Day traders raining on our parade

Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Phosphate King

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Day traders raining on our parade

posted on Mar 16, 2010 05:56PM

This morning's long awaited news release and 8K filing was exhilarating for those that are long on Legend, unfortunately the day traders made it rain on our parade, and held the stock to a 10% gain for the day.

The news about the Queensland Government reserving a 743 acre parcel for Wengfu to build its beneficiation and phosphoric acid plants was incredible. Wengfu's investment in those plants will range from 600 to 800M USD. The raw ingredient that Wengfu will need to justify building those plants is Phosphate. The source of all that phosphate is Legend.

We are talking about a world class operation consuming large quantities of phosphate for the next twenty years, or more.

In the mean time, IFFCO can begin offtaking the DSO phosphate and begin generating revenues for Legend this year and next.

Yes, it will take a few years for Wengfu to come on line, but those that are long on LGDI can truly begin dreaming of a pps of $10 to $20 within the next few years.