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Having begun the fundraising process last week amidst the COVID-constrained times currently being lived, Bernadette Sukkar from joint lead manager Saint Gabriel - CLSA is the other manager - indicated the managers were confident of attaining the maximum raise of A$7 million, with ensuring the required spread is attained also a priority.
Led by engineer Chris Byrne (managing director) and geologist Thomas Wall (executive director), Legacy's exploration ground in NSW is a mix of immediate drill prospects and more greenfield targets.
The drill-ready Bauloora gold-silver target features "bonanza silver grades" and "high-grade gold and base metals" amidst historic mine workings and "one of the largest epithermal alteration footprints in NSW".
Bauloora and the fact an engineer formerly of Anglo American leads the company also gives a sense of what Legacy is about in terms of corporate strategy.
As per its name, Legacy is not a wildcat, new frontier exploration play, though it does have ground in its portfolio representing company transforming, high-risk targets.
But relatively lower risk exploration opportunities in areas with proved prospectivity that, as such, potentially represent future development opportunities, are at the fore.
The board and management make-up at Legacy further highlights this, with two board members key in the exploration space (Wall and Doug Menzies), and four at the company having development and operational bona fides.
As well as Legacy's Bauloora ground, there's the high-grade Harden tenure featuring "long forgotten, high-grade gold mines" that could potentially yield modern production opportunities.
On the "company makers" front, there are the Fontenoy (gold-copper) and Rockley (copper-gold) projects.
Sitting in the middle so to speak is Legacy's Cobar ground, where the junior's work to date (and Hall's previous experience at the neighboring Peak Gold Mines), points to both the prospectivity and the deep drilling required.
