Rum Jungle Resources Limited (ASX:RUM) Quarterly Activities Report Dec 2013
January 8, 2014 (Source: ABN Newswire) — Rum Jungle Resources Ltd’s (ASX:RUM) strategic intent is to find, develop and operate fertiliser mineral projects, and pursue base metals and gold prospects, located in close proximity to existing Central Australian transport infrastructure.
Rum Jungle Resources Ltd has significant resources of both phosphate and potash. It has significant cash reserves on deposit to ensure a timely delivery of its objectives.
– The company raised $9.88M by a placement to Australian institutions thereby increasing the total institutional backing of the company to over 35% of the issued capital
– A Share Purchase Plan (SPP) is also current allowing shareholders the opportunity to invest in the company under the same terms as its institutional investors. The SPP closes on January 15
– The largest and most influential Chinese government owned chemical consulting corporation (CICCC) has undertaken to do a prefeasibility study (PFS) on the brine lakes potash project at Karinga in the NT
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– A report recently released by Geoscience Australia has highlighted the possibility of substantial potash resources within some of the major salt lakes in arid parts of Central Australia. The company has moved quickly to apply for large areas over Lake Amadeus in the NT and Lake Torrens in SA, which could become part of a long-term development plan if resources can be established
– Following a marked downturn in exploration activity by other parties in the NT, substantial amounts of prospective acreage in the Georgina and Wiso Basins have become available. This allowed the company to make a number of significant new applications for exploration licences where indicated phosphate beds occur. These applications have also been motivated by infrastructure advantages.
About Rum Jungle Resources Limited
Rum Jungle Resources (ASX:RUM) is an Australian Securities Exchange listed, diversified junior explorer focused on highly prospective land located in Australia’s Northern Territory and Queensland.
A Northern Territory and Queensland focussed mineral explorer with a portfolio including: Uranium, Potash, Phosphate and Base Metals.
Rum Jungle Resources has strategic alliances with other major Northern Territory explorers increases exposure to additional exploration areas.
Rum Jungle Resources has experienced geological management backed up by a solid financial base to fund exploration budgets.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>