Market speculation has been building surrounding Legacy Iron Ore (ASX: LCY) and the Indian government owned National Mineral Development Corp (NMDC), with Legacy today quashing rumours saying no agreements have been made.
Legacy said that confidential discussions have taken place between itself and the NMDC, regarding the best way for Legacy to commence work on its prospective iron ore tenements in the Robertson Range and Hamersley, located in Western Australia’s Pilbara region.
The Robertson Range Project consists of three exploration licence applications, with the tenements covering around 800 square kilometres.
The Hamersley Project is centrally located in the Hamersley Iron province and consists of an unencumbered interest in two exploration leases covering 52.3 square kilometres.
Legacy said it will keep the market informed regarding further discussions and outcomes with the NMDC.