I haven't been actively following LGDI in a long while. Where's the hole in the bucket? Are we headed straight downhill until a partnership is announced? Some great news is announced and we get zero reaction with $15K total worth of shares over 2 days? EIther way, Alcoa is great but we need something beyond another MOU.

Meanwhile...WOW!

http://video.cnbc.com/gallery/?video=3000042694

http://video.cnbc.com/gallery/?video=3000042755

Looks like QE3 is coming to the financial theater very very soon. This will really have a very definite impact on commodities.

I'm hoping Legend stays near $.6 range for the next 2-3 months or so, the time I need to secure some more cash! Thats about the time needed for the development application. It doesn't seem unreasonable to assume a large investment or partnership won't be announced until the Quuensland indicated approval or the process is close to completion. (I spend all my funds recently on farmland stocks and some long dated homebuilder options, which were also very cheaply priced)

Interesting interview with Zoellic, world bank president, on CNBC today....Provides a good overview of causes of rising food prices. Sees a lot of investment and recommends increasing farming productivity and stocks for poor & developing countries.

http://www.bloomberg.com/video/68688454/

Wow....I have to say its amazing to me how the "market" isn't responding to this. Starting this process towards obtaining a land use / development approval is a _HUGE_ achievement and will be a great setup to finalize funding. This is the biggest step to getting "it" done. If they obtain approval, its a huge deal and everything beyond that will be downhill. This is no longer some potential scam/pipe dream, this is definately progress.

By the end of the year, if they can secure funding, they could be ready to build. To anyone interested, here is how the Queensland application building process works. (Gt the info from local Queensland website...very similar to process in any city here in the US)

From the Queensland site: http://www.dlgp.qld.gov.au/resources/laws/integrated-planning-act/IDASflowchart8.pdf

1. before submitting, LGDI meets with local government officials and also holds public hearing to inform of proposed development (DONE)

2. submit Development Application (DONE)

3. COMPLETENESS CHECK: gov. assesment manager reviews application to ensure it is complete (20 business days...ongoing). If deemed complete, go to step 4, if not complete, they will request additional studies/info. which could add about 1 - 1.5 months)

4. PUBLIC NOTICE: Assesment Manager send out official notice of application to neighbors. Concerned neighbords will send him their complaints (or praise/support). (2 months)

5. Assesment manager reviews the application to determine if it complies with local zoning codes. He/she gets input from water/envir/planning/waste/transporation bureaus. He/she will also take into account the neighbors' complaints if submitted (sounds like there will be a few) but only if they address how development does not meet intent of local codes or prescribed requirements. (1 month). If approved, go to 6. I'm 99.999% sure they will get approval since use is allowed in zoning code. Worst case is there will be some conditions applied to the approval with a price tag (limit noise, spend some money to improve right roads near development, additional environmental compliances, etc)

6. Send approval notice. LGDI officially records decision. Approval means they have the RIGHT to build the fertilizer complex. (1 week) If LGDI has funding in place, go to next step.

7. LGDI prepares building permit application. This could take a few month ...3-6 months. If LGDI is smart, since development approval is pretty sure IMO, they could start permit application material while waiting for the development app. process. (I hope someone from the company is reading this)

8. Permit Review. I'm sure this will be fast track so I'm estimating about 2 months.

9. Construction. ~6 months, maybe even a little faster if phased.

10. OPERATIONAL....By now I better see double digits!

So add a contingency of 1 month to each process and then factor in some potential fundraising delays.

This is excellent news!!

Jalbiglog,

I'm involved in the building industry and it sounds like Legend does not have any hurdles facing them in getting the development approved.

Development application in March is I believe for land use/zoning approval. The site is zoned industrial so the use proposed by Legend for the fertilizer plant is an outright allowed use, its in the bag. People can complain but this is approvable since it meets the local zoning code. They are required to hold public meetings to inform neighbors of development. To prevent the development the locals would need to appeal not the LGDI project but the local zoning code itself and that is very!!! expensive & lengthy process so not likely at all especially considering local government support with all the job creation. A lot of times miners will need to get a conditional use or apply for change in zoning to get a pant through.

Key elements of this LUR application is getting water use & transportation approved. Transportation will increase trip counts but they meet this by doing some additional development near the site (new lanes, shoulders, etc) or by paying into the dept of transp. fund to improve crossings etc. Can't really comment on water use rights since its a local issue. They might be imposed limits on groundwater or aboveground water usage.

They will still need to apply for actual building permit a couple years down the road. This will be a much quicker and straightforward process and not as important as the land use/zoning approval. For building permit, they will use most likely use pre-engineered metal buildings which means very quick preparation of permit/construction drawings, quick review time, and very quick construction time. The fabricator literally punches in some dimensions for the building and prints the drawings 4 weeks later, 1-2 months review time at the city, and the fabricator literally prints the actual structural parts (automatic cutting) some fab, then gets delivered to site and the parts are assembled in just a couple weeks.

The other very key process will be environmantal approvals.

Planning, permitting, & set-up is what takes time. Once everything is in place the rest will be a blink of an eye. Its amazing to me how the market is undervaluing this. I think its because this interview/story is in a local AU paper not Forbes or CNBC.

If any rational person really believed there was a 60% or greater chance that LGDI would reach $.43, he or she would sell short.

Beware of anyone who gives you advice on what you should do with your money without risking anything themselves.

Its too easy for someone to have an "opinion" if they won't be impacted by the true future outcome.

Great find investnc!

10 potential target buyers identified. I could use some good news, gold is killing me this week.