Rum Jungle Resources (RUM) - Phosphate potential?

[Huang Chung]

Just happened to flick onto the ASX announcements today where a release from RUM caught my attention.

"Indications of a world class phosphate provence"

Ammaroo Project, north of Alice Springs.

I bought some completely on spec...I really know nothing about phosphate, but the announcement did a good enough sell job to get me to buy first, ask questions later. Seems to tick the right boxes such as very shallow, reasonable grade, and 'uniform blanket'. They are also making a big deal about the potential size of the deposit...... 'this suggests a high tonnage, high grade phosphate deposit of giant dimensions'.

Now...over to you.

If any of you have knowledge of phosphate, have I bought into a piece of crap, or could this thing have legs? Read the announcement and media release and let me know what you think.

http://stocknessmonster.com/news-ite...E=ASX&N=347069

[shasta]

Just happened to flick onto the ASX announcements today where a release from RUM caught my attention.

"Indications of a world class phosphate provence"

Ammaroo Project, north of Alice Springs.

I bought some completely on spec...I really know nothing about phosphate, but the announcement did a good enough sell job to get me to buy first, ask questions later. Seems to tick the right boxes such as very shallow, reasonable grade, and 'uniform blanket'. They are also making a big deal about the potential size of the deposit...... 'this suggests a high tonnage, high grade phosphate deposit of giant dimensions'.

Now...over to you.

If any of you have knowledge of phosphate, have I bought into a piece of crap, or could this thing have legs? Read the announcement and media release and let me know what you think.

http://stocknessmonster.com/news-ite...E=ASX&N=347069

Ive got a couple of phosphate plays on my watchlist, will check out how there grades compare, but 20% + sounds good to me especially if its shallow

Will post some comparisons for you

Better still, im leave a link for the former NMN, now named AGR

http://stocknessmonster.com/news-ite...E=ASX&N=180794

Hopefully it gives you a bit more background on Phosphate (& a better comparison than say MAK)

[Huang Chung]

Shasta...I've just had a quick look at AGR and it seems to me that RUM potentially stacks up very, very well against it in terms of grade and depth. Obviously, not as close to markets, which is a disadvantage.

[shasta]

Shasta...I've just had a quick look at AGR and it seems to me that RUM potentially stacks up very, very well against it in terms of grade and depth. Obviously, not as close to markets, which is a disadvantage.

Another stock to compare against POZ

http://stocknessmonster.com/news-ite...E=ASX&N=480474 (old presentation but has some guff on phosphate)

Again RUM's grades stack up, you could be onto a winner here HC!

[drillfix]

HC did you just buy in with one big buy or clump, or did you scale in?

[Huang Chung]

I'm not sure if the broker picked them up in one lump or not, as I haven't got the contract note yet. I didn't buy many, so they should have been a pretty easy pick up at 15c.

[h2so4]

Ah good one for Drilly,and me.

Feels good.

Thanks HC

[drillfix]

Ah good one for Drilly,and me.

Feels good.

Thanks HC

Hi h2,

Dont feel good yet as I have not bought in, although I do have an order in which, may or maynot get filled.

are you in h2? when was your entry?

[h2so4]

Yes I'm in, 0.16. Price usually falls once I buy in. Hope you do better Drilly

[drillfix]

Good stuff h2, not sure if my order will get taken or not, but will leave it there to see what happens.

I saw a 1M seller at 17c appear earlier today that looked pretty serious about stopping any party, so thought why not just let the action come to me if possible.