Great post!! One thing to remember is the capex is going to be low and come out of there profits. From a repost I did a while back ago from there NR!!!! So no need for dilution!!!!!!!!!!!!!........Golnsil

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.