This article was just posted on The OTC Investor

It is quite Bullish!

Investors Remain Bullish on Legend

Despite the difficult economic environment, Legend International plans on hiring 1,000 employees to open its new mine. Operations are slated to begin in the third quarter of this year as phosphate prices have increased from $100 per ton in December 2007 to $250 per ton today. Meanwhile, fertilizer remains in strong demand from farmers looking to increase production to meet higher demand.

The first five tons of phosphates is slated for India, where the price of the commodity is fixed by the government. However, this is also good news for investors, who can look forward to steady supply and demand in a market that has proven to be quite volatile. Meanwhile, Incitec Pivot, Australia’s largest fertilizer company, also mines phosphate near Mt. Isa and produces fertilizer.

Legend International is an exploration-stage mining and agriculture resource development company. The company is principally focused on developing its phosphate deposits in the Georgina Basin of Queensland, Australia. The Legend landholdings, prospective for phosphate, diamonds and base metals, covers 40,525 square acres in Queensland and 4.7 million square acres in the Northern Territory.