LEGEND MINING LIMITED
Gum Creek Gravity Survey Defines Iron Ore Targets
LEG - Quarterly Update - Mr Mark Wilson, MD
Thu, 7 Aug 2008 11:00AM
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Mr Mark Wilson
Thu, 7 Aug 2008
11:00AM Australia/NSW
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LEGEND MINING LIMITED (LEG)
ASX code: LEG
Website: http://www.legendmining.com.au
Industry: Materials
Principal Activities:
Mineral exploration
Address:
640 Murray Street, Level 2
WEST PERTH
WA
Phone: (08) 9212 0600
Fax: (08) 9212 0611
Executives & Directors
Mr Michael Atkins , Non Exec. Chairman
Mr Mark Wilson , Managing Director
Mr Dermot Ryan , Non Exec. Director
Mr Tony Walsh , Company Secretary
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Company ASX Announcements
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Announcements from the preceding six months are shown below.
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LEGEND MINING LIMITED (LEG) Events
Australia/NSW
LEGEND MINING LIMITED (LEG)
| Legend acquires shares in Independence Group | Tue, 16 Dec 2008 |
| Encouraging iron results from rockchips in Pilbara | Thu, 20 Nov 2008 |
| Mt Gibson JV concludes | Mon, 17 Nov 2008 |
| Audio Broadcast | Mon, 27 Oct 2008 |
| September 2008 Quarterly Activities Report | Fri, 24 Oct 2008 |
| September 2008 Quarterly Cashflow Report | Fri, 24 Oct 2008 |
| Half Year Accounts | Thu, 11 Sep 2008 |
| Appendix 3B | Wed, 3 Sep 2008 |
| ECM: Impairment of Assets | Fri, 29 Aug 2008 |
| ATO Ruling on November 2007 Distribution of Apex Shares | Wed, 13 Aug 2008 |
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INTERVIEW WITH MARK WILSON, MANAGING DIRECTOR OF LEGEND MINING LIMITED (LEG)
“GUM CREEK GRAVITY SURVEY DEFINES IRON ORE TARGETS.”
http://www.brr.com.au/event/49225
THURSDAY, AUGUST 7, 2008, 11:00 AM.
BRR Good morning. Welcome to Boardroom Radio. Today, we are speaking with Mr. Mark Wilson, Managing Director of Legend Mining Limited. Thanks for
10 joining us today, Mark.
LEG My pleasure, Eddie.
BRR Mark, we see recently you have released an announcement in regards to a gravity survey you guys are currently doing at Gum Creek? Could you want to
15 just give our listeners some details of this survey?
LEG Certainly, Eddie. As reported in the actual announcement it is saying the significance of this is that it adds an iron ore potential or dimension to our Gum Creek project. A couple of years ago, we were aware of a fairly large meg anomaly, some 22 kilometres long and sent an experienced iron ore
20 geologist into the field to have a look and take various rockchip samples which we have reported in the entirety in our announcement. At that time, we were not really confident that we had the sort of size, tonnes, grade, whatever; to make an iron ore statement around that but in recent times with the increase in iron ore prices, the Oakajee Port opening up, proposed rail
25 links coming into the Midwest and just a general greater market awareness of the Midwest potential for iron ore, we reviewed that position which led to the commissioning of the gravity survey, which is the subject of this report. We have detailed six target areas on the advice of our geophysical consultants who believe merits of the work. There will be a field team heading out there
30 tomorrow, actually Thursday; to report back and the outcome of that will be a drilling program which will be commenced shortly thereafter.
BRR Mark, a couple of days prior to that, you have released your quarterly report. Could you want to give our listeners some of the highlights for Legend Mining
35 through the quarter?
LEG Eddie, yes. It is especially relevant in this time with a lot of nervousness in markets. Our constant theme is for our shareholders and anyone else who cares to listen, that Legend is in a very, very, sound financial position with $12 odd million in our treasury. With the interest we earn on that money and
40 with the rental income we are getting from our Mount Gibson camp which we released during the quarter, Legend’s entire overheads and administration expenses are fully paid for out of the income from those sources for certainly the next 12 months and probably beyond. At a project level, Pilbara, we have received the first approval to conduct the first drilling program on the Fox
45 Mount Marie Joint Venture ground. We are in the process of getting a heritage survey for those particular activities and we will be on the ground, organizing drills, et cetera, shortly thereafter as is humanly possible. We are expecting a more comprehensive report from our joint venture partner, Oxiana, during this current quarter but as we reported some 3000 meters of diamond drilling there with zinc intercepts and we are looking forward to (inaudible) (0:03:11) reporting the assays from that program and their follow-up work. I think really earlier in the interview, we discussed the Gum Creek iron ore potential and there will be a third drilling program probably in parallel
5 with that iron ore work with the copper prospect at the nose of Bungarra. So, you know, wrapping all of that up together, Legend is well funded. We have got income to cover all administration expenses and all of our projects are really being quite actively worked.
10 BRR All sounds promising Mark. We would like to thank you for your time and we look forward to hearing from you soon.
LEG Thanks very much, Eddie.
BRR That was Mark Wilson, Managing Director of Legend Mining Limited. If you
15 have any questions about this broadcast or any other broadcasts, please feel free to contact us on brr@brr.com.au. I am Eddie (inaudible) (0:04:03) and thank you for listening to Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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