Petrescu,

You make a very good point.

For a company in their financial position, with their proven phosphate deposits, and other tangible assets including their investment in NAD and pending spin off company, there are many funding / financing options open to them other than vastly diluting the stock.

Regardless of what anyone says about the management team, they are intelligent people with great street smarts, and they don't want to dilute their holdings any more than you want them to.

In the end this will work out to the advantage of the long term investors.

My only complaint is the way that Legend represents themselves publicly. They need a higher end Investor Relations / publicity firm to prepare and manage their image and public statements.

If they become more professional in this one area we will see a steadier stock with a measurable uptrend.

Still long & strong LGDI