- Legend Mining (LEG) has received a $3 million cash boost from its directors and senior management.
- The company issued nearly 75 million options at 4 cents each and 2 million options at 7.2 cents per share
- As a result of the options, Managing Director Mark Wilson (Wilson Group) has become the third-largest shareholder in the company
- While, Chairman Michael Atkins and General Manager Exploration Derek Waterfield enter the top 20 shareholders
- On the market this morning, Legend is in the grey and trading at 13 cents per share
Legend Mining (LEG) has received a $3 million cash boost from its directors and senior management.
The company issued nearly 75 million options at 4 cents each and 2 million options at 7.2 cents per share.
As a result of the options, Managing Director Mark Wilson has become a substantial shareholder and has moved up to be Legend’s third-largest investor.
Additionally, Chairman Michael Atkins and General Manager Exploration Derek Waterfield are now in the top 20 shareholders list.
Legend Mining is an Australian based explorer with assets in Australia and West Africa.
Last month, Legend completed initial metallurgical testing on samples from the Mawson’s prospect, within the Rockford Project in WA.
Diamond drilling samples were tested and showed that massive sulphides from the site are amenable to convention floatation. Recovery rates of up to 98 per cent for copper and 97 per cent for nickel was achieved.
On the market this morning, Legend is in the grey and trading at 13 cents per share at 11:55 am AEDT.