YonnyA copy of your post from last month. well done spot onhow...

Yonny

A copy of your post from last month. well done spot on

how is this so cheap - here are my figures - tell me if I have missed something??

if all options are converted - and that is more than likely

282 500 000 options at 0.04c each = $11 468 080
cash in bank already = $6 859 000
this will give them cash in excess of $18.3 mill

with just over 1.2 billion shares on issue, that means a cash backing of 1.5 cents per share

The in-speccie distribution is basically tax free, no cost shares distributed to shareholders. Current Apex (axm) price of approx $1 times the 34 million shares given out (divided by the Legend shares) means another 2.8 cents per share.

I buy Legend at about 8c and have an effective cash backing of 1.5 cents and the share only really costs me 5.2 cents per share (8c - 2.8c)

Now, Legend also has some great land that is about to be drilled (fully funded for an extended period of time) and I reckon that they will get some results just before the in-speccie distribution in order to support the share price once this has been finalised

I guess what I am thinking is - downside is minimal with huge upside potential

10c within 3 weeks is my estimation - remember this post

Regards

Charvan