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

Quote:

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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

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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)

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.

Quote:

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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.

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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!

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

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.

Ah good one for Drilly:),and me.:)

Feels good.

Thanks HC

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Originally Posted by h2so4

Ah good one for Drilly:),and me.:)

Feels good.

Thanks HC

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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?

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

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.

Quote:

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Originally Posted by h2so4

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

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Should fall now that I have just brought in at 16c too.!!!!
Thanks HC.

Quote:

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Originally Posted by 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.

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Na **** it. Let's have a party anyway.:D

Shasta, thanks for the info on POZ...I missed reading your post yesterday.

I'm feeling pretty comfortable with RUM (ignorance is bliss maybe?). Saw that have around $4m in the bank, with a market cap of just $20m...not too bad at all. Grabbed some more today at 15.5c (placed the order before the market opened, and took about 4 hrs before anyone sold down to those levels....so it looks like most holders of the stock aren't letting their stock go at any old price).

I've had a look at POZ, but can't say its really caught my interest. They don't seem to be progressing things very quickly, and the capital costs for their proposed slurry pipeline look rather steep (but with low transport operating costs).

Still on the lookout for people with a bit of knowledge around phosphate to take a good look at RUM latest announcements and give their opinion (good, bad or indifferent).

I've attached the latest RUM releases on the Ammaroo phosphate project, which are probably best read in order, top to bottom.

http://stocknessmonster.com/news-ite...E=ASX&N=344261

http://stocknessmonster.com/news-ite...E=ASX&N=515989

http://stocknessmonster.com/news-ite...E=ASX&N=346629

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

HC I have been burnt with MAK, but I still like phosphate. It's low inflation adjusted price, pre 2008 prices, continued demand and growing shortage which are all outlined in the last announcement under media release 7/12/10.

I googled phosphate.Peak [i kid you not] phosphate ;underpins NZ's entire agricultural economy.World shortage.

Quote:

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Originally Posted by Huang Chung

Still on the lookout for people with a bit of knowledge around phosphate to take a good look at RUM latest announcements and give their opinion (good, bad or indifferent).

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I think some comments from Gazprom may be of some use as he seemed to at one time take a big stake in Minemakers (MAK).

Although I dont know if it was for MAKs phosphate but he did speak with them so would surely know some of the in's and outs of such a company.

As with any thoughts about any company or investment though, it can usually be what questions that we dont think of or ask, that are the ones that can be of a great significant concern to any investment, imo.

Little 'ol RUM scores a mention in the "Pure Speculation" column of the Australian!

http://www.theaustralian.com.au/busi...-1225969790747

Once again, you done it again HC. RUM up 15.6% on a potash announcement.

Bought some of these back in October and then started to have serious doubts when they dipped in November, but am now glad I hung on. I also think that dropping the "Uranium" from their name may possibly have helped to attract a wider audience. Today's announcement seems to have been well received - we're in the briny - let's hope our gains don't fall victim to evaporation! Am encouraged by the 5:1 ratio buyers:sellers.

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Originally Posted by soulman

Once again, you done it again HC. RUM up 15.6% on a potash announcement.

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Soulman...I'm in RUM primarily for the high grade phosphate potential, but the good results they are achieving with Potash is most certainly welcome.

RUM going great guns today, no doubt assisted by today's announcement detailing 2011 exploration plans for high grade phosphate at Ammaroo.

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

Builds nicely on yesterday's positive news regarding their brine lake potash prospects.

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

Quote:

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Originally Posted by Huang Chung

RUM going great guns today, no doubt assisted by today's announcement detailing 2011 exploration plans for high grade phosphate at Ammaroo.

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

Builds nicely on yesterday's positive news regarding their brine lake potash prospects.

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

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And the weight of buying to selling interest should keep us chugging uphill for a few more miles yet, HC!

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Originally Posted by shasta

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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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,.

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,.

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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!

Quote:

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Originally Posted by shasta

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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No worries Shasta, thought that may have been one of the stocks you had run the ruler over.

Yeah, sure do hope we do hear from HC soon. Just watching the TV and hearing horrific stories in such detail is quite alarming really.

