Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: agriculture in a slump

This Euro crisis is worse than I ever anticipated. Take a look at MON or POT. Broke nearly 2 year bottom technical support. Citigroup just joined a few other analysts and cut MON's estimates.

Meanwhile Legend is still bouncing off of $1.00. A lot of shares trading hands in the $1-$1.1 range. Either someone is trying to get rid of a position or trying to build up a big stake. I sold out my MON and have some cash now...I might buy more Legend shares if it stays at 1.05.

I'd be curious to look at other partnerships that Wengfu (or any other large chinese agri company) has completed...to see how it impacted share price & if they caused dillution. I'm thinking they will probably announce any equity stake at the same time as the preliminary report. This is starting to feel like an 80s sitcom...stay tuned next episode (end of June) to see how it turns out.

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