I like the positive attitude and like I said earlier - legacy has a lot of potential. I was even in the top 10 holders some time back .. But The Australia-India Comprehensive Economic Cooperation Agreement (CECA) first started negotiations in May 2011 .. So these are now up to there 9th round of negotiations and the legacy share price has dropped from around 19c( mid 2011) to lows of 0.003c this year. . So who knows how much longer negotiations will take... That's IF they come to an agreement .. And even then why would nmdc start up a multi billion dollar empire in australia when they could set something up in Brazil( who have plenty of iron ore ) or some other developing country for far less... Nmdc didn't develop into the company they are today by paying their workers $200,000 a year like australia. Im realy not trying to be overly negative as I realise people have there hard earned money in this stock but I just think people should realy do their research on this company and weigh up the probabilities of legacy realy taking off considering the current economic crisis in the mining sector. I might look at legacy again towards the end of next year depending on iron ore price and share price and a few other factors. I genuinely hope I'm wrong and everyone gets rich from lcy, but when I think logically- I just can't see it happening any time soon. This is all in my opinion and I'm certainly interested in some more opinions?
Good luck to all. Especially the long term holders
LCY Price at posting:
0.4¢ Sentiment: None Disclosure: Held
