NORTH AUSTRALIAN DIAMONDS LTD is making us money also!

Developing phosphate interests in the Georgina Basin, Queensland, Australia

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bigphos

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NORTH AUSTRALIAN DIAMONDS LTD is making us money also!

posted on Nov 06, 2009 02:27PM

As of August 6, 2009 (close of offer), the Company(LGDI) held 55% of the issued and outstanding shares of NADL for a total cost of A$11.6 million (approx. US$9.3 million)

Today NADL closed at A.065 cents,a new high for the year, up 16% on huge volume with no news. Our initial investment of A$11.6 million is now worth approximately A$71 Million, a paper profit of almost A$60 million dollars or US$55 million dollars.

Based on 226 million shares outstanding for Legend, this comes to approx. US 25 cents share for Legend shareholders!!

(Also, Legend reports in Australian dollars which is doing way better than the USD.)

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