Not often you stumble across a company with such a diverse portfolio. Even rarer is to find one that has such a portfolio that is of the top calibre of LEG and its investments. The newer aquisitions are looking very good, but one particular investment that has caught my eye is the bio fuels deal which could be a game changer here. They also have and investment in coal and gold which look like big winners to me. All in this is a very good time to get in at such a tiny sp. the spread is a bit daft but when this moves on good news it will all equal it's self out.
Investee Company Update - Medgold Resources Corp. ("Medgold") Awarded the Boticas Exploration Licence in Northern Portugal
Legendary, proactive investment company, is pleased to report that its investee company, Medgold Resources Corp. (TSX-V: MED), the European focused gold exploration company, has been awarded the Boticas exploration licence in Northern Portugal by the Direcao-Geral de Energia e Geologia of Portugal.
Zafar Karim, Executive Chairman of Legendary commented:
"We're pleased that the Boticas licence has been awarded to Medgold. Medgold now plans to fast-track to resource definition and explore the wider licence area where there are several untested gold anomalies."
Investee Company Update - Medgold Resources Corp. Announces Significant New Zone of Gold Mineralisation Identified at Boticas, Portugal
Legendary, the proactive investment company, is pleased to report that its investee company, Medgold Resources Corp. (TSX-V: MED) ("Medgold"), the European focused gold exploration company, has announced that recent sampling at its wholly-owned Boticas project has identified a significant new zone of gold mineralisation called Limarinho South.
Recent sampling at the new zone returned sample results from 0.05 g/t Au up to 6.55 g/t Au in 14 rock samples. Selective grab samples gave grades of 6.55 g/t, 4.98 g/t and 0.15 g/t Au, and a channel-chip sample yielded a length-weighted average of 10.8m at 1.01 g/t Au (true width uncertain). These are in addition to the selective vein sampling results of 0.24 to 13.1 g/t Au reported by Medgold in early August. Together these results outline a new zone, Limarinho South, which is approximately 350m by 250m, elongated north-south, located 200m-300m to the southeast of the existing Limarinho gold anomaly.
Limarinho South was discovered by applying a new structural concept of repeating en echelon zones controlled by, and hosted within, major faults. Medgold geologists subsequently identified and mapped several favourable structural targets, including the Limarinho South zone. Importantly, the new results have confirmed the validity new structural interpretation which will be used to explore for and sample additional targets.
Legendary, the proactive investment company, is pleased to report that its investee company, Amedeo Resources Plc (AIM: AMED) ("Amedeo") (formerly Creon Resources Plc) today announced its interim results for the six months ended 31 July 2013.
The highlights for the period were as below:
· Net profit of £245,000, (net loss of £317,000 for the six months ended 31 July 2012).
· First rig order, Le Tourneau Super 116E Class rig, specification and price increased.
· Acquired 49% of MGR Resources PTE Ltd for US$49,900, and received first dividend of US$210,000 (£138,000).
And post period, progress continued:
· Jiangsu Yangzijiang Offshore Engineering Co Ltd "strikes steel" on Le Tourneau Super 116E Class rig.
· Board strengthened, including with the addition of Zafar Karim as an executive director.
Zafar Karim, Executive Chairman of Legendary, commented:
"We are pleased with the rapid progress being made at Amedeo. Significantly, Amedeo has already started to receive returns on its investments and posted an interim profit. We look forward to continuing momentum and further developments."
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