The following article published by Bloomberg highlights the potential opportunity in store for Legend through its nearly finalized relationship with Wengfu.

The full article may be found by using the attached link.

Billionaires in the Outback

http://www.bloomberg.com/news/marketsmag/mm_0510_story3.html

China is investing in small Australian mining companies, creating a class of superrich entrepreneurs.

By William Mellor
Bloomberg Markets, May 2010

Zeljko Zaic, a leathery-skinned surveyor at a Chinese- backed mining company, stands atop a sun-scorched ridge in the Australian Outback and kicks a lump of red iron ore lying on the trail.

“One day soon this will be part of someone’s house in China,” he says.

In only five months, this 1,900-square-kilometer (734- square-mile) stretch of semidesert and salt lakes in the midwestern region of Western Australia has been transformed from a desolate habitat for kangaroos and bush flies into a base for the next wave of the nation’s mining boom, Bloomberg Markets reports in its May issue. Below the 80-meter-high (260-foot- high) ridge, Australia’s Gindalbie Metals Ltd. has joined with China’s Anshan Iron & Steel Group to build a A$1.8 billion ($1.65 billion) iron ore mine. The project includes a nine-story processing plant, a township of air-conditioned homes and a pub, restaurant and cricket pitch for 1,500 workers.

Fueled by China’s appetite for minerals, about 50 publicly traded mining companies, many with market caps of less than A$2 billion, are spreading out mostly in Western Australia, a region four times the size of Texas with a population of just 2.2 million. Chinese investors, mainly state-owned steelmakers, have funded at least 20 of these outfits as part of Beijing’s move to reduce its dependence on Melbourne-based BHP Billiton Ltd., the world’s biggest miner, and Rio Tinto Group, the No. 2 iron ore exporter.

15-Fold Jump

The shares of eight Chinese-backed iron ore companies skyrocketed as much as 15-fold from 2005 to 2010, turning a handful of entrepreneurs into actual or aspiring billionaires.

“It’s been life changing for some of these people,” says Tim Schroeders, who helps manage $1 billion, including mining shares, at Pengana Capital Ltd. in Melbourne. “It would have been a pipe dream 10 years ago to think you could compete with the world’s biggest mining companies.”

Long & Strong LGDI

PK