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IGO LIMITED — Capital/Financing Update 2009
May 21, 2009
65111_rns_2009-05-21_04346c44-9b59-43bc-827e-a800b6d2e5f5.pdf
Capital/Financing Update
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22 May 2009
ASX Announcement
Legend’s cash and receivables grow to $8mil
Cash and receivables of $8 million
Treasury equities 1.9mil IGO and 10mil AXM valued circa $9mil
Legend Mining Ltd (ASX: LEG) is pleased to announce that that its cash and receivables balance has grown to over $8 million, thus fully funding all of its exploration and treasury activity, including its underwriting obligations for the upcoming Apex Minerals NL (ASX:AXM) rights issue. The additional funds have come from a special overnight sale of 1 million of its Independence Group NL (ASX: IGO) shares to a major European Fund.
“Legend is happy with its position in IGO and has no current intention of any further sales of its IGO holding with a view to capitalising on the growth potential from the upcoming feasibility at the Tropicana Joint Venture Project and the development of the Moran deposit at the Long Nickel Mine,“ commented Legend Managing Director, Mark Wilson.
Visit www.legendmining.com.au for further information and announcements.
For more information:
Mr Mark Wilson Managing Director Legend Mining Limited Ph: (08) 9212 0600
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Legend Mining Limited ABN 22 060 966 145 Level 2, 640 Murray Street West Perth Western Australia 6005 P.O. Box 626 West Perth Western Australia 6872
Telephone: +61 8 9212 0600 Facsimile: +61 8 9212 0611 Email: [email protected] Website: www.legendmining.com.au