If LEG was a dog before it moved into IGO with its cash. The resource crashing down to the ground provided a excellent chance for LEG management team to prove they could turn a dog into the swan.
They were brave when the whole market were extremely fearful. They hold enough cash for the worst and put all of the excessive cash into a swan, IGO at its lowest price. Its IGO investment would provide valuable cash blood in dividend which would be sure LEG could go through the crisis without any questions.
Without worrying about the survival, its management team could focus on new chances and get more from what it has got in the resource sector. No one really know what is waiting for the explorer, but IGO moves much better than anyone's expectation. Today IGO price is $3.56 which is more than 2 times LEG paid($1.46 around).
LEG Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
