Project Strategy

Legend International Holdings Inc (Legend) has revised its project strategy due to the current financial and economic climate. The strategy aims to deliver positive operational cash flow as soon as possible with little capital outlay and the ability to pay for any required infrastructure from this cash flow. To achieve this aim a three stage approach has been adopted:

• Stage 1 – To focus on drilling near surface, high grade phosphate ore to delineate tonnage of direct shipping grade material that requires little or no beneficiation to export phosphate rock from the D-Tree phosphate deposit by the 4th quarter of 2009.
• Stage 2 – Ramp up export of phosphate rock to 5 MT by 2012 beginning at the end of 4th quarter 2009, sourced from a combination of either Lady Annie, D-Tree, Lady Jane, Lily & Sherrin Creek or any other phosphate deposits of which Legend has an interest.
• Stage 3 – Production of value added phosphate fertiliser products such as phosphoric acid, MAP, DAP and TSP.

Previously Legend was conducting a study with GHD to investigate the option of using a slurry pipeline to transport beneficiated product to the Port of Karumba. This option has now been abandoned due to high cost and port logistics. The transport option now considered feasible is via rail from Mt. Isa to the Port of Townsville.

I guess this was worth the wait people!!!