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Rum Jungle Resources (RUM) - Phosphate potential?
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
Last edited by Huang Chung; 07-12-2010 at 09:22 PM.
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Originally Posted by 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
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)
Last edited by shasta; 07-12-2010 at 09:53 PM.
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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.
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Originally Posted by 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.
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!
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Originally Posted by shasta
Hi Shasta,
Whats up with POZ?
It seems that the news today has been already factored into the recent RUM rally up from the 20'+c previous days, yet it has hit newer highs.
Meanwhile back at the Ranch, POZ seems like its about to bottom or test the 52 week Low. Seems like a main holder wanting out perhaps? maybe no news killing the stock from slack management not being able to deliver, Or, the diversification into Manganese in WA?
Funny business this, lots of unknown variables floating around and not floating around,.
Last edited by drillfix; 13-01-2011 at 03:13 PM.
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Just a thought, but has anybody heard from HC?
HC, are you Ok?? I know your up there near Brissie mate and I know there is lots of carnage up there atm so question is, is you house/home family and friends all ok up there?
The disaster is broadcast on the news here on the gold coast every moment of the day it seems and from some of the pics I am seeing, its seems surreal to think that its only 45 minutes away.
So I hope your all Ok there mate.
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Originally Posted by drillfix
Hi Shasta,
Whats up with POZ?
It seems that the news today has been already factored into the recent RUM rally up from the 20'+c previous days, yet it has hit newer highs.
Meanwhile back at the Ranch, POZ seems like its about to bottom or test the 52 week Low. Seems like a main holder wanting out perhaps? maybe no news killing the stock from slack management not being able to deliver, Or, the diversification into Manganese in WA?
Funny business this, lots of unknown variables floating around and not floating around,.
Cant say i know much about POZ or RUM Drilly, it was just in my mind at the time i posted, for comparison purposes
Hope HC is ok, Queensland has taken a massive toll, its unreal, the size of the area affected is larger than NZ!
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HC did you just buy in with one big buy or clump, or did you scale in?
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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.
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