Legacy Iron Ore Limited
An NMDC Group Company
ASX Announcement23 January 2012
About Legacy Iron Ore
Legacy Iron Ore Limited ("Legacy" or the "Company") is a
Western Australian based Exploration Company, focused on iron
ore and gold exploration and discovery.
Legacy's mission is to increase shareholder wealth through
capital growth, created via the discovery, development and
operation of profitable mining assets.
The Company was listed on the Australian Securities Exchange
on 8 July 2008. Since then, Legacy has had a number of iron
ore, manganese and gold discoveries which are now undergoing
drilling and resource definition.
Director
Swaminathan Thiagarajan, Non- ExecutiveDirector
Tao Han, Non-Executive Director John Hebenton Chief Executive Officer Capt. S P Singh, Chief Operating Officer Ben Donovan, Company Secretary Key Projects
Mt Bevan Iron Ore Project
Hamersley Iron Ore Project
Robertson Range Iron Ore and Manganese
Project
South Laverton Gold Project
East Kimberley Gold, Base Metals and REE Project
Sharon Heng Managing Director Phone: +61 8 9421 2005
ASX Codes: LCY, LCYOA, LCYOB
LEVEL 5, CITIBANK HOUSE
37 ST GEORGES TERRACE PERTH WA 6000
PO BOX 5768
ST GEORGES TERRACE WA 6831
Phone: +61 8 9421 2005
Fax: +61 8 9421 2001
Email: info@legacyiron.com.au
Web: www.legacyiron.com.au
The Company Announcements Office
ASX Limited
Via E Lodgement Legacy and Hawthorn review Term SheetLegacy Iron Ore Limited ("Legacy") notes the announcement made this morning by Hawthorn Resources Limited ("Hawthorn") regarding the term sheet announced on 21 December 2011, whereby Legacy proposed to invest $5m to acquire up to 60% of the issued capital in Hawthorn in return for the cancellation of the Joint Venture Agreement on the Mount Bevan iron ore project ("Term Sheet").
Legacy wishes to confirm that they are in discussions with Hawthorn on alternative transaction methods with a view to establishing a new term sheet with renegotiated terms.
Legacy advises that it has terminated the current Term Sheet announced on 21 December 2011, and that Legacy will continue under the Joint Venture Agreement whereby Legacy will earn a 60% interest in the Mount Bevan iron ore project via spending $3.5m.
The Joint Venture will continue unaffected.
Legacy will provide an update to the market in due course.
Yours faithfully,
LEGACY IRON ORE LIMITED Sharon Heng
Managing Director
distribué par | Ce noodl a été diffusé par Legacy Iron Ore Limited et initialement mise en ligne sur le site http://www.legacyiron.com.au. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-23 04:40:41 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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