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Nice volume to day after yesterday!
Wonder how this compares to AAA? Approx same Mkt Cap at this point.
For some folks, that is a lifetime!!! And, no. It dropped from my radar somehow... the chart has an unmistakeable uptrend in effect.
Following Nomura's appointment as Legend's financial advisor (see press release dated December 2, 2010) keen interest has been received by international industry corporations for potential strategic transactions involving development and financing of the phosphate assets. A number of parties are conducting due diligence on the phosphate assets and the company is continuing discussions with these parties.
took starter here on news
You still in this one?
Legend International Announces 60 Year Mine Life from Its Maiden Mineral Reserve Estimate for the Paradise South Phosphate De...
Legend Intl Hldgs (OTCBB:LGDI)
Intraday Stock Chart
Today : Thursday 24 February 2011
Legend International Holdings, Inc (OTCBB: LGDI) (Legend) is pleased to announce its maiden mineral reserve estimate for its 100% owned Paradise South phosphate project. For this initial mineral reserve estimate, Legend aimed to define reserves for a minimum 30 year mine life to support the base case scenario of producing 600,000 tonnes per year of Diammonium Phosphate (DAP) and Monoammonium Phosphate (MAP) high analysis phosphate fertilizers, for 30 years as covered by Legend's feasibility study (see press release dated July 24 2010 on the company website www.lgdi.net). The resulting mineral reserve estimate is well above expectations with the following highlights:
Proven and probable reserves of phosphate rock that will support 59.8 years of operation for the 600,000 tonnes DAP and MAP per annum production scenario or 29.9 years at a doubled rate of production.
'As-mined' proven and probable ore reserves of phosphorite of 196.1 million tonnes at 14.6% P2O5.
Proven and probable mineral reserves of recoverable, commercially useable and internationally marketable phosphate rock concentrate of 55.5 million tonnes at 33% P2O5 (72 BPL).
Reserves based on a DAP price of US$445 per tonne FOB Tampa with DAP prices currently over US$610 per tonne.
For the full report with maps and tables included please see the detailed technical report available on Legend's website www.lgdi.net
Following Nomura's appointment as Legend's financial advisor (see press release dated December 2, 2010) keen interest has been received by international industry corporations for potential strategic transactions involving development and financing of the phosphate assets. A number of parties are conducting due diligence on the phosphate assets and the company is continuing discussions with these parties.
The reserve area targeted by recent drilling within the Paradise South Mining Lease Application (MLA90197) equates to only approximately 70% of the area that contains historically defined mineralised material within this lease and only approximately 50% of the area that contains historically defined mineralised material within Legend's exploration licence EPM16942. The current reserve estimates correlate well to historical (1970's) estimates. This supports potential further increases in reserve tonnage upon successful future drilling results within areas that have not recently been tested with modern drilling techniques but have reported phosphate intersections in historical drilling information.
Paradise South is one of seven phosphate rock deposits controlled by Legend and is the first to have a current mineral reserve estimate reported. All seven deposits however have historically reported mineralised material of significant tonnage.
Reserves
The reserve estimate is presented below in Table 1 as both "as-mined" ore reserves of phosphorite which will provide feed for the beneficiation plant to be located at Paradise South, and the recoverable commercially useable or marketable phosphate rock concentrate or "product" mineral reserves achievable from the ore reserves. The ore reserves and mineral reserves cannot be aggregated as the mineral reserves represent the recoverable product derived from the ore reserves after beneficiation of the phosphorite. Reserve classifications are as defined in the U.S Securities and Exchange Commission's Industry Guide No. 7.
The "as-mined" proven ore reserves of the Paradise South phosphorite deposit are currently estimated at 98.0 million tonnes of phosphorite at 15.3% P2O5. The Paradise South phosphorite deposit contains additional probable ore reserves estimated at 98.1 million tonnes of phosphorite at 13.9% P2O5. The total proven and probable ore reserves are estimated at 196.1 million tonnes of phosphorite at 14.6% P2O5. These reserves are based on a block model, typical of industry standards, developed from 180 drill holes using reverse circulation drilling technology and 32 cored diamond drill holes.
