Legend International Holdings, Inc. (OTC:LGDI) has been on the up move over the past couple of days. Yesterday, the climb 
continued and the stock added the next 5% to its price, while its traded volume notably jumped up. Though, the reason for the gain is still unknown.
The latest news by Legend International was released last week, when the company filed its quarterly report. Apart from the 10-Q, no other announcements on LGDI were to follow and presently no one is familiar with its activities. Though, the stock is still climbing up.
Legend International Holdings, Inc is a mining and agriculture resource development company. About a month ago, the stock had another gain on no news released, however, just a few days after the climb the company released a piece of information that encouraged investors. Now the situation looks the same and maybe the reason for the current gain is just about to be revealed.
Meanwhile, the financial results of Legend International don’t inspire much confidence. According to the 10-Q, as of March 31, 2010 the company’s liabilities were higher than its total assets and the deficit during the exploration period jumped over $105 thousand.[BANNER]
LGDI has historically funded its activities from funds provided by capital raising through the issuance of shares and from advances from affiliated entities. Despite its losses, the management believes that the company has sufficient operating liquidity to sustain its activities through 2011. However, as LGDI has not yet generated income producing activities, it will continue to seek additional funds from capital raising efforts through the issuance of its shares. The only problem for LDGI, however, is that if it is unsuccessful in raising such additional capital, the company may not be able to continue active operations.
