humble beginnings!!!, page-4

Perhaps the market has already taken into consideration the almost certain fact that HAW will only own 40% of the resource (but still 50% of the decision making)

Also the market has priced in an INFERRED resource ... if the phase 3 results return favourable JORC compliant INDICATED results.


To think this will not change the price is just silly. Perhaps there will not be as significant a change as my fellow HAW holders and I would like .... but there will still definitely be a change ...

An extract from your LCY announcement in February :
"Although classed as an Inferred Resource, drilling to date has shown the mineralised body to have
exceptional continuity both along the 10km of strike and down dip. This can be seen in the cross sections
showing all drilling presented in the earlier announcement to the ASX on 19 January 2012. As a result,
Legacy has high confidence in increasing and efficiently converting the JORC resource status with further
drilling.
As a first step towards converting a substantial part of the Inferred Resource to Indicated JORC compliant
status, Legacy is planning a 7000m, phase 3 drilling program, which is due to commence later this month. "