I went back and checked out the news archives for March 16, 2010 on the company website. The last milestone in that PR states that LGDI intends on spinning out to a new company the diamond, gold, and base metal interests of Legend, making LGDI a 100% phosphate company.

The very next PR on May 10, 2010 says that they set a record date of June 4, 2010 for the new Delaware company. So, that tells me this supposed newly spun off company would have been a U.S. based entity, as is LGDI. NAD is traded on the ASX, so unless they lumped in NAD along with all the other non-phosphate assets of Legend at the time of this supposed spin off, then who knows. I do seem to recall that Mordi said NAD was going to be part of the package.

Of course, the big thing is there's not a damn word been said about what's going on with the U.S. spin off or the other assets since then, so who the hell knows what's going to happen with that. Hopefully they stick to their word and it eventually gets done.