PERTH (miningweekly.com) – ASX-listed junior Legacy Iron has announced the resignation of CEO Julian Mizera, effective from August 29, as he pursued "other business opportunities".
Mizera joined the company in March this year.
While formally retiring at the end of the month, Mizera has agreed to assist and support the company beyond this date to ensure that any short-term disruption to the company’s activities were minimised as far as possible.
Legacy told its shareholders that the company remained well funded to pursue its growth strategy following a recent rights issue. The funds were raised to allow Legacy to execute its growth strategy for the Mt Bevan project, in Western Australia.
The Mt Bevan project is a joint venture between Legacy and fellow-listed Hawthorn Resources. Legacy could earn a 60% stake on the project by spending a minimum of A$3.5-million to develop the project to prefeasibility status.
The project is currently estimated to host an inferred resource of 1.59-billion tonnes, grading 30.2% iron.