Lab tests will measure exact % of Fe. Field tests will always understate % Fe. For example, Leg reported 36% Fe at various depths. That exact % Fe will be around 40 to 42% once analysed at the lab. These results are not bad.
Legs best results were at around 100m at 36% Fe. They now have the capability to go deeper. Is there even higher grade Magnetite and possibly DSO deeper than 100m?
There is plenty of Magnetite there. Leg has less risk than SDL, lower start up costs and better management.
Dont forget that SDL management have taken their shareholders down a back alley and have mugged them. They ran away with the cash and you have been left holding the bag.
I get the feeling that 2012 might be the year of the Legend.
LEG Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
