Insights

The Legend Mining (ASX:LEG) share price is up 10% today. Here’s why

The Legend Mining (ASX: LEG) share price is flying today with news of 2 intercepts of nickel-copper sulphide at Mawson discovery zone.
The post The Legend Mining (ASX:LEG) share price is up 10% today. Here’s why appeared first on The Motley Fool Australia. –

Monadelphous share price rio tintoA happy miner in front of a massive drilling rig, indicating a share price lift for ASX mining companies

The Legend Mining Ltd (ASX: LEG) share price is soaring today following news from its Mawson discovery zone. There, it has come across 2 new intercepts of nickel-copper sulphide.

At the time of writing, the Legend Mining share price is up 10%, trading at 13 cents each.

Let’s take a closer look at today’s news from the miner.

Massive nickel-copper sulphide intercepts

According to Legend Mining’s release, the company has intercepted a wide sulphide zone at its flagship Mawson Ni-Cu-Co prospect in Western Australia.

Results from the 2 drill holes have been described by the company as “massive nickel-copper sulphide intercepts”. The results came from a drilling program made up of 4 holes, conducted at the site over the second half of April.

Of the 2 intercepts, 1 was east-south-east of the Mawson discovery zone. It included:

  • 45 metres of semi-massive and massive sulphide, and
  • 4 metres of net-textured and semi-massive sulphide.

The other was in the northeast of the discovery zone. It included:

  • 15 metres of massive sulphide, and
  • 75 metres of net-textured and semi-massive sulphide.

Commentary from management

Commenting on the discoveries, Legend Mining managing director Mark Wilson said:

The success of this year’s diamond drill program has ramped up with two new intercepts of massive nickel copper sulphide within broad bands of sulphide mineralisation.

The distance between these holes and the discovery zone, along with the developing story from downhole EM surveys, continue to demonstrate a very large system driving Mawson, which is consistent with the potential of a significant deposit.

Legend Mining share price snapshot

The Legend Mining share price has had a good 2021 on the ASX, but its last 12 months overall have been poor.

Currently, the Legend Mining share price is up 18% year to date, although it’s down 35% over the last 12 months.

The company has a market capitalisation of around $330 million, with approximately 2.76 billion shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Legend Mining (ASX:LEG) share price is up 10% today. Here’s why appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!