legacy the next rio???

Will be interesting to watch this stock over the course of the next 3 months.

LCY have indicated very clearly in their announcements, that:

- NMDC are going to do JV's using Legacy
- NMDC will fund projects
- Looking for coal, iron ore and other bulk commodity resources
- Sharon is currently looking at projects
- NMDC have over $1bn in the bank to go on a shopping spree

Seems to all point towards plans to turn Legacy into a mini RIO or a Glencore type business, where the big pool of funds from NMDC is used to go and buy advanced projects and bring them into production.

Remembering that India has over 1 billion people who are becoming increasingly industrialised and all demanding their new fridge and new car, which all requires iron ore and coal products.

NMDC is part of the Ministry of Steel in India, and India does have 2 of the worlds biggest steel companies.

All seems to be working towards some sort of grand plan, which I hope Legacy can tell us about shortly.