Proactiveinvestors Australia

Corporate Strategy

Legacy has selected tenure on the basis of our dual commodity focus - iron ore and gold. The Pilbara and Hamersley Iron province is the world's largest iron ore province and the company has tenure that is highly prospective for iron mineralisation. Legacy's gold portfolio is located in the Yilgarn and East Kimberley regions of Western Australia, is of significant areal extent and within the right corridors to deliver exploration success.

Legacy's has met its' immediate objectives through acquiring and reviewing the substantial geological data from across all tenements and evaluating the data in a GIS (geographical information system) platform. The Company is developing structured exploration programs that focus on highly ranked iron ore and gold targets that aim to deliver resources and ultimately, new mines.

Medium-term objectives include generating cash flow from economic gold and iron ore deposits, continuing exploration for gold and iron mineralisation, creating sustainable income and seeking future projects by direct acquisition to through joint ventures.

Iron Ore Projects

Legacy holds highly prospective iron ore tenements in both the Central Yilgarn and Pilbara areas of Western Australia.  All project areas are located close to established infrastructure.

CENTRAL YILGARN

The Central Yilgarn is currently a major centre of exploration and mining activity with major hematite and magnetite resources defined by companies including Cliffs Natural Resources, Jupiter Mining Limited, Mindax Limited and Cashmere Iron Limited.

MT BEVAN IRON ORE PROJECT

Mt Bevan is a joint venture between Legacy and Hawthorn Resources Limited whereby Legacy will earn a 60% interest in the project by expending a minimum of $3.5 million to develop the project to a pre-feasibility status.  Mt Bevan is considered to hold excellent potential for the definition of substantial DSO hematite and magnetite iron resources that are located close to existing road, rail and port facilities.

The Mt Bevan Project consists of Exploration Licences E29/210 and E29/713 located approximately 100km west of the Leonora Township in the central Yilgarn region of Western Australia.

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PILBARA IRON ORE PROJECTS

The Company has two key iron ore projects in the Pilbara region of Western Australia, which cover an area of 851km2.  Both projects are proximal to existing iron ore resources and infrastructure.


ROBERTSON RANGE PROJECTS

The Robertson Range Project lies 100 - 120km east-northeast of Newman in the East Pilbara of Western Australia.  The project comprises three Exploration Licences (E45/3394, E45/3395 and E46/818) covering an area of some 800km2.  The two major tenements E45/3395 and E46/818 were recently granted in December 2009.

The tenements adjoin those of FerrAus Ltd and Atlas Iron Ltd where recent exploration has indicated a resource base of some 200Mt of high grade hematite iron ore.  In addition, E46/818 lies some 25km SSW along strike from the recently commissioned Nicholas Downs (previously Balfour Downs) major high grade manganese mine estimated to contain a resource exceeding 15Mt.

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HAMERSLEY PROJECT

The Hamersley Project lies 60 kilometres due west of Tom Price in the West Pilbara of Western Australia.  The project comprises two Exploration Licences (E47/1868 and E47/1869) covering an area of some 48 square kilometres.

The tenements flank the Beasley River CID iron ore resource, with the eastern tenement E47/1869 immediately abutting the Hamersley Iron leases.  The Beasley River deposit contains a resource of some 400Mt of iron ore that takes the form of a series of elongate mesas and ridges occupying an ancient drainage line.  This drainage line extends from the Hamersley Iron Bedded Iron Deposits in the north including the Brockman ore bodies, to the far south within the Rocklea Dome.  The southern extensions within the Rocklea Dome are largely under cover and have been subject to recent drilling by adjoining holders Murchison Metals Ltd (“Murchison”) and AusQuest Ltd (“AusQuest”).  Murchison have recently released a scoping study showing a resource of 89Mt of ore grading 59.9% CaFe (53.2% Fe) using a 50% Fe lower cut off.  The resource has low phosphorus, and moderate silica-alumina that can be reduced by simple scrubbing/jigging.  AusQuest have subsequently sold their Rocklea CID resource to Dragon Energy Ltd.  The Rocklea resource is stated to be 63.1Mt at 60.37% CaFe (53.38% Fe) using a 50% Fe lower cut off.

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Gold Projects

South Laverton Project

Legacy’s major gold interest lies in the South Laverton region, where the company holds some 560 square kilometres of prospective ground. The South Laverton project area lies along the Keith Kilkenny Tectonic Zone and the southern part of the Laverton Tectonic Zone. These structures host numerous major gold mines, with the LTZ in particular hosting gold resources of some 20 million ounces. 

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East Kimberley Project

The East Kimberley Project tenements are located in the Halls Creek area. Halls Creek occurs 347 kilometres south of Kununurra and is readily accessible via the sealed Great Northern Highway. The tenements comprise seven exploration licences, covering an area of 370 square kilometres in this highly prospective area for gold, base metal and manganese mineralisation.

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The board of Legacy Iron Ore has demonstrated commercial experience with the ability to drive innovative exploration programs, matched with effective cost-efficiency. The board has a commitment to modest administration overheads while maintaining sufficient cash reserves.

Timothy Turner
BBus (Acc), FTIA, FCPA
Non-Executive Director, Chairman

A partner with accountants Hewitt Turner and Gelevits, Timothy Turner specialises in mergers and acquisitions, corporate and tax structuring, due diligence reporting, new ventures and business development consulting.

He is also a registered company auditor and a fellow of both CPA Australia and the Taxation Institute of Australia with more than 20 years experience in management and business consultancy.

Timothy is currently non-executive director and company secretary of Cape Lambert Iron Ore Ltd and Global Iron Ltd and non-executive director of International Goldfields Ltd. All three companies are listed on the ASX.

Sharon Heng
BA (Pol Sc), MBA
Executive Director, Chief Executive Officer

With a background in commodities trading, international business development and strategic alliance planning, Sharon Heng has more than 12 years experience in joint venture negotiations, resource funding and capital raising.

Sharon has extensive knowledge of international commodities markets based on her dealings with government and private sectors in China, right across the oil and gas, energy, infrastructure and mining industries.

Currently, she is non-executive director of a resource management and consultation group, along with another Australian exploration company preparing for ASX listing.

Tao Han
Non-Executive Director

Working as a diplomat for China’s Ministry of Foreign Trade and Economic Corporation, Hunt Han has more than 15 years experience in foreign trade and investments.

He is the vice-general manager of China’s Export Base Development Corporation and has an extensive network of corporate clients and government contacts around the world.

Currently, Tao is the Managing Director of DT Resources Ltd, producing an annual turnover of $400 million

Ben Donovan
B.Comm (Hons)
Company Secretary

Mr Donovan, is a member of Chartered Secretaries Australia and provides corporate advisory and consultancy services to a number of companies.

Mr Donovan is currently a director and company secretary of several ASX listed and public unlisted companies, and has extensive experience in listing rules compliance and corporate governance, having served as a Senior Adviser at the Australian Securities Exchange (ASX) in Perth, including as a member of the ASX JORC Committee.

In addition, Mr Donovan has experience in the capital markets having raised capital and assisted numerous companies on achieving a listing on ASX, as well as a period of time as a private client adviser at a boutique stockbroking group.

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