# LGM: Australian Gold Conference Presentation Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lgm-australian-gold-conference-presentation--9b991c5c-12b7-4daf-b306-e5a883a997cf Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152105 Publisher: asx Original announcement: 2026-10-13T22:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-14T00:00:45.494Z Atlas analysis updated: 2026-10-14T00:00:45.494Z - Company: Legacy Minerals - Ticker: LGM - Exchange: ASX - Region: NSW - Primary commodity: Gold - Secondary commodities: Silver, Copper, Zinc, Lead - Document categories: Other, Resource update, Drill results - Extracted: 2026-10-14 00:00:46 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Legacy Minerals presented an overview of its projects at the Australian Gold Conference, highlighting the Mt Carrington Project's updated 1.6Moz AuEq Mineral Resource Estimate and positive Scoping Study outcomes. The study indicates a robust economic case with a pre-tax NPV7 of A$514 million and a 12-year mine life, though it is preliminary and requires significant funding. The company also reported new gold and copper discoveries from recent drilling and outlined future exploration and development catalysts. Reasoning: The presentation consolidates recent positive developments including an updated resource estimate, favorable scoping study results, and new exploration successes, despite the preliminary nature of the economic study and funding requirements. - Positive factor: Updated and larger resource estimate \(1.6Moz AuEq\) - Positive factor: Positive Scoping Study outcomes \(high NPV, IRR, low AISC, long mine life\) - Positive factor: New gold and copper discoveries - Positive factor: Significant approved drilling program - Positive factor: Strong capital position and management - Negative factor: Scoping Study is preliminary and has a low level of confidence \(-30% to +45% accuracy\) - Negative factor: Significant funding required \(A$220.5M\) with no certainty of availability or terms - Negative factor: Production Target includes 29% Inferred Mineral Resources - Negative factor: Some drill results are historical re-releases Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 4 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lgm-australian-gold-conference-presentation--9b991c5c-12b7-4daf-b306-e5a883a997cf#fact-resource-facts-0) Mt Carrington · gold #### Identity - Project: Mt Carrington - Commodity: gold - Region: australia\_nsw - Reported Region: NSW - Ticker: LGM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kate Kitchen - Resource group id: resource:b3c988667b6879406c8b - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 19300000 - Contained Metal: 392000 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2026-07-30 - Prior Tonnes: 34400000 - Prior Contained Metal: 653000 #### Metal Equivalent - Metal Eq. Grade: 1.22 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: The indicated gold resource shows significant growth in contained metal and tonnage compared to the prior total estimate, contributing positively to project confidence. - Positive factor: Category Upgrade - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Negative factor: Grade not reported for individual metal Evidence · table > 19.3 Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 19300000 against 34400000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 392000 against 653000 previously **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lgm-australian-gold-conference-presentation--9b991c5c-12b7-4daf-b306-e5a883a997cf#fact-resource-facts-1) Mt Carrington · silver #### Identity - Project: Mt Carrington - Commodity: silver - Region: australia\_nsw - Reported Region: NSW - Ticker: LGM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kate Kitchen - Resource group id: resource:b3c988667b6879406c8b - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 19300000 - Contained Metal: 15100000 - Contained Unit: oz - Cutoff Grade: 25 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-30 - Prior Tonnes: 34400000 - Prior Contained Metal: 24300000 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: The indicated silver resource shows significant growth in contained metal and tonnage compared to the prior total estimate, contributing positively to project confidence. - Positive factor: Category Upgrade - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Negative factor: Grade not reported for individual metal Evidence · table > 15.1 Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 19300000 against 34400000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 15100000 against 24300000 previously **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lgm-australian-gold-conference-presentation--9b991c5c-12b7-4daf-b306-e5a883a997cf#fact-resource-facts-2) Mt Carrington · zinc #### Identity - Project: Mt Carrington - Commodity: zinc - Region: australia\_nsw - Reported Region: NSW - Ticker: LGM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kate Kitchen - Resource group id: resource:b3c988667b6879406c8b - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 19300000 - Contained Metal: 88000 - Contained Unit: kt - Cutoff Grade: 0.25 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2026-07-30 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: The indicated zinc contained metal is a positive byproduct, contributing to the overall resource value. - Positive factor: Category Upgrade - Positive factor: Tonnage Growth - Negative factor: Grade not reported for individual metal Evidence · table > 88kt Zn Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lgm-australian-gold-conference-presentation--9b991c5c-12b7-4daf-b306-e5a883a997cf#fact-resource-facts-3) Mt Carrington · copper #### Identity - Project: Mt Carrington - Commodity: copper - Region: australia\_nsw - Reported Region: NSW - Ticker: LGM #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kate Kitchen - Resource group id: resource:b3c988667b6879406c8b - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 19300000 - Contained Metal: 12000 - Contained Unit: kt - Cutoff Grade: 0.25 - Cutoff Unit: g/t AuEq #### Prior Estimate - Resource Date: 2026-07-30 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: The indicated copper contained metal is a positive byproduct, contributing to the overall resource value. - Positive factor: Category Upgrade - Positive factor: Tonnage Growth - Negative factor: Grade not reported for individual metal Evidence · table > 12kt Cu Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.