Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Legend Mining Signs Transformational Agreements with Independence Group NL and Creasy Group

Mining News - Published on Fri, 12 Jul 2019

Image Source: Business News
Legend Mining Limited announced the signing of these transformational agreements to raise USD 9.8 million at a 20% premium to the average share price for 2019, and to enter into three new JV relating to its Rockford Project in the Fraser Range district of Western Australia. Details of the agreements are discussed in the body of this announcement. Legend Managing Director Mr Mark Wilson said, “Securing this funding is an important outcome for Legend shareholders. It has been possible due to the new joint venture with Creasy over 709km2 of ground which has known nickel-copper sulphide mineralisation at the Octagonal prospect within the new JV. The added dimension to the transaction is the additional joint ventures with IGO over the northern Rockford area which will give new technical impetus to our exploration efforts. Legend welcomes IGO to our register as our second largest shareholder."

Mark Creasy said, “These transactions demonstrate a common goal between the three parties to unlock further value in the fertile Fraser Range. I see Legend as a key player in this quest."

Mr Peter Bradford, CEO and MD of IGO said that “IGO is pleased to be investing in Legend Mining and its Rockford North tenements. Legend’s mineral exploration holdings in the Fraser Range are extensive and are highly prospective for magmatic Ni-Cu-Co sulphide deposits, with numerous prospects already identified. IGO will work closely with Legend's exploration team to drive discovery success at Rockford."

Source :

Posted By : Sanju Moirangthem on Fri, 12 Jul 2019
Related News from Mining segment