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Legacy Iron Ore Seeks Funds for Mt Bevan Development

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Legacy Iron Ore is currently looking for $200 million to fund the mine development at its flagship project called Mt Bevan. The iron ore project is situated nearly 100 km to the west of Leonora in central Yilgarn region.

The massive Mt Bevan iron ore project is being developed as a joint venture between Legacy Iron Ore and Hawthorn Resources. By spending $3.5 million to develop the project to a pre-feasibility level Legacy Iron Ore will earn a 60% stake in the project.

Currently the company is looking to not only fund the Mt Bevan project but also to make possible acquisitions. The company is in negotiations with Minemakers for its Wonarah phosphate project and with Atlas Mining for its Ridley iron ore project.

Legacy Iron Ore is also looking at coking and thermal coal projects as possible investments. The backing of Indian state owned company NMDC has helped Legacy Iron Ore come into a different league. The share holders of the company are sure to feel the increased value of their stocks this year.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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