If Legend can begin selling rock before the plants are completed, they will have a steady cash flow. Having a cash flow will define LGDI as a viable business.

"Given current high prices being received for phosphate rock (approx. US$200/t cfr India) and the potentially smaller development lead time involved in producing phosphate rock, both rock and value added products is a viable development route."

To me this sentence was the most meaningful update in the announcement.