stan70Posts: 5,679
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| Opinion: | Strong Buy |
| Price: | 0.14 |
LEG
14 Oct '12
10 October 2012
Legendary Investments Plc
("Legendary" or the "Company")
Admission to AIM of Sula Iron and Gold Plc
Legendary is pleased to announce that Sula Iron & Gold plc ("Sula") was yesterday (9 October 2012) admitted to trading on AIM (AIM:SULA). Sula is an iron and gold focused mineral exploration and development company operating in Sierra Leone. Further information on Sula and its project can be viewed at
www.sulairongold.com.Yesterday Sula shares closed at 6.88 pence per share.
In July of this year, Legendary invested £50,000 into Sula for which it received a convertible loan note. Upon admission to trading on AIM that loan note converted to 1,250,000 Sula shares. Yesterday, Sula's closing price implied a return of 72% in 3 months on this investment. Legendary also received warrants to subscribe for an additional 625,000 shares in Sula, at nil cost, with an exercise price of 4 pence per share. At yesterday's closing price of 6.88 pence per share, this would also give a return of 72% over exercise price on these warrants.
In addition, Legendary has a further 833,333 shares in Sula which were subscribed for at 6 pence per share and warrants to subscribe for an additional 416,666 Sula shares at 8 pence per share. Yesterday's closing price of 6.88 pence per Sula share implies a return of 15% on these shares.
This investment underlines Legendary's ability to source and secure investments with exciting prospects and a catalyst for value increase.
stan70Posts: 5,679
Off Topic
| Opinion: | Strong Buy |
| Price: | 0.14 |
LEG
14 Oct '12

5 July 2012
Legendary Investments Plc
("Legendary" or the "Company")
Investment in Energy Asset
Legendary is pleased to announce that it has invested £100,000 in cash into Kyrgyzstan based Manas Minerals LLC ("Manas Minerals"). Manas Minerals owns the Padsha Ata Licence to mine for coal in the Chatkal Ridge in the Asksy region of Jalal-Abad, Kyrgyzstan. Existing Soviet surveys suggest that the region contains 182 million tonnes of coal reserves of which 116 million are in the P1 and P2 categories according to the Russian standard for resource reporting.*
An internationally recognised firm of consultants has been engaged to confirm the Soviet surveys. A specialist engineering firm is carrying out a works program on Padsha-Ata. This program includes profiling, trenching, drilling and the improvement of site access, and is expected to be completed later this year. The results of qualitative studies conducted to date indicate the coal to be of high calorific value, with energy values in excess of 25 MJ/kg and low ash and sulphur content.
The intention is to seek further licences in the region, certain of which have already been identified, and combine them into a single combine. Jalal-Abad is strategically located within in 200 km of the Chinese border.
Legendary's investment is by way of a convertible loan note which when converted is expected to result in Legendary having a 1.0% stake in Manas Minerals. In addition, Legendary has an option with an exercise price of £50,000 which upon exercise would result in Legendary having an additional 0.5% stake in Manas Minerals or equivalent thereof in any successor entity.
Value crystallisation is expected through the capital markets in the next 12 months or so.
Contact:
Legendary Investments Plc
Zafar Karim / Rajesh Rai / Thomas Reuner
020 8201 3536
Grant Thornton Corporate Finance
Colin Aaronson/ Melanie Frean
020 7383 5100
Simple Investments
Nick Emerson/ Andrew Thacker
01483 413500
* These resources may be classed as "historic" and are not directly equivalent to Western resources estimates (CRIRSCO, JORC etc). However, when verified by check drilling and sampling the P1 resources would probably be equivalent to Inferred Resources whilst P2 would probably correspond with an Exploration Target.
stan70Posts: 5,679
Off Topic
| Opinion: | Strong Buy |
| Price: | 0.14 |
LEG
14 Oct '12
4 July 2012
Legendary Investments Plc
("Legendary" or the "Company")
Investee Updates and New Investments
Progress continues to be made at Bosques Energeticos EBE S.A. de C.V. ("Bosques"). In late 2011, Bosques shipped and rooted elite Pongamia scions in Mexico. This allowed the creation of the first elite Pongamia mother garden in Mexico. Accordingly, Legendary increased its stake in Bosques from 15.4% to 30.8%. Bosques' strategy has now been further developed to cultivate large areas of bio diesel producing plantations. A number of parties have shown interest in Bosques and management intends to find suitable partners to cultivate large plantations. The Board of Legendary remains excited about the real and potential value creation that Bosques offers.