Quote:

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Originally Posted by drillfix

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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Drilly, Shasta

Yep, still here, high and dry, but somewhat pre-occupied ATM with current events. Appreciate your concern though.

Some parts of the city are doing it tough at the moment, but the real tragedy has been Toowoomba on the top of the range, and towns like Grantham in the Lockyer Valley to the west of Brisbane. Even in NZ I'm sure you've seen the footage of the cars being swept away in Toowoomba. Hard to believe when the town is something like 2000 feet above sea level.

Hi HC,

Good to hear you ok there mate! Been a couple of days since your last post so thought maybe you were caught up in the tragedy but thank goodness your ok.

Got a friend just south of Toowoomba and need to get in touch with him. Last I heard he was visiting his girlfriend in Townsville and got stuck up there due to the floods and could not come back. (that was a couple weeks ago) but apparently he has travelled back and will give him another call to see if he is ok.

On another note, looks like RUM did a little rally hey, are you still holding this HC? Seems though that the news was already factored in as there was a bit of a retreat on the news.

Good to hear your ok anyway! :)

Haven't sold a single share Drilly :).

BUT...it will be the drill that untimately determines where RUM will go, either into orbit or the dog house....

Feels like a rocket to me. See you in orbit Rocket Man.:)

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?

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

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?

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.

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.:)

Quote:

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Originally Posted by Huang Chung

Ammaroo Phosphate:

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

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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?

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?

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

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

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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?

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

H2,
I am not asking for Technicals on this, I am asking for Fundamentals.

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Originally Posted by drillfix

H2,
I am not asking for Technicals on this, I am asking for Fundamentals.

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Well maybe the seller got happy or went mad.:)

Quote:

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Originally Posted by drillfix

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?

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RUM stacks up better than all the other plays on the ASX, but theres not too many to compare to!

I would suggest you are looking at a very conservative 15 million tonnes within the 2.5 km x 1.5 km area recently drilled. Of course, the drilling has been light, so there is an assumption that the mineralisation persists throughout this area. But really, RUM have only scratched the surface here. I do like the way they quickly pegged other tenements that were likely to contain similar phosphate deposits (the phospate is located on what was the shoreline of an inland sea).

Quote:

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Originally Posted by drillfix

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?

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Hmmmm might look into these ones further, particularly POZ. 56Mt at 16% P2O5 for $10mil market cap. Top 20 own 60%.... Certainly is one sick looking chart

As far as Rum goes, looks like its a lot closer to transportation and the deposit could be a lot larger? Guess thats what it has (now) 4x the market cap of POZ.... Wonder which has bigger upside.

Just one more thing on POZ before I go back to minding my own business... HotC shows some pretty unhappy holders who will no doubt look to exit on any rise. Oswals (Burrup Fertilisers) have been recent sellers. Also, one of the problems seems to be that there are 4 geo's on the board....

And lastly, MD says that they're looking at revenue of about $US110 p/t for 3mil tonnes per year ($330mil revenue). Says that a decently slurry pipeline will (other than being expensive capex wise) be about $4 /pt to operate. So a highly profitable operation once its actually up and running. One thing though, phosphate prices have risen something like 60% to $600 p/tonne, so I wonder why the massive discrepancy there.

A JV with a big company that knows what they are doing could see some good times.....

Thanks for your view there HC , Shasta and Trackers!

Hey trackers, yes a major holder selling out of POZ and I think there will be plenty upside once he is done which cant be too long as he only has about 5.x million left and after today that should be approx 4.x million left.



Will sure buy them under 10c though cause I would say by week ending there will be a move up, hence agree, plenty of upside here.

Comparisons between the RUM and POZ are slightly awkward to compare unless you only view the phosphate however a foot in both would be nice and pitty I missed this at 13c around, but ahh well.

Took some off the table today, so I'm effectively free carried on the balance.

Quote:

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Originally Posted by trackers

Just one more thing on POZ before I go back to minding my own business... HotC shows some pretty unhappy holders who will no doubt look to exit on any rise. Oswals (Burrup Fertilisers) have been recent sellers. Also, one of the problems seems to be that there are 4 geo's on the board....

