LEG - Legend Mining
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Hi All
Classic breakout in 200610 ... lovely big whites on heavy volume confirming the move ... UNTIL ... 20061206 now influencing and not a big white but black with volume ...
This shaddow now cast over price action since then ... 7.5 - 8.0 should hold ... not for me yet if can produce more big whites breaking into new air would be a hold.
Classic breakout in 200610 ... lovely big whites on heavy volume confirming the move ... UNTIL ... 20061206 now influencing and not a big white but black with volume ...
This shaddow now cast over price action since then ... 7.5 - 8.0 should hold ... not for me yet if can produce more big whites breaking into new air would be a hold.
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This was my first ever foray into share trading - it has been nothing but a headache. I hold out for the day of breakeven.
If trend continues with this stock, management has only ever requested trading halts/suspensions when they have made a find they believe to be significant. However past results suggest what management believes has been significant, the market has never really agreed. As a holder of the stock I certainly hope they do have a small surprise in the pipeline (or should I say ground), but I wont (like times in the past) hold my breath.
I can’t see Legend's share price really kicking north until they identify more consistent and higher grade targets and then an eventual return to mining status.
If trend continues with this stock, management has only ever requested trading halts/suspensions when they have made a find they believe to be significant. However past results suggest what management believes has been significant, the market has never really agreed. As a holder of the stock I certainly hope they do have a small surprise in the pipeline (or should I say ground), but I wont (like times in the past) hold my breath.
I can’t see Legend's share price really kicking north until they identify more consistent and higher grade targets and then an eventual return to mining status.
Some body just mentioned this could be the stock to turn $9500 into$550,000
Well it just could be since oxiana have taken an interest in their tenement and now leg is being free carried to a bankable feasability study
This is those who like to buy and hold
Well it just could be since oxiana have taken an interest in their tenement and now leg is being free carried to a bankable feasability study
This is those who like to buy and hold
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I could be wrong but get this incling that there may be something bubbling just under the surface with this one ............ Six days running of higher lows on smallish volume .......... There was some accumulation about a month ago at a slightly higher sp .......... They have some very interesting tenements and JV's ................ and owned by a multi-millionare ............... No-one seems to want to sell below.077 ............. Could be worth watching if the volume starts to increase .......... Cheers.
http://www.legendmining.com.au/
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Looks like my incling was justified .............. Anybody else jump on yesterday ..... Up 11% today on good volume ..... Cheers.
doogie_goes_off
disbelieve if you can
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As an FXR holder and watcher keen on geological fundamentals not charts I'd say it's justified. These EM conductors have the same character as known deposits in the area and represent good targets for moderate grade low tonnage deposits. The presence of a conducter does no necissarily = ore but the discreet blobs with a high probability of some success. Haven't read the "buy in agreement" on the FXR tenements nor looked at market cap for LEG but I can say it's a good geological result. Good luck to followers of LEG
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Opies with a year to run are trading at a slight discount to the heads at the moment. Opies are exercisable at 4c up to 31/7/08 and currently trading at 4c while the heads are trading at 8.5c
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As an FXR holder and watcher keen on geological fundamentals not charts I'd say it's justified. These EM conductors have the same character as known deposits in the area and represent good targets for moderate grade low tonnage deposits. The presence of a conducter does no necissarily = ore but the discreet blobs with a high probability of some success. Haven't read the "buy in agreement" on the FXR tenements nor looked at market cap for LEG but I can say it's a good geological result. Good luck to followers of LEG
Hi Doogs, I had a look through their website a couple of days ago and liked what I saw. Assessing fundamentals is not my strong suit, but they seem to be mixing with the right people ............ JV's with Fox and Oxiana .......... and between them and Fox they have some serious amounts of acres around the Pilbara/Karratha area ........... A lot of shares on offer, but 67% owned by top 20 shareholders ..............
Link to website above for anyone interested ................ Brief presentation of their interests here for an overview ... http://www.legendmining.com.au/reports/ASX20070515_AGMPresentation.pdf
Over 5 million shares traded today ......... Looking interesting .... Cheers.
I spotted this too and picked up a large parcel of oppies@ 4.2c. With a year to run for the oppies there is almost no premium to pay. I also noticed early june a director buying 2 million shares on market when the share price dipped to 8 c.There also the interest OXR have taken in ther e tenements with legend being free carried to a bankable feasability study
Just came on boardroom radio , Comments by the ceo about the last vtem surveyhttp://www.brr.com.au/
LEG mining ltd jul 05 2007 12.30 pm
LEG mining ltd jul 05 2007 12.30 pm
Another announcement out - looks good!
