Legacy Iron Ore Limited and Linden Gold Alliance have signed a Strategic Infrastructure Sharing Agreement at the Second Fortune Gold Mine in Laverton, Western Australia.
The Agreement will begin on 23 November 2023, and will last for an initial 20 months to accommodate mine workers from the Company’s Mount Celia Gold Mine, which is located 10 kilometres south of Second Fortune Gold Mine. Furthermore, the Agreement will grant Legacy Iron access to the airstrip for its fly-in fly-out workforce and medical facilities for urgent and non-urgent procedures.
As part of the agreement, Legacy Iron will pay $2.5 million to Second Fortune Gold Project Ltd (SFGP), a Linden subsidiary, on 23 October as an upfront payment, with Linden covering all operational costs related to the camp and airstrip.
“This collaborative partnership with Linden to share existing infrastructure represents a significant cost saving to our business and accelerates the transition of the Mount Celia Gold Mine to production. Legacy Iron looks forward to working with Linden and exploring other synergies to become a low-cost-per-ounce gold producer,” Legacy Chief Executive Officer Rakesh Gupta said.
