Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: NCRC

NCRC

posted on Nov 12, 2009 08:32AM

Just to clarify, I am not questioning the integrity of Joe G at all. If I or any other shareholders have any doubts about his integrity ,we could simply choose to not be shareholders and sell your stock.

I was just curious as to what NCRC is and what it contains.Legend invested almost $A10 million in it which is a nice chunk of money and a good percenage of our cash on hand. I was also confused when it said in the 10Q that the company(legend) has not been provided with current financial information by NCRC in order to make an assessment on the fair value of the assets of NCRC. Legend owns 21.3% of NCRC so it would be nice to know what exactly we own. If it was a public company we could read the filings and find out for ourselves, as was the case with the purchase of 55% of North Australian Diamonds Ltd (NADL), which by the way looks like a GREAT investment at the current price NAD is trading at. Joe G gets all the credit for that one!

I'm sure eventually we will find out the info on NCRC and i'm sure it will be another wise Joe G investment!!

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