Hancock Prospecting and their iron ore mining group Atlas Mining, have farmed into the Mt Bevan project with Hawthorn Resources and Legacy Iron Ore Limited (ASX :LCY). The project is located 250 kms north of Kalgoorlie and 100 kms west of Leonora in the central Yilgarn of Western Australia.
Hancock acquired an initial 30% equity interest in the Mt Bevan JV by a cash payment of $8million: $3.2 million for Hawthorn, $4.8 million to Legacy, and payment of a further $1 million into the JV’s bank account for working capital.
