comparing mt bevan to other magnetite plays, page-18

The big guys have a history of allowing the juniors to spend all the time and effort drilling out deposits, and then once they know they are sizeable and potentially viable, they just get out the cheque book and take them over.

Makes sense.

Lets say 3 out of 10 projects drill and find a resource that could be economic. That is 7 companies that have spent money and found nothing.

If BHP did this, they would spend more money and time that what they would to just make a take over of the key deposits once known.

It is all about certainty.

Plus they are making money hand over fist in the Pilbara. I read somewhere that Rio makes close to $50m a day out of the Pilbara iron ore.

I think they can afford to be choosy.

But Legacy is ticking a lot of boxes.

I wont complain if LCY is taken over sometime.

NMDC are an Indian version of Rio and have the pockets to make Legacy a monster which is used to acquire any project in Australia that they want.