Melbourne, Australia-Legend International Holdings Inc., with projects in Queensland and the Northern Territory of Australia, announced Dec. 28 that it has entered into an agreement to earn an 80 percent interest in phosphate deposits on three tenement blocks in Queensland, Australia. This consolidates Legend’s phosphate holdings in the Georgina Basin in Queensland, Australia. Legend’s main focus is the Lady Annie and Lady Jane projects, where previous detailed drilling has delineated historical phosphate deposits with a completed economic feasibility study. Legend entered into a farm-in and joint venture heads of agreement with King Eagle Resources Pty Ltd. on Dec. 7, 2007, pursuant to which Legend can earn an 80 percent interest in phosphate on three tenement blocks, named Quita Creek, Highland Plains, and Lily and Sherrin Creek, by spending $3 million on phosphate exploration over five years. Legend has no rights to any other minerals on the three tenement blocks. Legend estimates phos rock at these properties total some 480 million mt. Added to previously reported Legend prospects, the total amount is 1.46 billion mt.
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