And lastly, MD says that they're looking at revenue of about $US110 p/t for 3mil tonnes per year ($330mil revenue). Says that a decently slurry pipeline will (other than being expensive capex wise) be about $4 /pt to operate. So a highly profitable operation once its actually up and running. One thing though, phosphate prices have risen something like 60% to $600 p/tonne, so I wonder why the massive discrepancy there.

A JV with a big company that knows what they are doing could see some good times.....

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Hey Trackers,

Can you clarify one thing: you mention that phosphate prices have risen to something like $600p/t. I am not sure that is correct. Super phoshate is around NZ$300-340p/t. You might have been looking at urea which is current a touch over $700p/t but has been around $600p/t for most of last year. The "raw" phosphate they get of the ground has a much lower value - which is probably the $110 figure they mention for revenue.

You been making money?? Hope so!!!

Gaz

Quote:

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Originally Posted by Huang Chung

Took some off the table today, so I'm effectively free carried on the balance.

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Good stuff there HC, back to the early post I wish I had followed you on this play as it was there for the picking.

Well done on your move though :)

I'd still keep an eye on it Drilly, if I were you.

If the new drilling extends the know zone of high grade phosphate, RUM could go ballistic.

Quote:

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Originally Posted by gazprom1

Hey Trackers,

Can you clarify one thing: you mention that phosphate prices have risen to something like $600p/t. I am not sure that is correct. Super phoshate is around NZ$300-340p/t. You might have been looking at urea which is current a touch over $700p/t but has been around $600p/t for most of last year. The "raw" phosphate they get of the ground has a much lower value - which is probably the $110 figure they mention for revenue.

You been making money?? Hope so!!!

Gaz

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Hey Gaz, know nothing at all about phosphate prices so yeah I was probably looking at urea by accident, thanks for clearing that up as I was a bit confused :)

Doing ok, portfolios up a little over 10% in Jan so can't complain. How about you? MAK is doing well!

I understand that the company is doing presentations in Sydney and Melbourne today and Monday. Some brokers are latching onto the story as well.

Good quarterly that's definitely worth a read. Here's an interesting bit:

"In December the company made a presentation to the office of the Minister for Mines and Energy in
Darwin. Background to the presentation was the important impact the project could make on usage of
the Northern Territory Railway infrastructure and the under-utilised capacity at the Darwin Port
Corporation. A follow up presentation by senior personnel of the Darwin Port Corporation highlighted
the available infrastructure and capacity of the new wharf facilities.
The company is in preliminary discussions with Sydney based Origin Capital Group Pty Ltd, to
provide logistics advice. The company is also intending to discuss the project with interested consumers in the next few months."

If you think about it, their actions seem to imply a high degree of confidence in their Resource at Ammaroo, even though it is still early days.


http://stocknessmonster.com/news-ite...E=ASX&N=349268

Up a lazy 25% today on no news. Turnover a very healthy 4m.

Now a 3 bagger on my original entery just less than 2 months ago.

i am doing my best to erase all knldge of your previous gir like post. i am consoling myself that pir arrested its downturn. hardly 25%

PIR released some good drill results today, but is hostage to a sagging sentiment for gold.

Not sure what your driving at Roy, but PIR is something like a 6 bagger from when I first posted and I was backing GIR from below $1, and it's now nearly $5.(not that I held it all the way).

lost opportunity re rum is all hc. me not do sarcasm wang

Well Huang Chung [so far so good] was over the moon to see RUMsters post.I saw earlier that they had hit 38.Thought that was great,so was taken by surprise when I read WC's post on HC and saw the price at time of posting was 47.5cents.Pleased I kept half my holding. I still laugh at your original post.!! What a great call.

yo ho ho and a bottle of .............

Phosphate is around $US150/t for average grade.

FMB says that their North African FOB range for the first quarter of 2011 reflects recent sales by OCP to customers in the US and Europe at $140-150pt FOB for 69-70 BPL.

The latest fertweek has Morocco product at $US155 - 165pt FOB for 65-75 BPL.

