LCY - Legacy Iron Ore

[Goldexplorer]

In this climate, people are waiting for the earn in on Mount Bevan 60 percent before investing.

That shouldnt be very far away at all.

We may even pick up the final 40 percent very cheap with the joint venture partner struggling.

60% earn in should happen this month before financial year. Good time to hold for shareholders. IMO

[prawn_86]

60% earn in should happen this month before financial year. Good time to hold for shareholders. IMO

GE, what exactly is this earn in you are talking about? There doesnt seem to be any information about it in this thread. Why is it a good time for holders?

Thanks

[Goldexplorer]

GE, what exactly is this earn in you are talking about? There doesnt seem to be any information about it in this thread. Why is it a good time for holders?

Thanks

60% earn in is from the Mount Bevan project that LCY bought from HAW for 3.5 million. Good time for holders as the completion of phase 3 drilling was completed today and offical earn in happen few weeks back now.

[Goldexplorer]

GE, what exactly is this earn in you are talking about? There doesnt seem to be any information about it in this thread. Why is it a good time for holders?

Thanks

Copy of the iron ore drilling update today

http://www.legacyiron.com.au/media/4...g_complete.pdf

[springhill]

MC - $49m
SP - 8.5c
Shares - 581m
Options - 146m
Cash - $13.4m

EXPLORATION UPDATE – EAST KIMBERLEY PROJECTS (BASE METALS AND RARE EARTH ELEMENTS) JULY 2012 FIELDWORK
 Style of mineralisation (VHMS) at Koongie Park Project is similar to that found at Sandfire Resources‟ Doolgunna discovery and at the Teutonic Bore/Jaguar/Bentley deposits of Independence Group
 Reconnaissance work clearly indicates excellent potential to host VHMS mineralisation
 Planning commenced for airborne VTEM surveying

LEGACY IRON FINALISES ACQUISTION OF QUEENSLAND COAL PROJECTS
 Acquisition part of Legacy Iron’s strategy to build its portfolio of steelmaking assets.
 First two coal projects secured, as part of a broader six project sale agreement.
 Legacy Iron continues to evaluate potential coking coal acquisitions.

EXPLORATION
Mt Bevan Iron Ore Project, WA
 Good progress continues to be made at the Mt. Bevan Iron Ore Project, Legacy Iron’s cornerstone project, with Legacy’s 60% earn-in for the project completed, and awaiting formal transfer.
 Major phase 3 drilling completed – objective to convert substantial part of JORC Inferred Resource to Indicated category.
 Infill drilling confirms continuity and thickness of mineralisation.
 Infrastructure options remain under discussion – project lies proximate to existing road, rail and port facilities.
Robertson Range Manganese and Iron Ore, WA
 RC Drilling of geophysical/ geochemical targets planned for Q3.
South Laverton Gold Project, WA
 Drilling to commence shortly at Yilgangi.

PLANNED ACTIVITIES – SEPTEMBER 2012 QUARTER
Mt Bevan:
Finalisation of drilling database post April – June phase 3 drilling.
Modelling and resource estimation by SRK Consulting – provision of Indicated JORC resource likely in October.
Mapping and sampling of Eastern BIF – DSO hematite targets. Drill planning and statutory approval for drilling of priority targets.
Continuing work on processing and infrastructure requirements.
South Laverton:
RC drilling program at Yilgangi gold project.
East Kimberley:
Field work assessing REE and base metal targets.
Robertson Range:
Heritage clearance and track/pad establishment, then RC drill testing of iron and manganese targets.

[springhill]

COMPLETION OF DRILLING AT YILGANGI GOLD PROJECT
 1,020m RC drilling program completed
 Objective to extend gold resource to depth and along strike
 Assay results expected end of August

[LRG]

Not much action here?

Maybe 2013 will be the year for Legacy????

SP has been hammered this year will the indians do nothing that they promised!!

[Goldexplorer]

Very dissapointing so far with all the promises over past 12 months. AGM held tomorrow and the spin doctors were in a meeting all day today preparing for it and not taking phone calls.

Someone should be sacked and held accountable for the lack of aggresive action that has been promised with NMDC comming on board

[LRG]

Very dissapointing so far with all the promises over past 12 months. AGM held tomorrow and the spin doctors were in a meeting all day today preparing for it and not taking phone calls.

Someone should be sacked and held accountable for the lack of aggresive action that has been promised with NMDC comming on board

if you listen to all the tools on hotcopper this will skyrocket next week before xmas!!!!

believe it or not?