Joint Venture Proposal with Central Australian Phosphate Limited (ASX:CEN)
Perth, June 13, 2013 AEST (ABN Newswire) - Rum Jungle Resources Limited (ASX:RUM) notes that the shares of Central Australian Phosphate Limited (ASX:CEN) are in trading halt at the request of CEN, pending the release of an announcement by CEN regarding a Joint Venture Proposal received from RUM.
RUM confirms that it has put a non-binding proposal to CEN for CEN and RUM to form a joint venture in respect of certain of their respective phosphate resources for discussion. RUM understands that its proposal is being considered by the board of CEN. However, there is no certainty that the proposal will eventuate in the parties reaching agreement.
RUM confirms that the status of its takeover bid for CEN is not affected by the proposal, and RUM encourages CEN shareholders to accept its takeover offer as soon as possible.
About Verdant Minerals Ltd
Verdant Minerals Ltd's (ASX:VRM) strategic intent is to create shareholder value through the discovery, development and operation of fertiliser and industrial mineral projects, located in close proximity to existing transport infrastructure, with a primary focus on the Northern Territory of Australia.
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