Half Yearly Report and Accounts Dec 2014
Perth, Mar 13, 2015 AEST (ABN Newswire) - 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.
Health, Safety, Environment and Community
During the six months ended 31 December 2014 over 4,834 hours of field work was conducted and there were no LTI's recorded. There were no reportable environmental incidents during the half year.
Operating Result
The Group's loss after tax for the half year ended 31 December 2014 was $1,638,789 after impairment and write down of $590,422 in exploration costs (2013 loss $4,233,135). Corporate costs of $1,167,473 (2013 $2,321,707) decreased compared to the prior comparative half year reflecting non recurring advisory costs supporting the takeover for Central Australian Phosphate Limited and overheads incurred in the prior year. Exploration and evaluation (including studies) expenditure for the half year was $3,161,000 (2013 $4,073,000).
Phosphate
- Prefeasibility Study for the Ammaroo project was completed by Worley Parsons and announced to the ASX on 29th September 2014.
- Resource drilling was completed for 126 holes for 3,735 m and data utilised to join the eastern and western portions of the Ammaroo deposit.
- Exploration drilling northwest of the Ammaroo deposit was completed with 60 holes for 1,808m.
Potash
- Scoping Study for Karinga Lakes project was completed by China International Chemical Consulting Corporation (CICCC) and GHD Australia and announced to the ASX on 22nd December 2014..
- Lake Mackay maiden JORC brine resource of 13 million tonnes of K2SO4 was announced to the ASX on 9th September 2014.
- Lake Hopkins maiden JORC brine resource of 4.5 million tonnes of K2SO4 was announced to the ASX on 12th September 2014.
Corporate
- Mr Chris Tziolis appointed Managing Director 1st July 2014.
- Flagstaff Partners appointed November 2014 to assist with strategy and facilitating engagement with investors around development of Company projects.
Other
The Quarterly Activities Report for the period ended 31 December 2014 was released to the ASX on the 30th January 2015 and can be referred for further information and discussion on the Group's projects.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-420598.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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