Soros fund reports 5.19 pct stake in Legend Intl

WASHINGTON, Oct 3 (Reuters) - Billionaire investor George Soros reported on Friday that his fund holds a 5.19-percent passive stake in Australian mining firm Legend International Holdings (LGDI.OB:).

Soros Fund Management reported in a filing with the U.S. Securities and Exchange Commission that it owns 11.7 million shares of Legend. (Reporting by Karey Wutkowski)

RECENT NEWS

Tuesday September 2, 6:01 am ET
Legend International Holdings, Inc. (OTCBB:LGDI) with phosphate projects in the State of Queensland, Australia, announces that drilling has commenced at the D-Tree project which forms part of its Queensland phosphate landholdings, and has substantial historically delineated phosphate projects.

The drilling at D-Tree will be a mixture of reverse circulation and diamond core drilling and the Company plans to drill approximately 20,000 metres at D-Tree over a period of three months, and a further 80,000 metres over the other tenements once D-Tree is completed. The drilling will be used to re-validate historical results, convert the historical results to reserve status, and collect further material for beneficiation test work.

Following completion of the drilling at D-Tree, the drill rig will be moved to further target areas which will include Lady Annie, Lily and Sherrin Creek and Highland Plains. The Company is also investigating the use of a second drill rig to fast track results.

August 12, 2008
Legend International Holdings, Inc., a Delaware corporation (the “Company”) announced that Dr. U. S. Awasthi, Mr. Manesh Gupta, Dr. Allan Trench and Mr. Henry Herzog had been elected as members of the Company’s Board of Directors, effective as of August 12, 2008 pursuant to recent agreements with the Indian Farmers Fertiliser Cooperative Limited (”IFFCO”).

Neither Dr U.S. Awasthi, Mr. Manesh Gupta, Dr. Allan Trench nor Mr. Henry Herzog has been, or is currently proposing, to be party to related party transactions as outlined in Regulation S-K Item 404(a).

A press release relating Dr U.S. Awasthi, Mr. Manesh Gupta, Dr. Allan Trench and Mr. Henry Herzog’s appointment to the Company’s Board of Directors is attached as Exhibit 99.1 to this Current Report on Form 8-K..

Tuesday August 12, 6:00 am ET
Legend International Holdings, Inc (OTCBB:LGDI) with phosphate projects in the State of Queensland, Australia announced today that the Managing Director of Indian Farmers Fertiliser Cooperative Limited (“IFFCO”), Dr U.S Awasthi, and Mr Manish Gupta, Executive Director of IFFCO, Dr Allan Trench and Mr Henry Herzog have joined the Board of Legend. The Company also announced it has issued 5,000,000 shares of common stock to IFFCO at $2.50 in accordance with the exercise of options previously announced on August 6, 2008.

Wednesday August 6, 6:00 am ET
Legend International Holdings, Inc (OTCBB:LGDI) with phosphate projects in the State of Queensland, Australia, announces that the Indian Farmers Fertiliser Cooperative Limited (“IFFCO”) have exercised 5,000,000 options in Legend at a strike price of $US 2.50 pursuant to the Share Options Agreement entered into on July 16, 2008.

The options exercise will provide an additional $US12.5 million of gross funding for the Company ($US12.3 million net of transactional costs) and will increase IFFCO’s stake in Legend from 6.78% to 8.84%. IFFCO still retains 25,000,000 options in Legend at strike prices from $US3.00 to $US4.00.

Commenting on the Agreement, Mr. Joseph Gutnick stated, “IFFCO’s decision to exercise the options 45 days early represents a significant vote of confidence in Legend’s projects and direction.”

The proceeds of the options exercise will be used to advance the ongoing development of the Company’s phosphate projects in the Georgina Basin in the Mt Isa region of Queensland.