Legend Mining's (ASX:LEG) managing director, Mark Wilson, has loaded up with further shares taking advantage of the cash infused valuation of the company.
Wilson bought 10 million shares at $0.008 for a consideration of $80,000 for the Chester Nominees WA Pty Ltd (MW Wilson Super Fund A/C). This boosts Wilson's holdings in LEG to 70 million shares and 55 million unlisted options.
At the end of September 2014 the company had $10.6 million in cash and other liquid assets.
There are also two more tranches of $6 million and $5.5 million to come following the sale of the Ngovayang project, which ensures the company is well funded going ahead.
LEG is capitalised at $16 million.
The company recently commenced a major moving loop electromagnetic (MLEM) survey over its Fraser Range Project in Western Australia.
The project is considered prospective for Nova style nickel-copper and Tropicana style gold mineralisation.
Worth noting Mark Creasy is the largest shareholder in LEG with around 25%.