The recoverable, proven mineral reserves of the Paradise South phosphorite deposit are currently estimated at 28.9 million tonnes of phosphate rock concentrate at 33.1% P2O5 (72.4 BPL). The Paradise South phosphorite deposit contains additional probable mineral reserves estimated at 26.6 million tonnes of phosphate rock concentrates at 32.9% P2O5 (71.8 BPL). The total proven and probable mineral reserves are estimated at 55.5 million tonnes of phosphate rock concentrates at 33.0% P2O5 (72.1 BPL). These reserves are based on a block model, typical of industry standards, developed from 180 drill holes using reverse circulation drilling technology, 32 cored diamond drill holes and a beneficiation process developed specifically for Legend's phosphorite ore types.
The projects base case scenario of producing 600,000 tonnes per year of DAP/MAP fertilizers requires approximately 0.93 million tonnes per annum of phosphate rock concentrate at 33% P2O5 to feed Legend's proposed Mt Isa Fertilizer Complex. The above proven and probable phosphate rock concentrate reserves of 55.5 million tonnes therefore provide a total project life estimated at 59.8 years. This mine life calculation is based on recovering 93% of the P2O5 from the rock concentrate during the acidulation process and 95% of the P2O5 during the DAP/MAP granulation process. It is also based on producing MAP and DAP at a 2:1 ratio which have total P2O5 contents of 52% and 46% respectively. A doubled production scenario would provide an estimated total project mine life of 29.9 years.
Proven reserves are based on an area of influence for each drill hole not to exceed 20 acres (8 hectares). Probable reserves are based on an area of influence for each drill hole not to exceed 40 acres (16 hectares).
It is reasonable to expect that additional fill-in drilling to reduce the drill hole area of influence will result in the reclassification of probable reserves into the proven category. Legend may endeavour to expand the Paradise South proven and probable reserves in future drilling seasons.
Table 1. Ore & Mineral Reserves for the Paradise South Phosphate Rock Deposit.
(1) (2) ORE RESERVES - "As-Mined" Phosphorite (Pre Processing)
Tonnes
(Millions)
%P2O5 Average BPL %Fe2O3 %Al2O3 %MgO %CaO
Proven 98.0 15.3 33.4 6.5 2.6 0.4 21.3
Probable 98.1 13.9 30.4 6.1 2.4 0.4 19.3
Total 196.1 14.6 31.9 6.3 2.5 0.4 20.3
Acres
Hectares
(3)Overburden (3)Ore (3)Interburden
Proven 1,277 517 10.1 10.5 2.3
Probable 1,315 532 13.4 10.2 3.2
Total 2,592 1,049 11.8 10.4 2.8
(4) (2) MINERAL RESERVES - Recoverable Phosphate Rock Concentrate (Post Processing)
Tonnes
(Millions)
%P2O5 Average BPL %Fe2O3 %Al2O3 %MgO %CaO
Proven 28.9 33.1 72.4 (5)3.0 0.8 0.2 47.0
Probable 26.6 32.9 71.9 (5)2.9 0.8 0.2 46.6
Total 55.5 33.0 72.1 (5)2.9 0.8 0.2 46.8
(1) Ore reserves are defined here as the phosphorite ore material for the beneficiation plant. It is "as-mined" material and is before screening and processing in the proposed flotation beneficiation plant to be located at Paradise South. All ore reserves are in areas that are fully accessible for mining; free of surface or subsurface encumbrance, legal setbacks, environmental reserves and other legal restrictions that preclude permittable access for mining; believed by us to be permittable within a reasonable timeframe; and meet specified minimum physical, economic and chemical criteria related to current mining and production practices of the industry.
