loss in FY24.

• Cash and cash equivalents at year-end were $1.49 million, with $9 million in term deposits.

• No dividends declared or paid.

Outlook and guidance

• Plans to continue gold mining at Mount Celia under the Right to Mine agreement and ongoing exploration across all projects.

• Focus remains on advancing Mount Bevan and expanding the resource base at Mount Celia and satellite prospects.