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Legacy Iron Ore Ltd Announces Non-Renounceable Pro Rata Rights Issue


Wednesday, 17 Jul 2013 06:30pm EDT 

Legacy Iron Ore Ltd provided Eligible Shareholders the opportunity to participate in a non-renounceable pro rata Rights Issue. The Rights Issue provides Eligible Shareholders with an opportunity to further participate in the growth of Legacy Iron by acquiring New Shares. The Company continues to focus on growing the resource at Mt Bevan. Legacy Iron and its joint venture partner Hawthorn Resources are engaged in discussions regarding the development of the Mt Bevan Project. In addition, the Company has a planned exploration programme for the Queensland coal projects acquired in 2012, as well as ongoing drilling at the Robertson Range and Hamersley Range projects. The Rights Issue will provide Eligible Shareholders with the opportunity to subscribe for three New Shares for every four Shares held on the Record Date at the Rights Issue price of $0.057 per New Share. The Rights Issue will raise up to approximately $24,850,938 (before costs and expenses), and comes at a time when the Company is looking to increase exploration activity on its Mt Bevan project, manganese and coal properties. 

Company Quote

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24 Sep 2014