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Legend Mining raises $3.42 million through Share Placement

Last updated: 09:52 29 Dec 2009 EST, First published: 10:52 29 Dec 2009 EST

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Mining and exploration company Legend Mining has raised $3.42 million to fast-track exploration activity on the company's Cameroon Project.

The company placed 120 million new shares at $0.03 per share largely to institutional clients of CPS Securities.

Meanwhile, Legend has recruited experienced exploration geologist John Stockley to the position of Cameroon Exploration Manager.

Mr Stockley will reside in Yaoundé, the capital of Cameroon from February 2010, according to Legend Managing Director Mark Wilson.

“This money coupled with the full time presence of the Exploration Manager enables us to fast track the project whilst protecting the existing treasury position," he said.

The planned exploration programme in Cameroon remains on track with the helicopter borne magnetic survey expected to start in early January 2010. Priority target areas identified by the survey will be followed up with geological mapping, geochemical sampling and trenching. Drilling of these priority areas is envisaged for May-June 2010.

Legend Mining Melbourne/Sydney Investor Luncheon Presentation

Legend Mining Melbourne/Sydney Investor Luncheon Presentation

on 10/13/2014