For the nine months ending September 30, 2009, net cash used in operating activities was A$21,494,726 (2008: A$9,695,491) primarily consisting of the net loss of A$26,396,068 (2008: A$10,601,273), decrease in accounts receivable of A$1,622,299 (2008: A$1,145,497); increase in prepayments and deposits of A$2,681,007 (2008: A$940,825); a increase in inventories of A$47,447 (2008: A$nil) offset by an decrease in accounts payable and accrued expenses of A$210,696 (2008: A$131,655); and adjusted for non-cash items relating to the fair valuing of NADL on date of acquisition of A$2,017,953 (2008: $nil) and other non-cash items of A$8,236,146.
Net cash used in investing activities was A$15,220,088 (2008:
A$3,281,348), being for the purchase of investments for A$5,914,269 in NADL and NCRC, trading securities A$377,658; property, equipment and motor vehicles for A$1,112,198; net of proceeds from the sale of trading securities of A$1,272,343 and property, plant and equipment of A$110,100; and net cash acquired from the acquisition of majority owned subsidiary of A$9,198,412.
Net cash used in financing activities was A$290,032 being primarily net repayments under financing leases of A$292,795 being for lease payments for the purchase of motor vehicles under finance leases (2008: A$nil); and net proceeds from shares issued upon exercise of options of A$2,763 (2008: A$nil).
At September 30, 2009, LGDI held US$14,330,395 in US accounts which when converted to Australian dollars results in an unrealized foreign exchange loss of A$4,248,053.
Best Damn Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move.
Sign Up for our Free Stock Newsletter
Legend International Holdings, Inc. (Legend) is an exploration stage company. The Company is engaged in mineral exploration and development activities. Legend primarily focuses in the development of its phosphate interests in the Georgina Basin in Queensland. The Legend landholdings, prospective for phosphate, diamonds and base metals, cover 40,525 acres in Queensland, Australia, and 4.7 million acres in the Northern Territory, Australia. In Queensland, Legend’s holdings are historical phosphate deposits located in the Mt. Isa district. Legend’s mining tenements are divided into three project areas: Phosphate Projects, which include The Queensland Phosphates; Diamond Projects, which includes Glyde River, Foelsche, Abner Range and Cox in Northern Territory, and Base Metals, which includes McArthur River and Selby Project in Northern Territory. As of July 23, 2009, Legend held 51.28% of North Australian Diamonds Limited's voting power.
Sign up for the free Best Damn Penny Stocks newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website
About Best Damn Penny Stocks
Best Damn Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
