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LEGEND MINING LIMITED — Capital/Financing Update 2012
May 16, 2012
65223_rns_2012-05-16_abef2419-8cff-45f0-9574-8a6c129a6e94.pdf
Capital/Financing Update
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OROYA Mining Limited
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ABN 16 009 146 794
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Suite 3, 72 Canning Highway, Victoria Park, WA, 6100, Australia Telephone: (08) 93613887 Facsimile: (08) 93612658 Web: www.oroya.com.au
17 May 2012
ASX Market Announcements Australian Securities Exchange
MILESTONE PAYMENT RECEIVED FROM LEGEND MINING
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LEG issue 10M shares to ORO in full satisfaction of milestone payment
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Payment strengthens ORO balance sheet and supports current drilling programs
Oroya Mining Limited (ORO) is pleased to announce it has been issued 10,000,000 ordinary shares in Legend Mining Limited (ASX: LEG) in full settlement of a deferred contingent consideration (Milestone) payment arising from the September 2005 sale agreement between the parties for the sale of the Mt Gibson project assets.
The Milestone payment follows Legend Mining’s sale of the Mt Gibson project as announced to the market by LEG on 14 March 2012.
Legend Mining Limited (www.legendmining.com.au) is an Australian mining and exploration company listed on the Australian Securities Exchange. Oroya is encouraged by Legend’s current exploration and planned mining programs at its Ngovayang iron ore and precious metal project in Cameroon, West Africa.
The 10M settlement shares valued at $170,000, based on LEG’s last traded price of $0.017, strengthens ORO’s balance sheet and assists to underpin the Company’s current exploration programs at its Roe Hills Nickel Sulphide project and Orbost Copper project.
ENDS
For Further information please contact
Joshua Wellisch Mark Koehne Alternate Director Investor and Media Relations Oroya Mining Limited Corporate Vision 08 93613887 0409259887 [email protected] [email protected]
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