Coxos, thanks for your posting. That note from Scotiabank confirms what I have been reading and hearing from people in the industry regarding the market price for fertilizers which includes potash and phosphates.

1. Inventory Depletion - it appears that there may have been some world wide collusion in 2009 to drive down fertilizer prices by depleting inventories and reducing demand for fertilizers in the world market. This worked as buyers have driven the prices way down. However, they now need to source new contracts for large quantities and we will absolutely see a rebound in prices starting in Q4 and driving into 2010. This timing matches up quite well with legends time line to begin shipping, and should result in larger margins for LGDI.

2. Pent Up Demand - Looking ahead to 2010 the world wide demand is looking strong and the competition among buyers, along with previously depleted inventories will work in Legends' favor.

3. Analyst attention - We need Legend to begin an analyst tour to gain additional coverage of LGDI. If they schedule a public relations marketing campaign to coincide with the pent up demand and raising prices/margins that is soon to begin, we can see LGDI going back to its previous highs and moving to a stronger exchange.

Good luck to all!