Legend International Holdings, Inc

The company currently holds an initial Australian JORC code compliant Inferred Mineral Resource Estimate for a partial area of Paradise South which has been completed and reports a total of 72 million tonnes @ 17% P2O5 at a minimum cut off grade of 12% P2O5.

about 12 years ago

in response to jalbiglog's message

Slager will own 47mm out of 249mm shares (18.9%), nearly equal to the shares owned by Gutnick's family trust, although Gutnick also controls the Chabad shares, so his total is actually 48.8mm + 19.9mm = 68.7mm (27.6%). If you add Slager (Regals) plus Soros, the total is a little over 70mm shares, so the two of them can theoretically outvote Gutnick now.

It is interesting that Slager is adding to his investment. He obviously knows what is going on and is in direct contact with management. He's not a stupid guy at all (nor is Soros, obviously), and he knows what Gutnick is up to, so I have to view it as a positive sign. It's not like I will run out and buy more shares, but at least it breathes some new life into the company and gives it a little more time to pull off a miracle. LGDI shares are essentially OTM calls on such a miracle, and the expiration date on those calls has just been extended a few more months.