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Message: Press Release: Legend International Holdings, Inc (LGDI) with phosphate ...

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Re: Press Release: Legend International Holdings, Inc (LGDI) with phosphate ...

in response to Press Release: Legend International Holdings, Inc (LGDI) with phosphate ... by Phosphate King

posted on Sep 29, 09 08:02AM

WOW!! Basically we just stole the D-Tree west deposit for the $1.7 million Mt.Isa Metals didn't want to pay for their share of the work done so far. MET will only receive a mere 50cents(A)/ton in royalties. (MET'S press release on their website shows that they only have 5.1 million in cash on hand.)

I guess after last week's announcement that Legend was going to focus their initial attention to the Paradise north project first and not D-Tree caused MET to not want to part with almost a third of their cash on hand and wait out this phase of the project.

Seems very coincidental or very shrewd move by management !!

By the way , the D-Tree west deposit which we just stole from MET consists of 170 m tons of phosphate!!

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