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LCY - LEGACY IRON ORE LIMITED


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Please explain recieved from the ASX:

 

Legacy has become aware of an article in the Mint Newspaper,New Delhi on Friday 8th April relating to NMDC and more specifically

to statements surrounding due diligence being conducted on Legacy by Australian legal advisors on behalf of NMDC. NMDC is a

Government of India,fully owned,state run public enterprise,It is under the the administrative control of the ministry of Steel,

Government of India.

 

Legacy wishes to advise the market that whilst confidential discussions have taken place and will continue to take place with NMDC

about the best way for Legacy to commence work on its highly prospective Iron Ore tenements in the Robertson Range and

Hamersley in Western Australia`s Pilbara region, these discussions are incomplete and no agreement has as yet been concluded

and may not be concluded in the future.

 

Thanks MME got in on open today at 13c, now the whole market knows about this article too, and the discussions of course lol.

 

Cheers Radd :biggrin:

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  • 1 month later...

Trading Halt!!!!

 

LCY is finalising an agreement with a major Indian government backed organisation regarding the funding of

 

exploration on the companys Pilbara iron ore assets and an investment in the company.

 

Luck to Holders

 

Cheers Radd :biggrin:

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  • 2 months later...

from a purely technical point of view, LCY appears well supported at current levels; that is evident on weekly level:

 

post-20537-1312170461_thumb.jpg

as well as the Daily chart:

 

post-20537-1312170500_thumb.jpg

I hold.

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  • 2 weeks later...

Methinks it's time to take profit.

Fib 161.8% is often offering strong resistance; especially if today's candle finishes as an island reversal doji *), the odds are in favour of a retracement early next week.

 

post-20537-1313115120_thumb.jpg

 

*) "island reversal doji" is any of the configurations "abandoned baby", "evening star", "deliberation", "doji star"...

see http://www.leavittbrothers.com/education/c..._patterns/bear/

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