- Joint venture partners, Legacy Iron Ore (LCY), Hawthorn Resources (HAW), and Hancock Magnetite execute a non-binding deed for the Mt Bevan iron ore project in WA
- This grants Hancock the exclusive right to undertake a desktop study to assess nickel, lithium and copper on the Mt Bevan project
- The exclusive period will last for three months from the date Hancock receives all exploration data from the joint venture companies
- Legacy and Hawthorn will be able to access the desktop study results for review
- Shares in LCY are up 5 per cent to trade at 2.1 cents and HAW is trading flat at 8.5 cents at 10:54 am AEST
Joint venture partners, Legacy Iron Ore (LCY), Hawthorn Resources (HAW), and Hancock Magnetite have executed a non-binding deed for the Mt Bevan iron ore project in Western Australia.
This grants Hancock the exclusive right to undertake a desktop study to assess nickel, lithium and copper on the Mt Bevan project.
The exclusive period will last for three months from the date Hancock receives all exploration data from the joint venture companies.
Legacy and Hawthorn will be able to access the desktop study results for review.
LCY CEO Rakesh Gupta said he was eager to see the outcome of the study.
“The world is rapidly introducing new forms of energy which require vast quantities of nickel, lithium and copper,” he said.
“This agreement further strengthens the working relationship between the Mt Bevan joint venture partners.”
Hawthorn Managing Director Mark Kerr said he’s delighted to expand the relationship with Hancock.
“There is significant momentum towards energy efficient technologies. Exploration for nickel, lithium and copper is imperative to facilitating these energy options,” Mr Kerr said.
Shares in LCY were up 5 per cent to trade at 2.1 cents and HAW was trading flat at 8.5 cents at 10:54 am AEST.