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Legend in the making

egend Mining Ltd managing direc- “The Legend story you will hear will
Ltor Mark Wilson has vowed to keep always be a story of systematic explo-
exploring in the Fraser Range until his rational persistence. You will not find
company makes the region’s next major us changing or doubling back on things
discovery. we’ve said because we’re very methodi-
One of the few juniors still active in the cal in the way we go about our business
region which gave birth to Nova, Legend and the most recent kick in our share
recently inked “transformational” deals price has really been because the mar-
with Creasy Group and Independence ket is excited about the diamond drilling
Group NL (IGO) to increase the tenure programme starting next week.”
around its Rockford project to more than Legend effectively acquired two new
3,000sq km. project areas through its dealings with
To date, Creasy’s Silver Knight discov- Creasy and IGO, while also pocketing
ery is the only major find in the Fraser nearly $10 million from a placement done
Range since Mark Bennett’s Sirius Re- at a 20% premium to prevailing market
sources struck Nova, which is now an prices.
operating mine owned by IGO. Creasy (26.8%) and IGO (14.2%) are Mark Wilson
According to Wilson, the Octagonal now Legend’s two largest shareholders. so fresh in everybody’s mind – Sirius
prospect – acquired by Legend as part At the time of print, Legend’s market had a market value of $9 million – peo-
of the recent ground tie-up – is “only the cap was nudging $100 million, putting the ple have bumped that up for Legend be-
third disclosed intercept of massive nick- company in rare air for a junior explorer. cause they know the power and capital
el-copper sulphides in this entire belt”. “With our cash and receivables that rewards that will come from a discovery.”
Legend kicked off a new diamond means we have an enterprise value in Legend is also currently undertaking
drilling programme at Rockford late last this greenfields project of $80-plus mil- aircore and EM work at Rockford in a bid
month. lion,” Wilson said. to define fresh targets for diamond drill-
“We only have one project and I’m very “It sounds a lot for a greenfields explo- ing in early 2020.
proud of the fact our entire focus is on ration company, but I think because the
this project with this commodity,” Wilson Sirius experience with the IGO takeover – Michael Washbourne
said. and the Nova production numbers is still

SAVANNAH
RECOMMISSIONED

FORECAST PRODUCTION
10,800tpa nickel | 6,100tpa copper | 800tpa cobalt

BACK IN BUSINESS AND LEVERAGED
TO BATTERY METALS

www.panoramicresources.com.au | ASX: PAN | @Panoramic_Res

aUSTRaLIa’S PaYDIRT NOVeMBeR 2019 Page 47