Legacy Iron Ore Acquires 60% of Hawthorn

IBTimes reported  Legacy Iron Ore (ASX:LCY) is poised to acquire a 60 per cent control in Hawthorn Resources (ASX:HAW).

As quoted in the market news:

Legacy and Hawthorn had signed a term sheet for the deal which will be finalized after an upgrade to the current inferred resource at Mt. Bevan is known. This is likely to be announced in mid-January 2012.

Click here to read the full IBTimes report.