legacy secures footprint in queensland coal, page-24

I see it as great positive news.

The way I see it we are paying not much at all to get involved in the action on 6 tenements in proven coal producing regions.

I like the following points;

1. Opening foray into coal and an initial part of a continuing acquisition strategy

2. Legacy’s new drilling program will target the rapid development of JORC resources

3.Future Legacy acquisitions will focus on advanced and larger scale projects and operations

4.Commenting on the development, Mr NK Nanda, Chairman, Legacy and CMD-In-charge, NMDC Limited said “the
proposed acquisition of these prospective coal tenements in Queensland is in accordance with the re-aligned
strategy of Legacy to broaden its product portfolio post NMDC’s acquisition of a 50% shareholding in Legacy.
Whilst these tenements will provide the initial entry into Queensland coal, Legacy is continuing current
negotiations for additional investment in potential coking coal assets in Australia”.


While it not be that they have taken over an exisiting producing mine, to me it is very positive news.

It signals to me that LCY/NMDC are in no way going to be sitting back just collecting monthly pay cheques.

They mean business & I expect LCY to be a very strong & active mining company in 2-4 years time.

I am happy to sit back & enjoy the ride.

Cheers
Digby :-)))