It is sickening and scary - agreed. But yes we have to focus on the fundamentals which have not changed that much. We have a company with $127 million in cash and billions of dollars of phosphate currently on sale for just $85 million. I agree it is a tempting take private target for the larger shareholders. The same could be said at the moment for hundreds of beaten up stocks in every market. I dont believe however that the Legend shareholders are in such unison to make the move. They have different objectives. Soros sees a steal in the absurd share price. IFFCO see a billion tons of much needed phosphate. Besides the Gutnicks would leave themselves open to possible legal challenges and would blow any credibility in the stockmarket community for generations to come.

I have to hope that this global panic will subside sometime in the next year and that Legend is in pretty good shape to weather the storm. Once the market gets back to pricing potential not panic the price has to rebound. Meantime it could go lower and bounce around a bit while more holders particularly those who entered at 25 cent feel the need to unwind. Perhaps we should do like the phosphate - just lie there and wait.