Legend International Holdings (LGDI.OB)
Recs
on track to be producing 5MT of phosphate rock in late 2010 putting on 3x gross 2010 earning based on their base case phosphate rock price forecast of $300T. With current prices of $400+ they could well exceed that. Offtake agreement with IFFCO to suppl a minimum 3MT pa derisks the company significantly. Risks are increasing cost pressures for labour and construction material above that budgeted & of course the phosphate price.
Recs
NIce breakout yesterday. Phosphate has been in a bit of a boom so this one may go along for the ride.
Recs
They've just hit a big deal with an Indian company for the supply of phosphate for fertilizer. This company is no longer speculative its for real. Buy now before its too late.
Recs
Just entered long term contract to supply phosphate to India's largest fertilizer cooperative.

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