A formal investment process is now underway with a view of establishing a joint venture and associated off take agreements with a fertiliser industry investor to take the project forward to bankable feasibility study and development.
Rum Jungle Resources Limited
Rum Jungle Resources Ltd (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.
Rum Jungle Resources Limited's (ASX:RUM) focus remained on exploration and evaluation of it's key projects with the objective of establishing and continuing studies for the development of phosphate and potash fertiliser businesses.
Rum Jungle Resources Ltd's (ASX:RUM) strategic intent is to find, develop and operate fertiliser mineral projects located in close proximity to existing Central Australian transport infrastructure.
Rum Jungle Resources Limited (ASX:RUM) announce that completion of the Karinga Lakes Potash project scoping study supports the potential for future development of the Karinga Lakes potash project to produce either a sulphate of potash fertiliser or an intermediate product, a potassium magnesium sulphate fertiliser.
Rum Jungle Resources Limited (ASX:RUM) is pleased to announce an updated Ammaroo Phosphate resource estimate. This upgrade is the result of the reconciliation of identified cultural exclusion zones that has recently been conducted in conjunction with the Central Land Council.
Rum Jungle Resources Limited (ASX:RUM) AGM Chairman's Speech: David Muller
As highlighted in Rum Jungle Resources' (ASX:RUM) 29 September announcement of the results of the Ammaroo Phosphate Project pre-feasibility study, in order to take one of the development options forward to a bankable feasibility study, it will be necessary to secure funding through the establishment of a joint venture and associated off-take agreements.
The company has recently signed a contract with a United States-based geophysical contractor to complete a rock microfracture leakage study over parts of the Karinga Lakes Project. Geoflite is a low altitude multispectral, fracture detection system used to generate high resolution airborne data to map rock microfractures in detail
Rum Jungle Resources Ltd has significant resources of both phosphate and potash. The Company's flagship projects, the Ammaroo Phosphate and Karinga Lakes Potash projects are in prefeasibility and scoping study respectively. The company has sufficient cash reserves on deposit to undertake its current medium term strategic objectives.
After establishing a world class resource of phosphate at Ammaroo in the Northern Territory Rum Jungle Resources Limited (ASX:RUM) then completed a successful takeover of Central Australian Phosphate more than doubling the resource into excess of one billion tonnes of phosphate rock.