3 ASX mining shares on the move – quarterly reports

These three ASX mining shares are on the move today following the release of their quarterly results.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) is in the green today, up about 1%.

Let’s take a look at these three ASX mining shares in more detail.

Legend Mining Ltd (ASX: LEG)

The Legend Mining share price is soaring 7% today to 4.7 cents at the time of writing. The company’s share price surged 9% this morning following the release of its quarterly report before retreating slightly

Legend is exploring the Rockford nickel and copper project in Western Australia.

Legend reported cash of $12.8 million as of 31 December. The company completed octagonal 3D seismic survey data collection in the December quarter at the Rockford Project.

One major highlight from the report is news of a $2.93 million tax refund in December. Legend said this means cash at 31 December is $600K greater than the previous quarter.

The company said this places it in a “well-funded position for the commencement of 2023”.

The Legend Mining share price has descended 40% in the last year.

Perseus Mining Ltd (ASX: PRU)

Perseus Mining also released a quarterly report to the market today. The company explores three gold mines in Africa.

Perseus shares are down nearly 2% today. The gold price is up 0.07% to US$1932.67 a tonne, according to trading economics.

Perseus reported it had produced 130,911 ounces of gold in the December quarter. This was down on the company’s record gold production of 137,460 ounces in the September quarter.

Overall in 2022, Perseus delivered 521,221 ounces of gold at an all in sustaining cost (AISC) of US$941 an ounce. This exceeded the company’s production guidance.

The company achieved a weighted average realised gold price of US$1,748 a tonne, up from US$103 on the September quarter.

The Perseus share price has surged nearly 52% in the last year.

De Grey Mining Ltd (ASX: DEG)

De Grey Mining shares have been bouncing around today and are currently climbing 0.32%.

The De Grey mining share price is leaping 0.64% at the time of writing to $1.585. De Grey shares fell 1.26% in earlier trade before picking up.

De Grey is exploring gold at the Mallina Gold Project in the Pilbara region of Western Australia. In today’s quarterly, De Grey reported 160 million in cash and no debt at the end of the December quarter.

Highlights included completing a $130 million placement and $19 million share purchase plan to fund a definitive feasibility study and a final investment decision in 2023.

The De Grey share price has lifted nearly 16% in the last year.

The post 3 ASX mining shares on the move – quarterly reports appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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