(2) Proven and Probable Reserves have been estimated by Henry J. Lamb (a member of the American Institute of Professional Geologists and Licensed Professional Geologist Registered in the states of Florida and North Carolina), who has more than 30 years experience in the exploration, development, valuation and operation of phosphorite deposits throughout the world including the United States, Peru, Egypt, Iraq, Uganda, Australia, Jordan, and Kazakhstan. Mr. Lamb is an independent consultant contracted to Legend. During this project, Mr. Lamb had opportunities to observe portions of the drilling and sampling activity, reviewed analytical and metallurgical laboratory procedures, reviewed the geologic database, converted the phosphorite ore information to phosphate rock concentrate (product); reviewed the operating cost model, and independently estimated the proven and probable reserves based on phosphate industry accepted procedures and standards. In preparing this proven and probable phosphate rock concentrate reserve estimate, Mr. Lamb relied upon his independent examination of geologic, metallurgical, and cost estimate data provided by Legend. Throughout the exploration and development program, Mr. Lamb has been an independent Technical Advisor to the Legend staff and project management regarding the exploration and development of the Paradise South Phosphorite Deposit.
(3) Overburden, ore and interburden are reported here as average thicknesses in vertical metres.
(4) Mineral reserves are defined here as the recoverable rock concentrate post screening and processing of the ore through the proposed flotation beneficiation plant to be located at Paradise South. This material is therefore a subset of the ore reserves and cannot be summed with the ore reserves. These reserves are in areas that are fully accessible for mining; free of surface or subsurface encumbrance, legal setbacks, environmental reserves and other legal restrictions that preclude permittable access for mining; believed by us to be permittable within a reasonable timeframe; and meet specified minimum physical, economic and chemical criteria related to current mining and production practices of the industry.
(5) Please see comments in the detailed technical report in the section on Metallurgy titled "Investigative studies on the Fe2O3 content" which details test work that shows less than 50% of the iron contained in the rock concentrate leaches into the phosphoric acid due to the iron species being less amenable to acidulation than other known iron species.
Project Expansion Study
An expanded study has also been underway to examine the feasibility of doubling production to produce 1.2 million tonnes of DAP/MAP and 30,000 tonnes of AlF3 per year. Indications are positive in that the project economics improve with increased scale and that the proposed scale is technically and economically feasible. The above reported reserve estimates also warrant an expanded production scenario with no further drilling required. Completion and reporting of results of this study are now estimated to occur before the end of this current quarter (Q1 2011).
How is this board so dead with that news? Man if they had only released that 1 week earlier!
After analyzing this stock, it is our opinion that based on the pps of Mosaic @ $77 and Potash @ $159 (both 52 week highs), and with the anticipation of LGDI's financial advisor Nomura raising hundreds of millions of dollars in investment capital, the target price of LGDI should be at least $5! We are very bullish on this stock. This thing is going to fly high very soon; to at least $5 and the sky is the limit!
Simon Jacobs from the J Group shared with me that this stock is very undervalued and should be near the target price of 3.50.
Anything to do with the fertilizer business is a recommended buy today by top analysts because of the influence of BHP Billiton Ltd's $39 billion bid for Potash Corp.
Insider filed a purchases of LGDI. And it looks like a money manager
Attara Capital LP 50,100 shares for $53,165
This info came out on Friday--and I saw it on TheStreet.com
LGDI bounced off support. Good sign--Now for some news
Looks like LGDI is suffering from the old proverbial "Buy on Rumor, Sell on News".
LGDI's trading volume is picking up. Good sign and helpful when the company comes out with news on revenues.
LEGEND INTERNATIONAL HOLDINGS INC. PHOSPHATE PROJECT - FURTHER MILESTONES AND PROJECT UPDATE
Melbourne Australia – March 16, 2010 – Legend International Holdings, Inc (OTCBB: LGDI) is pleased to announce a number of milestones for its Queensland Phosphate Project including recent initial findings from the feasibility study being conducted by Wengfu, metallurgical results, and the initial JORC resource estimate for the central core of its 100% owned Paradise North Phosphate Deposit (EPM 17330). For the full results and technical report (Form 8-K) please visit Legend’s website www.lgdi.net. The highlights of this report are:
• Wengfu (Group) Co. Ltd’s delegation of 7 technical experts completes visit to Legend’s Phosphate deposits and associated facilities in Australia to further the current feasibility test work that is currently being undertaken by Wengfu. Initial findings and recommendations are very positive.
