Looks like most of you guys are jumping the gun and massively...

Looks like most of you guys are jumping the gun and massively overreacting.

Chill out and wait for some news from the Co.

The best thing that Sharon could do now is to put us in a T/H tomorrow morning.

Like I've said in one of my previous posts, I have a feeling that the offer is part cash and part something else.

Read this article:

Legacy's rock phosphate deposits in Wonarah is Australia's largest known undeveloped phosphate rocks and the acquisition will help secure supplies of a critical raw material for the Indian fertiliser industry, NMDC said in its stock exchange filing.?

http://www.domain-b.com/industry/Mining/20110913_legacy_iron_ore.html

The way I see it, is that NMDC is paying us a portion in cash (say $30M-$40M) and possibly paying for the phosphate deposit that MAK owns.

We all know that NMDC had been dealing with MAK from the same time that they started dealings with LCY. We also know that NMDC is buying into LCY so it would have a vehicle for all their purchases in Australia.

The above article makes perfect sense to me.

Let's just sit tight and see what tomorrow brings.