Quarterly Activities Report March 2014
Darwin, April 29, 2014 AEST (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 and these flagship projects are in prefeasibility and scoping study respectively. The company has sufficient cash reserves on deposit to ensure a timely delivery of its current objectives.
Highlights
- Ammaroo phosphate JORC 2012 resource increased to 1.08 billion tonnes P205 at an average grade of 14% P2O5 using a 10% cut-off or 338 million tonnes at 18% P2O5 using a 15% P2O5 cut-off
- Continued progress of the Ammaroo Phosphate prefeasibility study, in particular the production of rock concentrate products to enable production of a bulk sample, phosphoric acid and DAP/MAP production testing and holistic engagement with the global market during the next quarter
- The completion of baseline environmental studies and development of a Notice of Intent document to enable the commencement of the environmental approval process in April 2014, as per recent announcements
- Upgrade of Karinga Lakes brine potash resource and commencement of the scoping study in conjunction with the China International Chemical Consulting Corporation (CICCC)
- Achievement of 100% ownership of the Karinga Lakes project
- Share Purchase Plan raised $3.27 million in January net of costs
- Cash Balance $11.2 million consolidated
To view complete quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-405476.pdf
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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