• Upon completion of a positive feasibility study, Wengfu will become an equity partner with Legend and assist with obtaining further financing options for the project.
• Recent metallurgical testwork conducted in the U.S.A has proven that material from Paradise North acidulates well and makes a world market quality phosphoric acid.
• Queensland’s Department of Infrastructure and Planning have reserved over 740 acres of suitable land for the development of a phosphoric acid plant located 5km south of Mt Isa for Legend’s Phosphate Project.
• 2009 Pilot Beneficiation Plant testwork concludes, proving the internally designed flowsheet for flotation of phosphate rock concentrate successfully upgrades rock up to 35% P2O5.
• Initial DSO targeted JORC resource estimate of 7.3 Mt @ 28.1% P2O5 for the currently drill tested central core (less than 5% of historical resource area) of the Paradise North deposit (EPM 17330).
• Legend’s project schedule will be based on Wengfu’s feasibility study recommendations.
• IFFCO remains a strong strategic partner willing to off take rock and fertiliser products.
• Indian government to send delegation, including the Minister of Fertilizers and the Managing Director of IFFCO, to visit Legend’s Phosphate Project and Queensland State Ministers on March 23, 2010.
• Legend intends to spin out to a new company the diamond, gold and base metal interests of Legend of which Legend shareholders will receive shares of common stock on a pro rata basis to the shares they hold in Legend. Following the spin out, Legend will be a 100% pure phosphate company.
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 2008 Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
For further information, please contact:
Mr. Joseph Gutnick
General Manager Business
Chief Executive Officer
New York Office
Legend International Holdings, Inc.
Legend International Holdings, Inc.
Tel: +011 613 8532 2866
Tel: (212) 223 0018
Fax: +011 613 8532 2805
Fax: (212) 223 1169
E-mail: josephg@axisc.com.au
E-mail: legendinfo@axisc.com.au
yeah i know no pr and it ran close to its 52 week high it was pretty crazy should have sold but stayed in im in for a long time been in since .60
Most recently at .20 this past Fri. before the close.
This one can pop 50% to 100% on minimal volume for no apparent reason. Oddball play here.
I've been in and out several times...with small trades...alwasy taking free stock as profit...to hold long term in tax deferred accts.
what pps did you get in at?
Got some LGDI today ... no chatter on the boards is a good sign for bottom feeding fundamentally undervalued stocks.
Chart isn't oversold, but not toppy either.
Love the US listed china plays...this make 84 of them now... generally I buy low/oversold, sell into pops and take free shares to ride long term. Sometimes free stocks rallies so much it makes to sense to lighten the free shares and buy new ones ... like LGDI.
LGDI is looking real good here with the stock up over 40% in one month.
Board that hosts General Information on Fertilizer Sector
http://investorshub.advfn.com/boards/board.aspx?board_id=9037
LGDI is breaking out here.
Paradise North drill results from months ago (Sept I think) I thought were the best yet so I bot (added) sometime back then around a small core position I have held for awhile.
Sold those flip shares today.
I'll let the small core position continue to rot. Looks like this has some good momentum behind it finally.
Thank You... No Brainer here.
Wish LGDI would convert all their numbers in their filings to USD based on a set conversion rate. Instead of requiring investors to pull out their calculator.
Watch for LGDI before the end of the year....real news with revenue numbers.
About $0.32 per share in cash for LGDI. They have the means to grow without needing a dilutive financing.
Interesting contribution... the market likes it - chart...
http://www.thehindubusinessline.com/2009/10/07/stories/2009100750591600.htm
Our Bureau
New Delhi, Oct. 6 The Indian Farmers Fertiliser Cooperative Ltd (Iffco) plans to set up its second overseas phosphoric acid manufacturing facility at Jordan.
The proposed $625-million project would be executed through a joint venture, Jordan India Fertiliser Company, in which Iffco will hold 52 per cent and Jordan Phosphate Mines Company will hold 48 per cent.
The plant is envisaged to have a production capacity of 4.65 lakh tonnes per annum (tpa) of phosphoric acid.
