viewLegend Mining Limited

Legend Mining receives $3.14 million cash boost through early exercise of options

This week there have been 74.9 million March 30, 2021, options exercised and another 2 million September 30, 2022, options.

Directors and senior management have climbed the company’s top 20 shareholder list.
Directors and senior management have climbed the company’s top 20 shareholder list.

Legend Mining Limited (ASX:LEG) directors and senior management have demonstrated strong confidence in the company’s growing nickel sulphide story focused on Western Australia’s Fraser Range by exercising options.

The early exercising of 74.9 million 4-cent March 30, 2021, unlisted options and another 2 million 7.2-cent September 30, 2022, unlisted options has given the company a $3.14 million cash boost.

As a result, managing director Mark Wilson has become a substantial shareholder via Wilson Group, which is now the company’s third-largest shareholder.

Chairman Michael Atkins, via Atkins Group, and general manager exploration Derek Waterfield, through the Waterfield Group, have also now become top 20 shareholders.

Wilson Group has added 40 million shares to its tally through exercising options with a total value of $1.6 million on March 3 and now holds almost 170 million shares split between three indirect interests for a 6.16% stake.

Atkins Group exercised 10 million options for total consideration of $400,000 and now holds more than 17 million shares in one direct and one indirect interest.

Quick facts: Legend Mining Limited

Price: 0.13 AUD

Market: ASX
Market Cap: $358.17 m

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Legend Mining's Mark Wilson says cash boost from options is massive vote of...

Legend Mining Limited's (ASX:LEG) Mark Wilson caught up with Proactive's Andrew Scott following the news its directors and senior management have exercised options giving the company a $3.14 million cash boost. As a result Wilson has, via Wilson Group, become its third-largest shareholder.

on 8/3/21

2 min read