Following completion of the publisher demo by Undrawn Reality Limited ("UR") (formerly Raw Games Limited), further game development continued and preliminary discussions with publishers were also held. While earlier this year, we were in a position to report that the business was progressing, it subsequently became evident that advances with game development and associated discussions had slowed dramatically. From talks with UR, it is now clear that the timeframe to develop the game has extended considerably and it is no longer considered justifiable for Legendary to devote management resources to UR. Legendary has concluded that it will not receive a return on UR in the foreseeable future and has written its investment down to zero. While a disappointing outcome, Legendary's initial cash investment was nominal and the decision has freed-up time for the Directors to pursue other investment opportunities.
The Company is pleased to announce that it has invested £50,000 in cash in a pre-IPO funding round for Sula Iron and Gold plc ("Sula"). Sula holds a 153sq km licence in Sierra Leone, which is considered highly prospective for gold and iron ore. The latter resource is of particular interest, given that Sula's territory runs contiguous to the licence containing African Minerals' 12.8 billion tonne Tonkolili mine. The next step for Sula is to establish JORC-compliant resources and funding to undertake associated exploration is likely to be sought through admission to a public market, perhaps before the end of 2012. Legendary's investment is by way of a convertible loan, and if admission to a public market is achieved, the Legendary will receive a half-warrant for every share held.
Legendary has also invested £50,000 in cash in Regency Mines plc (AIM: RGM; "Regency"). Regency is a mineral exploration and development company focusing on nickel and cobalt in Papua New Guinea (alongside JV partner Direct Nickel) and gold, fl
stan70Posts: 5,679
Off Topic
| Opinion: | Strong Buy |
| Price: | 0.14 |
LEG
14 Oct '12
15 May 2012
Legendary Investments Plc
("Legendary" or the "Company")
Terra Energy Limited and update
In May 2011, Legendary invested €30,000 in Terra Energy Limited ("Terra"), an oil and gas company. Legendary is pleased to announce that Terra has entered into a transaction ("Transaction") with Sterling Green Group plc that is expected to result in Terra being listed by way of reverse takeover on the AIM market of the London Stock Exchange and the Enterprise Securities Market of the Irish Stock Exchange. Terra will be renamed Fastnet Oil & Gas Plc. The Transaction is subject to the approval of the shareholders of Sterling Green Group plc at a general meeting to be held on 8 June 2012.
Following the completion of the Transaction, Legendary will be a shareholder in Fastnet Oil & Gas Plc and the value of Legendary's investment in Terra is expected to generate a return in excess of 100% on Legendary's investment of 12 months ago. The Transaction demonstrates Legendary's ability to source and take positions in companies that are considered to be well run and have a near to medium term catalyst to increase value.
Legendary's other investments, Bosques Energeticos EBE S.A. de C.V., Medgold Resources Limited and Undrawn Reality Limited continue to progress. In addition, Legendary continues to work on sourcing and completing additional investments.
stan70Posts: 5,679
Off Topic
| Opinion: | Strong Buy |
| Price: | 0.14 |
LEG
14 Oct '12
29 November 2011
Legendary Investments Plc
("Legendary" or the "Company")
ROOTING OF ELITE PONGAMIA SCIONS IN MEXICO
Legendary is pleased to announce the successful shipment and rooting of elite Pongamia scions ("scions") taken from mother trees in India and planted in Mexico by its investee company Bosques Energeticos EBE S.A. de C.V. ("BE EBE").
Pursuant to the Intellectual Property Licence and Service Agreement between Legendary and BE EBE of April 2011, Legendary sourced scion material from India, provided relevant agricultural expertise and managed the shipment of the scions from India to Mexico.
1000 units of scion material were shipped in November 2011 of which 86% have rooted. Generally, results of 50% or more are considered successful. This pilot is expected to be the precursor to transport and plant, in larger volumes, scion material. The scion material will be used to start what is believed to be the first elite Pongamia mother garden in Mexico and will assist BE EBE in its programme to plant out and cultivate large areas of bio diesel producing plantations. Generally, each scion can be expected to produce from five to ten scions within eighteen months.
Arsenal221Posts: 16,913
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| Opinion: | No Opinion |
| Price: | 0.14 |
MadChatter
14 Oct '12
I was also loking forward to that being released, but I think now, leg have got just a few good investments to keep sp and us going.