FIRST DRILLHOLE AT MT GIBSON INTERSECTS ZINC MINERALISATION
● 30m zone with disseminated and banded sphalerite from 285m
● 70cm interval containing massive sphalerite
Joint venture partner Oxiana Limited (ASX:OXR) has advised Legend Mining Limited (“Legend”) (ASX:LEG) of the completion of the first diamond drillhole (MGB001) at the Mt Gibson Project in Western Australia, see Figure 1. The drillhole intersected a broad 30m zone of disseminated and banded sphalerite (zinc sulphide mineral) from 285m downhole, including a 70cm interval containing massive sphalerite.
Legend Managing Director Mr Mark Wilson said “The joint venture partners are
encouraged by this zone of mineralisation in what is the first hole in this programme. The significance will not be fully understood until assays are received, the programme is completed and all results are put into context with the geological model. However this intercept is from a far shallower depth than previous mineralisation at the project”. MGB001 is part of a 5 hole 3,000m drilling programme targeting volcanic hosted massive sulphide mineralisation similar to that at Golden Grove located 100km to the north.
Hole MGA94 East MGA94 North Dip Azi (Mag) Depth
MGB001 517030m 6711455m -60o 110o 462.8m
Oxiana technical staff have provided Legend with geological information from the drillhole, which is summarised below.
“MGB001 intersected a 30m zone of disseminated and banded sphalerite from 285m, associated with feldspar-phyric rhyodacitic units intercalated with a cordierite, anthophyllite, amphibole, biotite and rare garnet altered basic unit. Mineralisation is predominantly pyrite+sphalerite ±pyrrhotite hosted exclusively in the rhyodacitic units,with larger bands dominated by massive sphalerite.”
Mt Gibson JVOn 8 May 2007, Legend announced a Farm-In and Joint Venture Agreement with Oxiana Exploration Pty Ltd, a wholly-owned subsidiary of Oxiana Limited, over the Mt Gibson Project.
Under the terms of the agreement, Oxiana may earn a 75% interest in the project by funding $10 million of exploration within 7 years, with Legend 25% free-carried to completion of a bankable feasibility study and a decision to mine. Oxiana must spend $1.2 million within the first 18 months before having a right to withdraw.
FIRST DRILLHOLE AT MT GIBSON INTERSECTS ZINC MINERALISATION
● 30m zone with disseminated and banded sphalerite from 285m
● 70cm interval containing massive sphalerite
Joint venture partner Oxiana Limited (ASX:OXR) has advised Legend Mining Limited (“Legend”) (ASX:LEG) of the completion of the first diamond drillhole (MGB001) at the Mt Gibson Project in Western Australia, see Figure 1. The drillhole intersected a broad 30m zone of disseminated and banded sphalerite (zinc sulphide mineral) from 285m downhole, including a 70cm interval containing massive sphalerite.
Legend Managing Director Mr Mark Wilson said “The joint venture partners are
encouraged by this zone of mineralisation in what is the first hole in this programme. The significance will not be fully understood until assays are received, the programme is completed and all results are put into context with the geological model. However this intercept is from a far shallower depth than previous mineralisation at the project”. MGB001 is part of a 5 hole 3,000m drilling programme targeting volcanic hosted massive sulphide mineralisation similar to that at Golden Grove located 100km to the north.
Hole MGA94 East MGA94 North Dip Azi (Mag) Depth
MGB001 517030m 6711455m -60o 110o 462.8m
Oxiana technical staff have provided Legend with geological information from the drillhole, which is summarised below.
“MGB001 intersected a 30m zone of disseminated and banded sphalerite from 285m, associated with feldspar-phyric rhyodacitic units intercalated with a cordierite, anthophyllite, amphibole, biotite and rare garnet altered basic unit. Mineralisation is predominantly pyrite+sphalerite ±pyrrhotite hosted exclusively in the rhyodacitic units,with larger bands dominated by massive sphalerite.”
Mt Gibson JVOn 8 May 2007, Legend announced a Farm-In and Joint Venture Agreement with Oxiana Exploration Pty Ltd, a wholly-owned subsidiary of Oxiana Limited, over the Mt Gibson Project.
Under the terms of the agreement, Oxiana may earn a 75% interest in the project by funding $10 million of exploration within 7 years, with Legend 25% free-carried to completion of a bankable feasibility study and a decision to mine. Oxiana must spend $1.2 million within the first 18 months before having a right to withdraw.
