Despite all attempts of Legend International Holdings, Inc. (OTC:LGDI) stock to go ahead and upward in unison with the new company’s strategy, its performance still remains a tango dance.
The often released updates on the mineral project were up to yesterday not able to convince investors that it is time to change the downward LGDI stock direction.
Yesterday, LGDI shares made the second step of the reversed tango dance. Instead of two forwards and one back step, LGDI stock pulls back twice and goes up once.
Following the lasting almost all year downward direction, at the beginning of today’s session the price is further plunging back.
Yesterday, in its latest presentation of the Paradise Phosphate feasibility study, the company presented the change of its strategy. There, LGDI states that a move from a lower value rock producer to a higher value complex fertilizer producer is planned.[BANNER]
Unfortunately, such kind of transitions are related with time lines and execution of implementation plans, in addition to financial resources availability.
Up to now, as stated in the last company’s SEC filing, LGDI and Chinese Wengfu are conducting only investigations. That investigations will culminate in the Feasibility Expansion Study, due for completion by the end of this year’s Quarter 3. Reporting of Ore Reserves for the Paradise deposit is planned to occur in the following Quarter 4.
It seems that investors are not appreciating LGDI’s strategy change, or their appreciation has not yet been reflected in the dancing reverse tango LGDI stock price.
