down-leg ?? attn madmacs, page-8

re: ****green with envy**** Osheab,

I do wish you would come up with the correct data.

You already had one wrong; how about this one:

"It is convienent that the SP has been rising to these levels as a script issue for the final payment on 31/3/2004 would of course be prefferable for LEG management.....hmmmmmm".

Comment:
One million dollars has ben set aside in scrip and that is 16.67 mill shares at 6 cents. That doesn't change at all regardless of the share price.

The second thing you got wrong is that the shares have already been paid:


24 Febr:
"Legend wishes to advise that Westpac Institutional Bank has become the company’s bankers.
Westpac has agreed subject to final documentation to provide the following facilities:
• Bond Facility – Replacement of the $2,057,000 Gidgee Gold Project performance
bond.
• Provide a 25,000 ounce gold hedging facility for production from the Gidgee Mine.
• Provide a revolving working capital facility of $500,000.

Replacement of the performance bond was a significant part of the consideration for the
acquisition of the Gidgee Gold Mine from Abelle Limited.

When completed this transaction has the effect that Legend has now paid in cash and shares approximately $5m of the $6.5m total purchase price.

________________________________________

Gerry