Regarding your question on phosphates.

The worlds demand for phosphates has grown rapidly. This extra demand has caused the price on the world market to soar. Phosphates are actually abundant in many areas around the world. In fact Morocco is sitting on unusually large raw phosphate deposits. However, it can take a few years to tap into these resources and get them moving to market. Legend is much better positioned than another half a dozen or so young companies to begin moving their deposits to market. They also have a client signed up to take nearly 75% of what they will able to produce. IFFCO may even up their take to 100%. Legends proposed cost per ton at the port is said to reach $50. per ton. As such the price of phosphates only needs to sustain itself above $200 per ton or so for Legend to be quite a profitable company. However, if the new watermark for phosphates remains at $400 per ton or more, we will find the kind of valuation for the company that we have all been hoping for.

To the moon ...