Legend raises exploration funds

ASX-listed Legend Mining will raise A$20-million through a share placement to existing major shareholders, and institutional and sophisticated investors, to fund exploration activities at its Rockford project, in the Fraser Range. Legend on Thursday said that it would place some 142.8-million shares, at 14c each, under its existing placement capacity, with binding commitments received from its two largest shareholders, Creasy Group and Independence Group, as well as a range of institutional and sophisticated investors.