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MELBOURNE, Australia--(BUSINESS WIRE)--Legend International Holdings, Inc (OTCBB:LGDI) (a Delaware Corporation) with phosphate projects in the State of Queensland, Australia, releases the results of the phosphate rock preliminary scoping study on its phosphate projects in Queensland conducted by British Sulphur, a division of CRU International.
British Sulphur have prepared initial project capital and operating costs assuming sale prices for phosphate of US$100 per tonne fob, US$200 per tonne fob, US$300 per tonne fob and US$400 per tonne fob. In March 2008, sales of Moroccan product at US$400 per tonne fob Morocco have been recorded.
The report sets out the following gross earnings estimates (US$ millions) for the project:
Legend International Holdings has historically defined phosphate deposits of 1,463 million tonnes at 16% P2O5 on its Queensland land holdings. British Sulphur has completed the preliminary scoping study based on the following:
A copy of the Scoping Study is contained on our website at www.lgdi.net.
The Company will be commencing the revalidation of historical deposit estimates by drilling a number of twin holes across representative samples throughout the deposit zone, revalidating the metallurgical testwork by sending bench and pilot plant scale samples to an independent external engineering company to develop a flow sheet and final plant design, and conducting a full technical feasibility study and environmental impact statement.
About British Sulphur
The British Sulphur Consultants Division of CRU Group has been the leading business consultancy in the fertilizer and inorganic chemical sector for over 50 years. British Sulphur was the first supplier of information to the fertilizer industry, and remains the largest provider of services to the industry.
About Legend International Holdings Inc
Legend International Holdings, Inc (OTCBB:LGDI) is a mining and agriculture resource development company. The Company is principally focussed on developing its phosphate deposits in the Georgina basin of Queensland, Australia. The Company’s exploration licences include approximately 5.2 million acres in Queensland and the Northern Territory, Australia. For further information please visit our website at www.lgdi.net.
About Agoracom&...
For all Legend International Holding Inc investor relations needs, investors are asked to visit the Legend IR Hub at http://www.agoracom.com/IR/legendint... where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to LGDI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
Forward-Looking Statements
Forward-looking statements in this press release are made pursuant to the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the risks of exploration and development stage projects, risks associated with environmental and other regulatory matters, mining risks and competition and the volatility of mineral prices. Actual results and timetables could vary significantly. Additional information about these and other factors that could affect the Company’s business is set forth in the Company’s fiscal 2007 Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
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