Fosfate,

Due to the age of the historical data regarding the phosphate deposits that information is nothing more than information.

By performing the fresh drilling and revalidating the original results Legend will be able to assign value to the phosphates and call them reserves, therefore putting billions of dollars on their balance sheets.

It basically upgrades them from being prospecters to being miners with proven deposits. It should put the company valuation up in the Billions of dollars when completed.

Why this news caused further selling of the stock is beyond me. Any ideas?