Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: bear market, bull market

It wouldn't be the end of the world if IFFCO sold it's entire stake in Legend to Wengfu in a private transaction. IFFCO could always stay on as a big end user of our phosphate rock when prices justify shipping rock to them.

Just a thought ,as I keeping thinking that Wengfu's feasiblity study looks like it is leaning towards building phosphoric acid and other types of plants. That might not allign into IFFCO's game plan as all it wants is our high grade phosphate rock shipped to them.

Also, that would allow Wengfu to get a nice equity stake without dilution.

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