Developing phosphate interests in the Georgina Basin, Queensland, Australia

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posted on Jul 29, 2008 10:49AM

I think it is a good question but I don't believe it is a problem. I know there is a worldwide credit squeeze but unless banks have given up, shut up shop and have taken to selling ice cream, there are some deals which are just too good to pass up. Legend have a proven asset. They have a world respected customer who is so committed to them, that it is becoming a shareholder in the company. Besides they have the ability to pay back the loan in one year's trading! Not financing this would be like a bank not giving a mortgage to a guy who shows that not only can he repay it, he can do so in 12 months. Everybody keep breathing, check the price once a week and relax....

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