announcement out

LOL

You guys are so busy discussing HAW, you forgot to look !!

Binding Share Subscription Agreement with NMDC executed
?? Placement for $18.89m cash injection
?? Drilling at Mount Bevan on track to double resource and earn 60%
Joint Venture interest by 1st Quarter 2012
?? AGM to be held in November 2011 to vote on Placement
?? NMDC indicates intention to spend $500m on overseas acquisitions
?? NMDC indicates their commitment to underwrite estimated $1.3
billion Mt Bevan development capex
?? Advanced discussions on Australian iron ore and other projects
subject to Legacy shareholders approving the Placement
?? Board examining ways to spin off coal, iron ore and gold assets to
realize better valuation
Legacy Iron Ore Limited (“Legacy”) is pleased to announce that it has
signed a binding Share Subscription Agreement (“Agreement”) with
National Mineral Development Corporation Ltd (“NMDC”), whereby NMDC
confirms its intention to subscribe for 50% of the issued equity of Legacy for
a placement of A$18.89m (“Placement”), subject to shareholder, regulatory
and FIRB approval.
A summary of the key terms of the Agreement is provided in Appendix A