Chatham Rock Phosphate - CRP

[elZorro]

A bit of competition perhaps.

L&M Group in new Chatham Rise phosphate quest

Ross Louthean — 3 February 2012
The L&M Group which figures strongly in petroleum exploration, coal seam gas, coal and gold mining is now joining the quest for seafloor phosphate deposits on Chatham Rise.
The company has formed Chatham Phosphate Ltd which it owns 90%, with the balance held by prospect vendor and veteran geoscientist Roger Gregg.
New Zealand Petroleum & Minerals has granted a permit on the rise, near the Chatham Islands and well east of Christchurch and it envelopes on three sides of the marine phosphate permit held by Chatham Rock Phosphate Ltd (NZAX: CRP).
Chairman of the L&M Group, Geoff Loudon, said there are no set plans and the future development of the company because everything is in its infancy. Later, consideration could be given to whether Chatham Phosphate remains private or looks at an IPO.
Over the years Roger Gregg was involved in studies on the Chatham phosphorites.

[sailor1]

Certainly can't complain about the recent share price performance with these guys. They have now got some excellent solid cornerstone shareholders, progress is certainly being made towards the ultimate goal of mining the phosphate. They seem to have it all heading in the right direction. Just a note, Percy about your comments on Chris Castle. I am familiar with his past record with CharterCorp, 1987 and all that, but just ponder on this for a moment. He's a risk taker sure, but isn't that the way with people like this who are prepared to put their necks on the line? They don't always win. That's just the way it goes and if one were to survey randomly the propotion of very rich people who had once been bankrupt, and I don't believe Castle ever gotto those depths, then I'm sure you will find there would be a far greater % of ex bankrupts amongst the sample of the very wealthy than there would be from a random sample of the general population.

Good luck to Castle and Chatham Rock I say. There is a good chance they are on to a winner here and I'm very glad to be along for the ride. It's been a great one over the past couple of weeks and I think over the next couple of years there will be more good news.

[percy]

Certainly can't complain about the recent share price performance with these guys. They have now got some excellent solid cornerstone shareholders, progress is certainly being made towards the ultimate goal of mining the phosphate. They seem to have it all heading in the right direction. Just a note, Percy about your comments on Chris Castle. I am familiar with his past record with CharterCorp, 1987 and all that, but just ponder on this for a moment. He's a risk taker sure, but isn't that the way with people like this who are prepared to put their necks on the line? They don't always win. That's just the way it goes and if one were to survey randomly the propotion of very rich people who had once been bankrupt, and I don't believe Castle ever gotto those depths, then I'm sure you will find there would be a far greater % of ex bankrupts amongst the sample of the very wealthy than there would be from a random sample of the general population.

Good luck to Castle and Chatham Rock I say. There is a good chance they are on to a winner here and I'm very glad to be along for the ride. It's been a great one over the past couple of weeks and I think over the next couple of years there will be more good news.

I enjoy your comments and found the article ElZorro refered to in post No.6 most interesting.
Chris Castle has certainly stuck with it and like you wish him good luck.