today's announcements have few important hints:
1. Legend keeps on buying in market by spending $1.1M for another 1.01% in last 17 tradings to 15/3, making up holdings to 50.03%
2. balance sheet at 31/12/09 showed a profit of $692,123.00 - figure is immaterial but there is an implied meaning the company is beginning a new era back to profitability,under GJ's reign.
3. announcement further said Kaye Pit will commence production trial. if Sino's forecasting is correct, it may add some 28,800 carats to its stock. (if my interpretation is correct, its market value will be around $5M).
4. Legend keeps on showing their genuine control and confidence in the company, they have no way to dispose their shares at this stage. by law, any selling or buying has to inform the market. they are now owning 1,139M shares. if one day (no one knows when it will come),sp becomes 0.48 (Sino's long term forecast), they only need to sell 33M at 0.48, then they can recover their $16M principal of investment. whereas the remaining 1,106M shares are free.
this may be their perfect plan!
will you agree?
will you have the patience and confidence?
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