way undervalued?? i sense more activity soon!

Key Company Points:
Cash of $20m and hard assets (camp and machinery up north aus) worth around $10m

Market cap of $50m - valuing Cameroon at $20mish

Global demand for iron ore is growing exponentially

~4000km2 of land holding prospective for iron ore with a potential to host 10+ billion tonnes of Iron ore.

Direct project access to heavy haulage rail that leads to the port of Douala

Rock chip samples have shown Fe mineralisation of 65% and potential for DSO

An aeromagnetic Survey has been completed and shows an enormity of Fe mineralisation. This was tested with XRF samples that showed Fe grading up to 68%

Drilling is to recommence around Mid November 2010 and the initial target is to find 50mt of DSO iron ore

Skilled Directors and management team covering all areas needed to make Legend Mining Ltd a successful company including; Geology, Engineering and Finance (stock broking/project funding)

Legend can foresee the possibility of starting a 2mt per annum operation without going to the market for further funds ? once again this highlights the strong infrastructure and cash position

Look at other west african Iron Ore players in terms of Market cap and capex required; CFE, DMM (now in Stirling), Core Mining (private company), SDL, EQX
---Legend has a rail to port on our doorstep significantly reducing capex. any DSO and this is in production within 18months easy!

Legend has all the boxes ticked with getting ore to market - any decent drill results and this is a $500m+ company and will be looked at very seriously by big players, RIO, BHP, India and Chinese.




SO VERY CHEAP