email to kfc

Dear Mr Nando’s

My name is XXXX XXXX, I have been a patient shareholder of Legacy Iron for nearly 4 years now. I am one the shareholders who attended the Legacy Iron AGM in November last year and was one of a few others that met you after the AGM. At the AGM when questioned by myself and many others about the state of play with regards to NMDC’S lack of promise/action on advancing existing Legacy projects and acquiring new ones, you were quoted as saying that many things were being assessed and looked at by NMDC to add value to Legacy the company.

Specifically you talked about resolution on Mount Bevan and you and your Finance Director were confident that a deal and resolution on Mount Bevan would be completed with Hawthorn by December. You also said that a Line of Credit was available to Legacy to secure additional projects (which included buying out the rest of Bevan) and that you were looking at other Gold and Coal assets and that these issues would be finalised as a matter of urgency. Given it is now Middle of January we are yet to see any news on Mount Bevan, the Line of Credit and any other acquisitions by Legacy.

Interestingly I do note that the Indian Media has recently been publishing articles about NMDC,MOIL and Legacy and that MOIL are interested in Legacy’s Manganese assets. If this is true and I do respect that their must be confidentiality with respect to negotiations then if the article is true why hasn’t NMDC publicly announced this via Legacy rather than through the Indian media that such negotiations are taking place..?

Also I do note that the Indian media has been publishing articles once again about a possible deal with Minemakers, once again if this is the case then why aren’t we announcing this to the market via the normal ASX channels rather than through the Indian media..?

I look forward to receiving a response from you on these issues.

Regards

XXXX