The bad, the good and the unpredicatable status of Legends' stock price.

The following is nothing more than my observations and opinion, please feel free to share your comments.

If you read through the various press releases and news that was released today we find that IFFCO has received 100.5M dollars worth of options that range in price from $2.50 to $4.00 per share over the next two years. (Translation: Legend has absolutely no financial concerns while building out their production capacity)

We also find that Joe Gutnick sold IFFCO 15 Million shares privately at $1.87 in a showing of partnership. (Translation: IFFCO has become a major shareholder in the company and will be involved in the production planning and operations of the mine)

IFFCO has upped their offtake volume commitment from 3M tons per year to 4 Million Tons of Phosphate per year. (Translation: The deal just grew by 25% from previous press releases)

The price of those phosphates will be the current market price minus a 5% discount. (Translation: Not bad for a deal this size. I believe that the current market price is up near $1,000. per ton)

IFFCO will involve themselves at the board level and at the technical level in advsisng Legend on building the mine and slurry pipes ... (Translation: there is a new level of oversight in place at Legend that should make everyone more comfortable with the deal)

My Opinion: The market has not really moved yet this morning as people must be looking at the options prices or private sale price of shares to IFFCO, instead of looking at what has been confirmed.

The market should be looking at the fact that Legend has just sold their full capacity for production for the next ten plus years. At a price of $750. per ton that is 3 Billion dollars a year in revenue. If the price falls back to $450. per ton they will still be producing 1.8 Billion dollars per year. (This is huge!)

It shouldn't take more than a few days for the market to catch up with the reality that this stock should be trading at $7.00 plus per share and still have a solid growth path for the future.

What do you think? ...