major phosphate drilling plans by legend

Legend released its quarterly report in the USA this morning. They have cash of $13.8 million. $5,000,000 planned for drilling and feasibility studies over the next twelve months. IF results are positive the size of the drill programs will be stepped UP.

As I said before IMHO we can expect a very active program to take place on the GCR tenements and this will happen quite soon. In fact a detailed agreement between Legend and GCR is due which should include details on drill programs, budgets etc. Details known to date include (1) Legend will at its own expense assay all samples for uranium at its own cost (they obviously will do phosphate) (2) IF GCR wants to assay for other minerals of interest then they can assay at their own expense (3) mine plans may include other minerals good luck to all longs