News: LCY Legacy Iron Ore Ltd Receives Binding Applications For #3.15 Mln Via Placement, page-18

I did hold, and I am far from a blow in when it comes to Legacy, but I do get your point considering my current sentiment...

Mt Bevan is undoubtedly one of the best magnetite reserves in the World; but it is currently uneconomical/too risky to develop. That is the bottom line. Legacy, regardless of who it is backed by, requires several 3rd party supports to get this thing off (or out, as the case may be) the ground.

It is a good long term play, but no one could put a timeframe on when it will be developed, and the longer it takes, IMO, the more competitors enter the magnetite market and the less attractive Bevan becomes.

Good luck to the long termers - unfortunately I couldn't afford to keep my capital with them given what I deem to be the development timeline uncertainty.

Cheers