“We are aiming for financial closure within the next two months and expect the plant to be commissioned by end-2012,” the Deputy Managing Director of Iffco, Mr Rakesh Kapur, told Business Line.
The foundation stone for the project was laid by the Jordan King at a function in Eshidiya on October 3, which was also attended by the Industry Minister of Jordan, Dr Amer Haddidi, and Iffco’s Managing Director, Dr U.S. Awasthi.
Iffco also holds 19 per cent in Industries Chimiques du Senegal, which operates a 660,000-tcd phosphoric acid plant at Dakar, Senegal.
This venture, in which the Senegal Government owns majority stake, has a capacity of 300,000 tpa.
Australian project
In addition, the cooperative has a 15 per cent stake in Australia’s Legend International Holdings, Inc. This company is executing a project to mine rock phosphate at Lady Annie, Queensland.
Iffco has signed a long-term offtake and supply agreement for sourcing 30 lakh tonnes (lt) of rock annually from the project.
“Our di-ammonium phosphate plant at Kandla (Gujarat) imports 10 lt of phosphoric acid annually, while the Paradeep unit requires 35-40 lt of rock phosphate.
The proposed joint ventures will go a long way in meeting these requirements,” Mr Kapur added.
Related Stories:
Iffco, IPL ink pact for DAP import
IFFCO in pact with Kazphosphate
IFFCO know as Indian Farmers Fertiliser Cooperative Limited is the world’s largest fertiliser cooperative based in India and owns 34 million shares. About 20 million bought this year.
http://biz.yahoo.com/t/30/7863.html
Been watching for over a month now, took a position today and will be adding in the days and weeks to come.
Anybody have the OS and Float of LGDI? Not seeing it on yahoo.
the colors on the chart make my head spin.
buy low sell high
Iffco to set up phosphoric acid unit in Jordan
New Delhi, Oct. 6, 2009
The Indian Farmers Fertiliser Cooperative Ltd (Iffco) plans to set up its second overseas phosphoric acid manufacturing facility at Jordan.
The proposed $625-million project would be executed through a joint venture, Jordan India Fertiliser Company, in which Iffco will hold 52 per cent and Jordan Phosphate Mines Company will hold 48 per cent.
The plant is envisaged to have a production capacity of 4.65 lakh tonnes per annum (tpa) of phosphoric acid.
“We are aiming for financial closure within the next two months and expect the plant to be commissioned by end-2012,” the Deputy Managing Director of Iffco, Mr Rakesh Kapur, told Business Line.
The foundation stone for the project was laid by the Jordan King at a function in Eshidiya on October 3, which was also attended by the Industry Minister of Jordan, Dr Amer Haddidi, and Iffco’s Managing Director, Dr U.S. Awasthi.
Iffco also holds 19 per cent in Industries Chimiques du Senegal, which operates a 660,000-tcd phosphoric acid plant at Dakar, Senegal.
This venture, in which the Senegal Government owns majority stake, has a capacity of 300,000 tpa.
Australian project
In addition, the cooperative has a 15 per cent stake in Australia’s Legend International Holdings, Inc. This company is executing a project to mine rock phosphate at Lady Annie, Queensland.
Iffco has signed a long-term offtake and supply agreement for sourcing 30 lakh tonnes (lt) of rock annually from the project.
“Our di-ammonium phosphate plant at Kandla (Gujarat) imports 10 lt of phosphoric acid annually, while the Paradeep unit requires 35-40 lt of rock phosphate.
The proposed joint ventures will go a long way in meeting these requirements,” Mr Kapur added.
http://www.thehindubusinessline.com/2009/10/07/stories/2009100750591600.htm
Trade LGDI. That is the only way you can keep sane, IMO
Now it has filled the gap--twice.
I see all the positives but the stock has been trending downward. Trying to catch the bottom before the stock leaves the station to paradise. I know they've been delayed so this isn't making some people happy. They've taken on more responsibility because a fall out of one of the other investor could not pay the fees to stay on the project. I'd feel better jumping in if the stock could stay over one dollar.
