some interesting forecast

on 10 nov 09 Sino issued a broker report forecasting NAD's NPV long term target to 0.48 with a resources of 5.47M carats, which equates to A$174 per carats.
with that assumption, Legend's investment has a gross book value of $523M, on their 55% holdings in NAD.
on 4 dec 09 two placements done for a total of 13.66M to Sino's clients and Attara funds, thus diluting Legend's investment to 47.83%
Legend subsequently spent $1.33M, bought 1.19% in market to 49.02%.
on 22/2 reserves increased to 6.18M carats.
again, using $174 per carats, the reserves worth $1,075M,
putting Legend's investment back to $527M.
based on past announcements, Legend roughly spent around $15M for their 49.02% holdings.
if the estimated $527M comes true, it will be an amazing return of 35 times!
every big investment has a budget and plan.
now Legend is fully in control of the company, every move they make presumably be sensible ,according to plan
and in the benefits of shareholder.
let time tells when they will turn their plan into reality.