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Legend Mining managing director shows faith in company’s mining strategy with $59,600 share purchase

After finding promising nickel, copper, and cobalt results at the Mawson prospect, the company has increased its focus on further exploration in the region.

Legend Mining Limited - Legend Mining managing director shows faith in company’s mining strategy with $59,600 share purchase
The company will spend $8 million on exploration in 2020

Legend Mining Ltd (ASX:LEG) managing director Mark Wilson has demonstrated faith in the company’s mining strategy through the purchase of shares worth $59,600 in an on-market transaction.

The purchase increases Wilson's overall holding in the company to 129.74 million shares.

Exploration budget doubles

Legend recently doubled its exploration budget to $8 million for 2020 after receiving promising drilling results from the Mawson prospect within the wider Rockford Project in Western Australia.

The results from the 1,423 metre diamond drilling program found significant intersections in drill hole RKD007, returning 70.15 metres at 0.52% nickel, 0.36% copper and 0.03% cobalt including 14.9 metres at 1.07% nickel, 0.75% copper and 0.06% cobalt.

The funding for the $8 million exploration budget is planned to come from $2.5 million owed by debtor Jindal Mining & Exploration Ltd and the exercise of options held by the Creasy Group (around $6 million).

Quick facts: Legend Mining Limited

Price: 0.155 AUD

ASX:LEG
Market: ASX
Market Cap: $369.23 m
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Legend Mining's Mark Wilson says even at higher price the company now is...

Legend Mining Limited's (ASX:LEG) Mark Wilson caught up with Proactive's Andrew Scott to discuss new assay results for hole 11 at its Mawson discovery in WA’s Fraser Range as well as extended assays for hole 8 plus new air core results. He says the numbers support Legend’s previous...

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