Well done on the sp rise I just missed out at 37c, decided not to chase it! At least I have some RWD which is the RUM JV partner at Karinga Lakes, shaping up as a solar evaporative potash mine. The outlook for potash is up to $775/t later this year according to a report I have read and of course the price of retail potash in Australia is already significantly higher than that. And this will be a premium product too with magnesium and sulphur incuded.

Although it is hard to get much solid information, it seems Egypt has a phosphate industry that must now be under some sort of cloud, given the upheaval going on over there. I would seem logical that most Moroccan phosphate exports to Asia would go via the Suez Canal, which means the reliability of supply to Asia (incl Australia and New Zealand) must now also be questioned.

Having an alternate source of supply would undoubtedly seen as a welcome development. Subject to satisfactory economics, the idea of RUM railing phosphate straight to the undercapacity Port of Darwin seems a very attractive solution, with Darwin being perfectly located to serve South East Asian, Australian and New Zealand markets.

Quote:

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Originally Posted by Huang Chung

Although it is hard to get much solid information, it seems Egypt has a phosphate industry that must now be under some sort of cloud, given the upheaval going on over there. I would seem logical that most Moroccan phosphate exports to Asia would go via the Suez Canal, which means the reliability of supply to Asia (incl Australia and New Zealand) must now also be questioned.

Having an alternate source of supply would undoubtedly seen as a welcome development. Subject to satisfactory economics, the idea of RUM railing phosphate straight to the undercapacity Port of Darwin seems a very attractive solution, with Darwin being perfectly located to serve South East Asian, Australian and New Zealand markets.

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Hope ya barracaded up there HC, poor old Queensland really copping it of late

Let us know you're ok

I think Huang will be ok there Shasta as he is up Brisbane way.

The impact is starting to show now with winds and waves rising, and electrics starting to drop out in some places. (so the news says anyway).

Full effect is expected to hit around approx midnight, then continue and hopefully weaken as it moves in land though still will reduce to a category 3 cyclone rather than a 5 when it first hits.

Hope everybody who knows somebody up there are all locked down and fingers crossed.

Quote:

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Originally Posted by shasta

Hope ya barracaded up there HC, poor old Queensland really copping it of late

Let us know you're ok

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Hi Shas, Drilly,

TC Yasi isn't impacting the south of the state at all...we're flood and storm specialists down here ;-)

Just another hot, muggy summer's night in Brisvegas...

Good to hear HC.

And yeah, I know what you mean, its the same down here on the coast with hot, very humid and not very much breeze going on, or as you say, Muggy.

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Originally Posted by Huang Chung

Hi Shas, Drilly,

TC Yasi isn't impacting the south of the state at all...we're flood and storm specialists down here ;-)

Just another hot, muggy summer's night in Brisvegas...

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Its getting alot of coverage over here, special news bulletins tomorrow morning, extra reporters etc

Here in the nations capital we regularly get winds over 100/kph, but around 300 kph is staggering

Quote:

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Originally Posted by shasta

Its getting alot of coverage over here, special news bulletins tomorrow morning, extra reporters etc

Here in the nations capital we regularly get winds over 100/kph, but around 300 kph is staggering

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To put it in terms people might appreciate, it's as fast as a V8 Supercar goes down Conrod Straight at Bathurst.

Huang Chung. Untill the V8 Supercar puts a rod through the side & do not forget the Racing Teams rebuild the motor on a regular basis, Does Rum Jungle need rebuilding every couple of Months like the V8 Supercar engine

Well, RUM put on 25% for no good reason, and now it seems like it's giving most of the gains back.

C'est la vie.....

Quote:

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Originally Posted by Huang Chung

Well, RUM put on 25% for no good reason, and now it seems like it's giving most of the gains back.

C'est la vie.....

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Don't know but certainly an interesting ride.Chart looks very strong though, and volumes high.

Returning with a vengeance, today.

The drums are drumming up a right old rum tum tum rum today,over 50cents.RUM ON heat.!!!

Me no sell!

Lets hope we don't give it back, like what happened last time.

A slightly unusual interview with MD David Muller.

Mainly deals with his history, and the history of Rum Jungle.

