Just a quick heads up on one of my favorite stocks:  Legend International Holdings, Inc. (LGDI). I blogged it back on September 14th when it was at 60 cents…….good timing on my part because it ZOOMED to $1.11 in just a week after I blogged it. I believe the setup is very similar and a short-term bounce is possible.

I love this stock and this company.  LGDI is a very boring natural resource play….they are an exploration company that is exploring and mapping giant deposits of  Phosphate Rock….a crucial component of fertilizer and industrial products.  They own millions of acres of land in Australia (in proven mining zones) and are a well-capitalized, well-managed mining operation.

I will have more about LGDI in the future, but they announced some strong news today, too.  The company announced the formation of a strategic alliance with Wengfu Group Co. Ltd (Wengfu) for the development of LGDI’s phosphate mine, a beneficiation plant and a phosphoric acid plant in the Mt Isa region, Queensland, Australia.  Wengfu, once the DD is completed, will become an equity partner (joining an already prestigious group of institutional investors, including George Soros) and lend its technical expertise to LGDI.

Here is the chart….you can see the stock has given back much of its gains and has an attractive chart.

I expect that you will hear a lot about LGDI from me in the weeks and months to come.  I really like it!

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BlueWave Advisors, which is the owner of this website has been compensated a total of seven-thousand five hundred dollars by Legend International Holdings for coverage of LGDI.