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Legacy Iron Ore appoints Azure Capital to advise on potential coal and iron ore acquisitions

Last updated: 23:15 08 Mar 2012 GMT, First published: 00:15 09 Mar 2012 GMT

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Legacy Iron Ore (ASX: LCY) has appointed Azure Capital as corporate adviser to assist with the evaluation and acquisition of key coal and iron ore projects.

Azure, which has one of the largest corporate finance teams in Western Australia, has extensive experience in coal and iron ore, with numerous recently announced or completed transactions in the bulk commodities sector.

The appointment of Azure is part of Legacy’s strategy to invest in producing or near producing assets through acquisitions or joint venture partnerships.

In January, Legacy revealed it was in advanced discussions to secure a massive $200 million line of credit to fund mine development at the Mt Bevan iron ore project as well as acquisitions.

The company is currently undertaking due diligence to finalise negotiations on Minemakers' (ASX: MAK) Wonarah phosphate project and Atlas Mining's (ASX: AGO) Ridley iron ore project.

All new Australian projects proposed to be acquired will be developed through Legacy. These may be made through a joint venture agreement, partial or full acquisition.

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