Legacy responds to market speculation

East Perth-based Legacy Iron Ore says it has been approached by several Chinese parties interested in forming a joint venture or acquiring a large shareholding.

The company was responding to a number of queries by investors in light of continuing market speculation.

"The company confirms that discussions are preliminary and of an incomplete nature," Legacy said in a statement.

"Should discussions progress to a more advanced stage to warrant disclosure to the market, the company will make an announcement when appropriate."

Shares in Legacy were up 3.5 cents to 16c at 15:56 AEST.

Legacy is focusing on its iron ore tenements in the Pilbara and Kimberley regions.