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Here's a link to last night's interview with Legend PM Ed Walker as well (2nd audio link).....good info...
Recent news.....looks like community forums have commenced as well to discuss the project....news of financing soon to come? By Karyn Wilson and David Lewis Legend International Holdings wants to build the plant to process ore from its phosphate deposits north of the city. Property owner Elwyn Walden voiced his opposition to the idea at the company's first community consultation meeting last night. He says he is considering selling his land. "I was looking at spending the next 28 years here until I retire," he said. "I turn 40 tomorrow. I'll probably have to move in the next four years, the way they're doing it. "One of the things they told us with the noise pollution is that we have to double glaze our own windows and our own house. We can't go outside and enjoy the wildlife or anything like that. "My main question is, will my kids, niece and nephews be safe playing there? "They could not answer me. They would not live there was the answer I got. "So therefore I have to think that their $6 million to shift it [the fertiliser plant] to another location is worth more than young people's lives." Project manager Ed Walker says the company is keen to address community concerns. "Look, I think the people of Mount Isa are very passionate and we welcome that," he said. "We look forward to talking to them more regularly and we look forward to discussing through the issues about this proposed project." Mr Walker says the proposal is environmentally sound. "We've undertaken a lot of studies both for water, air, noise, groundwater to assess the impact of our project in respect to that particular site," he said.
Landholder may sell up over fertiliser plant
Excerpt concerning Legend and Rail Transport....
http://www.logisticsmagazine.com.au/Article/In-for-the-long-haul/493069.aspx
Ken Lewsey says one of the major bulk freight opportunities for QR was on the North West Corridor of Queensland between Townsville and Mount Isa, where QR has been operating since 1929.
“ARG is formally taking over this line, bringing its operational, technical and commercial expertise to an area which hosts some of the world’s largest deposits of base metals and other minerals,” he says.
“Before the global downturn, mineral production in this region was forecast to double and even allowing for the current environment it remains highly prospective.
“Growth looks especially strong in the non-traditional commodities of phosphate and Further information: Garry West QR Corporate Affairs Ph: 07 3235 7725 0418 359 672
“With a proven operating model adapted to the needs of commercial bulk freight business ARG will ensure QR is the competitive force it needs to be on this corridor and is able to leverage off this growth.”
A growth opportunity being pursued by QR is with Legend International which plans to export phosphate rock via the Mount Isa to Townsville rail network.
“Legend is developing a five million tonnes per year phosphate rock mine based on the Georgina and McArthur Basins in Queensland which some of the largest undeveloped phosphate deposits in the world,” Mr Lewsey said. “Legend is working closely with both QR and ARG towards finalising a solution.
“QR has recently produced the Mount Isa – Townsville Rail Infrastructure Master Plan which describes how increased capacity will be achieved on this section of the network.”
First off let me say myself and my colleagues greatly appreciate all of the excellent info and research from everyone on this board.
I'm a long time follower, first time poster. My question is concerning valuation. I've read the BMO report that was posted Nov 17, 2008, and they valued Legend at approx $3.09 per share using current spot prices at the time of the report.
I'd like know what kind of share price forecast (5 year) the members on this board foresee. Personally I'm looking at approx $10-12 USD by 2013.
In the meantime, I will keep accumulating with every paycheck.
Cheers!