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LGDI mining worth a look

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August 29, 2009 – Comments (16)

I mentioned this stock in another thread but I like it enough to post a separate blog.  Basically this is an Australian mining stock that is starting up as mainly phosphate rock mining to use as fertilizer. This is basically a 4-5 year hold.  The mines are in place. The permits are being issued.  The transportation is in line.  The company expects to start producing 500,000 tonnes and to expand ultimately to 5 million tonnes.  Here is the link to the company's homepage:

http://www.google.com/url?sa=t&source=web&ct=res&cd=3&url=http%3A%2F%2Fwww.lgdi.net%2F&ei=BbCYSoSMDtyL8QbVpPjFAQ&usg=AFQjCNEw1eHUVBlSIEgqookVXaZCasuvZw

Of particular interest is the listing of major stock holders, Soros holdings being one of them.  The stock seems locked in at .61 give or take half a penny.  A good til cancelled order at .61 should work.  Buy it and put it in the vault for a few years. While there might be pricing pressure on fertilizer stocks short term, long term I submit they will outperform since food will always be in demand as the world population continues to grow.

16 Comments – Post Your Own

#1) On September 12, 2009 at 9:00 PM, topsecret09 (40.64) wrote:

  In the last three trading days,Insiders and Investors have purchased over 2 million shares of LEGEND INT'L HOLDINGS (LGDI) Soros has purchased about 9 % to date. Legend has 100 million In cash,and zero debt. I have been accumulating shares recently,and If their Initial phosphate estimates prove even close to correct,this company could earn In the BILLIONS by mid 2012 to early 2013....   http://www.lgdi.net/

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#2) On September 12, 2009 at 9:08 PM, topsecret09 (40.64) wrote:

 Average purchase price for all recent shares Is 60 cents....  Company may be starting to get noticed, volume is picking up TS

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#3) On September 16, 2009 at 12:17 AM, awallejr (82.99) wrote:

Once it actually begins to produce I would think you will see movement on the stock, although from a percentage point of view it is up 4%. It takes time to get mines like these up and running, and LGDI is pretty far along in the process now.  I also like its proximity to India and China. Is it a gamble? Yeah, sure.  But Potash (POT) was a penny stock one time too.

I have real money on this one.

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#4) On September 16, 2009 at 12:27 AM, topsecret09 (40.64) wrote:

  Awall...  I have bought 6,000 shares at 63 cents.  I will probably buy more....  I usually would not put this much money Into a "penny",but I think this one's risk / reward Is worth It. It has great support on the charts In the area It Is trading at,volume Is Increasing,and Insiders are buying. This could be the real deal TS

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#5) On September 18, 2009 at 2:03 PM, irishred1 (< 20) wrote:

I bought 10k  shares at 0.70 thanks to randomly seeing you guys posting this up here (after doing research of course).  Preciate the tip!

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#6) On October 02, 2009 at 3:45 PM, peachberrytea (72.94) wrote:

does anyone know where LGDI is going to get financing for the ~$800mil or so they need to develop their mine?

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#7) On October 29, 2009 at 5:17 PM, profittkr (< 20) wrote:

Too bad the insiders are suddenly selling 42 mill shares. Anybody know what's going on? Time to bail.

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#8) On October 29, 2009 at 6:46 PM, topsecret09 (40.64) wrote:

#7) On October 29, 2009 at 5:17 PM, profittkr (< 20) wrote:

Too bad the insiders are suddenly selling 42 mill shares. Anybody know what's going on? Time to bail.     Where did you see this ??

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#9) On October 29, 2009 at 7:01 PM, profittkr (< 20) wrote:

Announced 10/7, 10K actually filed 10/28 according to the Schwab Research tab.

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#10) On October 29, 2009 at 7:02 PM, topsecret09 (40.64) wrote:

  I see no Insider sales registered with the SEC.....  TS

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#11) On October 29, 2009 at 7:04 PM, topsecret09 (40.64) wrote:

#9) On October 29, 2009 at 7:01 PM, profittkr (< 20) wrote:

Announced 10/7, 10K actually filed 10/28 according to the Schwab Research tab.    Can you provide a link ?

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#12) On October 29, 2009 at 7:44 PM, topsecret09 (40.64) wrote:

    Found It....  Here It Is........  What do you think Awall ?http://www.sec.gov/Archives/edgar/data/1132143/000115752309007295/a6083734.htm#security

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#13) On October 30, 2009 at 12:03 AM, topsecret09 (40.64) wrote:

 ) On October 29, 2009 at 7:44 PM, topsecret09 (43.02) wrote:    Found It....  Here It Is........  What do you think Awall ?    I emailed Mr. Michael because there was some confusion among fools.....  This Is a NON-EVENT. This Is just an annual update to the 2008 prospectus that covered Institutional participation In that stock offering. This Is an annual requirement from the SEC. No one Is selling any stock..   TS

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#14) On October 30, 2009 at 12:21 AM, aussieguy73160 (26.88) wrote:

The Gutnick referred to is Joesph Gutnick? aka Diamond Joe Gutnick- Great Central Mines.

Diamond Joe has a history of the Midas touch, but he also has the down side of that story as well. Research 1980's-2k on Diamond Joe, I'd start searching an Aussie news site- theage.com.au- he has an intersting history.

:-)

 

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#15) On October 30, 2009 at 11:10 AM, profittkr (< 20) wrote:

Very confusing, folks. Thanks for the info Aussieguy. The LGDI website lists Atticus as having major holdings while this clip from a Google search says they consolidated back to 5 positions this summer....none being LGDI 

http://www.marketfolly.com/2009/06/timothy-baraketts-atticus-capital.html

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#16) On December 22, 2009 at 6:55 PM, awallejr (82.99) wrote:

Profit take and sell half if you had listened to me.

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