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Legend Mining's MD Mark Wilson Buys 10 Million Shares On-Market

Legend Mining's (ASX:LEG) managing director Mark Wilson has sent a message to investors by buying 10 million shares on market.

Between the 10th and 16th July 2014 Wilson spent $75,204, for an average entry price of $0.0075 a share.

This increased his indirect interest through Chester Nominees WA Pty Ltd (MW Wilson Super Fund A/C).

Wilson now holds an indirect stake of 55 million shares and 55 million unlisted options exercisable at $0.04 expiring 04/02/2015.

Legend in the Fraser Range

Earlier in the month Legend revealed another seven priority targets on tenement E28/2342 in the Fraser Range, Western Australia.

The targets were identified through the interpretation of aeromagnetic data from a survey flown earlier this year.

Magnetic characteristics of magnetic intrusive bodies are present, and several targets display similarities to that ofSirius Resources' (ASX:SIR) Nova deposit.

Well-funded

In June, Legend completed the sale of its Ngovayang Iron Project in Cameroon to a subsidiary of Jindal Steel and Power.

Completion of the contract is scheduled to take place this month.

The sale will leave Legend with a robust bank balance by adding $17.5 million in three tranches, boosting its already healthy cash reserves of over $3.5 million.

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