Now it is very difficult time for all iron ore junior producers....

Now it is very difficult time for all iron ore junior producers. What will be faith of exploration companies such a Legacy Iron? Currently they have magnetite project with pocket of DSO which is not worth in current market.
The companies like BC Iron, Atlas Iron and other juniors have billions of DSO mineral resource with current market cap is approximately 30 million dollars value. What will be faith of magnetite projects, I can’t see any magnetite project developments in Midwest for quite some time. If legacy want to keep spending money on their magnetite project and keep getting paid vey month. They are not able to add any value for the project or shares. They can do best is reducing the bank balance every month. It is time they ask questions to them self, what we are doing.

Now it is holiday season approaching, I think we won’t hear any major news from company. That is my opinion. Looking at share trading these days, it looks like no buyers let to buy our shares. If we decide to sell. We have lost all our capital value.

I hope company is very serious of business not just lodging Quarterly and Annual reports. We need to see other announcements. I hope NMDC is aware of other announcement does exist in Australia. Come on this is not India.

Wish you all the best.