When reading through the BMO research report, I was pleased to see how practical and down to earth their analysis was of Legend and Legends' prospects for the coming year.

When they set their target price at $2.50 it was based on a very conservative estimate for phosphate shipping targets and very little forward movement in the price of phosphate rock.

Most of us on this site have invested for the long haul and are not looking for hype. We all love good news, but we are looking for substantiated facts and true growth for the business.

That is why I felt that this report represents a set of achievable targets for the company and the industry that should be easily met during FY 2010, and will warrant a share price of $2.50

Of course, if the JORC report is above expectations, if the deal with Wengfu is finalized in a big way, if the price of phosphates soars ... we will be looking at many multiples of $2.50

This is a nice start to the New Year!