Seems reasonably bullish that they will be producing phosphate at Ammaroo. Next round of drilling should start early next week, and they will be getting the holes done very quickly.

http://stocknessmonster.com/news-ite...E=ASX&N=350817

HC

Clear your PMs so I can send you one. It says your inbox is full! :)

Regards,

Sauce

Done.......

Something that came up in Federal Parliament about Morocco and Western Sahara that I didn't know....

http://www.openaustralia.org/debates...011-02-24.94.1

Worth watching Morocco at the moment. They are also experiencing a wave of protests, but everythings peaceful so far.

Quote:

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Originally Posted by Huang Chung

Something that came up in Federal Parliament about Morocco and Western Sahara that I didn't know....

http://www.openaustralia.org/debates...011-02-24.94.1

Worth watching Morocco at the moment. They are also experiencing a wave of protests, but everythings peaceful so far.

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Good link,thanks.Australian companies will be a lot happier having an australian supplier.At was it 20 holes a day we will know shortly.I am still half there having sold half.

Sold the majority of my holding today for a handy 4 bagger.

Still holding a few just to keep some skin in the game.

Quote:

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Originally Posted by Huang Chung

Sold the majority of my holding today for a handy 4 bagger.

Still holding a few just to keep some skin in the game.

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Wow, sounds like bliss there HC, and may I say your timing is impeccable.

Perhaps we should hit you up for some Thai Food too....lol What do ya reckon Percy? :)

Quote:

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Originally Posted by drillfix

Wow, sounds like bliss there HC, and may I say your timing is impeccable.

Perhaps we should hit you up for some Thai Food too....lol What do ya reckon Percy? :)

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Well done HC.I am still half there.!? Got no idea what I am doing.Expect Aussie to be down today with US down,so may wait for drilling results.
drillfix.I agree with you on the Thais.What we have to avoid is evilroyrule's " bad" Indian curries.

I'm in two minds about the last drilling update. They only highlighted two holes further south as having medium to high grade phosphate, at slightly deeper depth. They didn't mention the thickness of the intercepts. I magnified the pic of the geo holding the chips from one of those holes, and, if I've interpreted the picture correctly, the white bit didn't look very thick. If course, there may be more chips that they didn't photograph. I'm probably over-analysing this, and maybe jumping to some erroneous conclusions, but, again, I'm going with my gut here.

The bigger story is what's to the west of the current drilling, which we don't know as yet. I might jump back in if that drilling turns up some nice thick intercepts of high grade phosphate.

RUM back in action due to SOL subs holding of 9 mil shares for a 6% stake. I have bought in.

Quote:

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Originally Posted by soulman

RUM back in action due to SOL subs holding of 9 mil shares for a 6% stake. I have bought in.

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All gone quiet on this one, especially since SOL now hold 13.83%. What will these guys do with this, sell it off to the Chinese!

Seems to be the way these days. I bought a few, worth a punt, it's cheap and things are stepping up, in the company with Appointment of Director of Development Projetcs

and we have this presentation. 19th

Mining the Territory 2012 Conference Presentation

Quote:

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Originally Posted by tricha

All gone quiet on this one, especially since SOL now hold 13.83%. What will these guys do with this, sell it off to the Chinese!

Seems to be the way these days. I bought a few, worth a punt, it's cheap and things are stepping up, in the company with Appointment of Director of Development Projetcs

and we have this presentation. 19th

Mining the Territory 2012 Conference Presentation

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Forum has gone completely quiet Tricha. I have been trading RUM and still got a few bought at 22. SOL got most of RUM for 30 cents in their recent placement.

Interesting SOL is currently acquiring 100% of EXS. I missed out since the first bid and was going to buy some EXS as I feel a higher offer.

Quote:

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Originally Posted by soulman

Forum has gone completely quiet Tricha. I have been trading RUM and still got a few bought at 22. SOL got most of RUM for 30 cents in their recent placement.

Interesting SOL is currently acquiring 100% of EXS. I missed out since the first bid and was going to buy some EXS as I feel a higher offer.

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+

SOL keep buying more RUM Soulman, so they must have done the numbers and even at 30 cents, it was cheap to them.

Now it's 20 cents, I guess their next move will be take it all at 25 cents, hmm, like EXS.

