announcement out , page-8

yes it clears many things up and breaks dreams of some of us by saying below...Hope they dont argue abt financing now...

"Mt Bevan may need at least $1.3 billion capex investment. Equity part of NMDC and Legacy will be 30
per cent. As soon we complete the acquisition part we will take that up. As it is they are doing some
exploration there. Once we pump in the money, the work will be stepped up."
Whilst debt financing will be used to reduce the dilutionary effects on shareholders for financing 70% of
any capex requirements, it is envisaged the 30% equity component of such project finance could include
a rights issue for all shareholders to participate in, including NMDC. In addition, loan facilities can be
arranged by the newly enlarged Legacy/NMDC entity.


another imp thing...

"With this goal in mind, Legacy is working with Hawthorn Resources Limited on the best path to realise
the valuation of the Mount Bevan project, as captured in the recent SRK valuation, as announced 22
September 2011."

I wud only say haw is screaming buy at 1.3 cents...