The rock is only valuable if you can get it out of the ground and sell if for a profit. The same is true for any mineral that's mined whether it's gold, silver, or copper. Sure, there's value as a resource in the ground, but the real profit is in selling the asset.

I'm just assuming this, but regardless if Legend, the Company, goes under I'm sure Joe G. still has control of the phosphate assets of the company, so he doesn't lose. Our shares go to zero, dry up and blow away, but he can still sell the assets in the ground to somebody after we're gone. I would even guess that at some point in the future he could even take the phosphate assets public again if Legend is a distant memory.