Additional Information
Market: ASX
Sector: General Mining - Iron Ore and Bauxite
EPIC: LCY
Latest Price: A$0.10  (-4.76% Descending)
52-week High: A$0.22
52-week Low: A$0.09
Market Cap: A$58.13M
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Legacy Iron Ore
www.legacyiron.com.au

Legacy Iron Ore (ASX: LCY) is a Perth-based Australian exploration company, established to search for iron ore and gold deposits.  The flagship project is Mt Bevan Iron Ore project located approximately 100 kilometres west of Leonora in the central Yilgarn region.  Mt Bevan is a joint venture between Legacy and Hawthorn Resources whereby Legacy will earn a 60% interest in the project by expending a minimum of $3.5 million to develop the project to a pre-feasibility status.

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Legacy Iron Ore grants extension to NMDC for tabling offer

26th Aug 2011, 1:29 am

Legacy Iron Ore (ASX: LCY) has granted National Mineral Development Corporation (NMDC) Limited an extension of time to finalise the necessary internal approvals to enable NMDC to make a formal offer for Legacy.

The board of NMDC has met and is currently progressing through the final internal processes necessary to approve an investment in Legacy. This is understood to be in line with the requirements of a government controlled entity.

Legacy said it is anticipates that the approved formal binding offer will now be tabled to the Legacy board by mid September.

Legacy has also engaged an independent mining consultancy group to provide an independent valuation on its projects.

The final valuation will be used in reviewing any formal binding offer the company receives.

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