Track insider buy and sell
http://www.secform4.com/insider-trading/1132143.htm
http://www.secform4.com/insider-trading/900203.htm
http://research.scottrade.com/public/stocks/insiders/insiders.asp?symbol=LGDI
Key Shareholders as of June 2009
Top 5 shareholders -- 65.0%
21.5% - Renika Pty Ltd
13.5% - Atticus Capital LP
15.1% - Indian Farmers Fertiliser Cooperative Ltd
10.4% - Soros Fund Management LCC
08.8% - Chabad House of Caulfield
Total issued shares 226,333,392
Cash A$98m
http://www.lgdi.net/resources/i/docs/Presentations/australasian_fertiliser_briefing.pdf
Update - September 24, 2009
Legend currently has four granted tenements within the package; these consist of the Paradise North, Barr Creek and Paradise South tenements, the latter of which was granted on August 28, 2009. A detailed drill program is planned to start at Paradise South at the start of October 2009 with the aim of developing future beneficiation stage reserves for the project.
http://www.lgdi.net/resources/i/docs/Form%208K/8K_090924.pdf?legend=d012bdec572808430a2a533fc9b98641
currently it's taking thirty thousand more buying shares to move the stock one penny. to me that's taking a lot buying to move this stock up, am i wrong?
Is it time to get on board? eom
Legend International Holdings Inc. Announces It Now Holds 100% of D-Tree Phosphate Project, Queensland, Australia
September 29, 2009
MELBOURNE, Australia--(BUSINESS WIRE)--Legend International Holdings, Inc (OTCBB:LGDI) with phosphate projects in the State of Queensland, today announced that it holds 100% of the D-Tree phosphate project following Mt Isa Metals Ltd’s (“MET”) exit from the joint venture.
Legend, as manager of the D-Tree Joint Venture, had invoiced MET $1.739 million for MET’s 20% interest in the D-Tree project for the period September 1, 2008 to June 30, 2009. MET has decided to dilute rather than pay the invoices and in accordance with the Joint Venture agreement, MET’s interest has reduced to less than 5%, thus requiring MET to exit the Joint Venture. MET retains a royalty of A$0.50 per tonne from product from the D-Tree Joint Venture tenements.
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090929005560&newsLang=en
Next news from the comapny should have a little in it about potential revenues for the next 12 months or so.
JMO
CHART
LGDI
I bought back some flip shares today and still holding a few in a core position. The drill results reported yesterday were pretty good IMO but I need to look at it closer.
LGDI bouncing off the filling on that gap. All clear.
Soros owns 10% of LGDI. And institutions own 70% ofthe company.
At least, as of 12 Dec. 2008.
Renika Pty Ltd 21.22%
Atticus Capital LP 13.69%
Soros Fund Management
10.2%
IFFCO 8.84%
Chabad House of Caufield
8.8%
Park Avenue Discoveries LLC
4.79%
Parella Weinberg Partners 3.09%
Total 70.63%
*As at 12 December 2008
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Legend's Northern Territory exploration projects include McArthur River; Abner Range; Glyde; Foelsche; and Cox.
Legend's base metal project is situated approximately 20 kilometres south west of Borroloola. The Emu fault zone which runs through Legend's tenements is a mineralised geological feature hosting the HYC Pyritic Shale base metal prospect and a number of known base metal deposits accounting for 8% of world base metal (lead-zinc-silver) production.
The Abner Range Plateau is approximately 300 kilometers south of Borroloola, west of The Gulf of Carpentaria in the Northern Territory. It is host to the diamondiferous Abner Range Kimberlite part of the Merlin diamondiferous intrusive field, only seven kilometres north of Legend's holdings. Past indicator mineral sampling by Ashton and Rio Tinto has recovered macrodiamonds, microdiamonds and chromite indicator minerals with no primary source yet determined.
The Glyde River is in the Batten Trough and hosts 40 kilometres of alluvial gravels sourced from numerous diamond bearing catchments including the entire Merlin diamond field. The pipes in the Merlin field are located on the eastern shoulder of the Battern Trough only six kilometres east of the Emu Fault. They have intruded the Cambrian Bukalara sandstone and were emplaced around the time of the Alice Springs Orogeny.
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