Mick, Legend haven't been going up at all for the last year, they have been flat all year (50c-73c range)until the price rise in the second week of September which I read was aligned with the Paradise North DSO ann of 24th September.
Legend also don't have a JORC, or any other standard, resource as yet for Paradise North. The ann states that it's probably more than the 1 million tonnes at D-Tree, which is not a whole lot in comparison to Arruwurra though.
Their previously stated estimated Capex for a DSO operation is $10-15m....is this Joe being a bit too optimistic? My view too is that Joe Gutnnick is a pretty good salesman. Lets see how it pans out.
Legend intend to float on the ASX in March next year. Wonder what the differential on sp will be by then, but I know what I'd be buying now if Legend was already on the ASX.
AEV Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
