Rum Jungle Resources (RUM) - Phosphate potential?

**drillfix** · 14-01-2011, 01:24 PM

Fair enough HC and quite a balanced view really. The result will do the talking and the sp just follows accordingly.

H2, lol, you seem pretty confident there. Heres to some good results for you guys. Any approximation to when these results are due?

**Huang Chung** · 14-01-2011, 01:37 PM

Drilly, not expecting anything in the immediate future, but these two announcements detail where they're at with their phosphate and potash projects.

Ammaroo Phosphate:

http://stocknessmonster.com/news-ite...E=ASX&N=347832

Karinga Creek Potash:

http://stocknessmonster.com/news-ite...E=ASX&N=347763

**drillfix** · 14-01-2011, 01:44 PM

Cheers HC

Has anybody actually run the ruler over this stock to do some comparison to any of its peers?

Would be good if somebody has and can sound off. Not used to these sort of companies and they seem hard to gauge, measure when there are only really few of them. Dont ya think?

**Huang Chung** · 14-01-2011, 02:07 PM

The problem with a lot of phosphate plays is they either have low grades or they are far from transport, or both.

Whilst it's still early days, RUM are deliniating a high grade phosphate deposit at Ammaroo, and it's only around 85km from the Alice Springs to Darwin rail. Next round of drilling will cover ground even closer to the railway.

Obviously, you need to prove up the resource for starters, and then make sure the project is viable via the various feasibility studies. I reckon they're in there with half a chance of doing this.

**h2so4** · 14-01-2011, 03:21 PM

The ann by AAG selling it's 30% stake to RUM indicates something is brewing. Maybe potential partners are already showing their interest.

The phosphate price should underpin any downside.

Cheers Drilly I'm already there.

**drillfix** · 14-01-2011, 04:38 PM

Originally Posted by Huang Chung

Ammaroo Phosphate:

http://stocknessmonster.com/news-ite...E=ASX&N=347832

Can see grades on that ann you posted HC but nothing about tonnage. Is there anyway to gather how much tonnage there is or that they are looking at?

**drillfix** · 14-01-2011, 04:58 PM

Guys, I am not much of a FA type guy, I guess I'm basically trying to understand why RUM is 30+c and POZ is now under 10c with only 100M shares issued yet RUM is up 3x that although be it, it seems that the grades for RUM are higher.

Here is an ann with some reading of JORC resource and grades yet I still cant figure why one
http://www.phosphateaustralia.com.au...er_Process.pdf

Also seems the stock is being sold off or a major holder exiting, as the past few days, for this stock, high volume of 1M+ shares are changing hands so any thoughts on this?

**h2so4** · 14-01-2011, 05:04 PM

http://imagesignal.comsec.com.au/asx...f/01129902.pdf

It's general Drilly...high tonnage 20+ years mine life that sort of thing.

**h2so4** · 14-01-2011, 05:24 PM

Originally Posted by drillfix

Also seems the stock is being sold off or a major holder exiting, as the past few days, for this stock, high volume of 1M+ shares are changing hands so any thoughts on this?

Nope no thoughts. I have never understood why this happens but I am sure Phaedrus knows why.