A new company - to me! The name, Rum Jungle, brings back some of my earliest investment memories, circa early 1960's when Rum Jungle was synonomous with "uranium" in Australia.

Any company that SOL are interested in deserves to be taken seriously - more research required on my part. A first thought though, SOL's stated reason for taking control of EXS was to secure ore for their CopperChem plant. I don't know whether there would be an equivalent reason to seek all of RUM? Or is it just too attractive a proposition not to have it all?

RUM gets a mention, in passing, in this recent article on fertiliser stocks.

http://www.eurekareport.com.au/artic...RIPPED&modapt=

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Originally Posted by macduffy

RUM gets a mention, in passing, in this recent article on fertiliser stocks.

http://www.eurekareport.com.au/artic...RIPPED&modapt=

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Imm, u might be right Mac Duffy, a good day to bail. ( Thats if u r an early bird )

Looking very strong today at 27cents.25cents was stopping it.

Good to see the Rummeys regaining some form at long last.

You've also got Nu Power (NUP) to the east of RUM, with similar sorts of grades, at a much lower mkt cap, but, further from the Adelaide to Darwin rail line, which lies to the west of RUM. On balance, I still prefer RUM.

Quote:

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Originally Posted by Huang Chung

Good to see the Rummeys regaining some form at long last.

You've also got Nu Power (NUP) to the east of RUM, with similar sorts of grades, at a much lower mkt cap, but, further from the Adelaide to Darwin rail line, which lies to the west of RUM. On balance, I still prefer RUM.

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I brought a small parcel today.Last time I followed your lead on RUM I did very well.

The market pushed RUM up 2.5cents [17.2%] to 17cents on the announcement it had signed a Potash MOU with Chinese Govt Chemical Consulting Group.A positive step forward in bringing this project to market.

The wheels keep turning slowly at RUM.

Share price is in the doldrums, but this weeks announcement about a visit to China grabbed my attention. Maybe some deal to follow?

Anyhow, I took the opportunity to re-establish a position in RUM after a hiatus of a few years.

http://stocknessmonster.com/news-ite...E=ASX&N=402119

Quote:

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Originally Posted by Huang Chung

Something that came up in Federal Parliament about Morocco and Western Sahara that I didn't know....

http://www.openaustralia.org/debates...011-02-24.94.1

Worth watching Morocco at the moment. They are also experiencing a wave of protests, but everythings peaceful so far.

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For Matakana.

Just no interest at all in RUM.....

When you're sector is out of favour, it's out of favour :t_down:

Quote:

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Originally Posted by Huang Chung

Just no interest at all in RUM.....

When you're sector is out of favour, it's out of favour :t_down:

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Certainly is.!
I added to my RUM and SRZ [Tasmanian Tin] holdings awhile ago.Foolish I know,but I like the progress both are making.[Only play money in each.]

Ah Percy, thanks, I’ve found the RUM thread.

Yes, the pre-feasibility is due in a few weeks and I've been holding off for that before committing to RUM.

My feel is that it may be prohibitive for RUM to road and rail 18%P2O5 all that way to Darwin, it just doesn't seem competitive with Moroccan 32%P2O5 landed in Australia with plus US$65/t freight.

RUM are always banging on about being close to a major rail and gas pipelines, and they have a potash prospect at Karinga.

Although it may be quite marginal to get the phosphate out as a product am I correct in assuming that their intention is not to do so, rather it is to value add, process in the desert, provided a water permit is forthcoming, and to rail out value added product only, NPK, SSP and DAP ?

Rereading the presentation I think the Strategic Overview on page 4 sets out their objectives.
Page 20 gives potential out comes that could create shareholder value,which gives you an idea of their intentions,depending on whether they sell a project,develop a project or projects with a joint venture, or decide to go it alone on one project.
Next Step on page 22 states immediate objectives.

Still making progress.
I have always had a laugh at Chairman's using the word "significant" in their speeches.
Used once.=hold.
Twice........buy.
Three times .strong buy.
Well today the chairman used it four times.!!!
Now do I follow this proven trading system and bet the house on them,or just remain"well positioned" with what I have??.
ps they changed their name to Verdant Minerals, and the new code is VRM.