Legend Mining (ASX:LEG) has provided an update on the receivable due from Jindal Steel and Power (Mauritius) Limited.
Legend noted that it has received the interest payment of $30,000, with the next interest payment not due until 15th June 2017.
This interest payment is further support to the statement by Legend last month: "Your directors believe that it is likely that Legend will complete an agreement on new payment terms with Jindal in the first half of 2017."
Legend said that it is broadly aware of the reasons for a short term delay in renegotiating a repayment schedule for the $3 million receivable.
Rockford Project in the Fraser Range
Legend remains focused on its Rockford Project in the Fraser Range district of Western Australia, which is situated on a similar tenor gravity ridge to the Nova-Bollinger deposit.
News flow coming up includes a combination of regional moving loop electromagnetic surveys and broad spaced aircore drilling.