Completion of Underwriting of Options Expiring 31/5/12
Perth, June 5, 2012 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM) has today received $2,320,000 from each of Farjoy Pty Ltd and Washington H Soul Pattinson and Company Limited (ASX:SOL) as fulfilment of their obligation to underwrite the above options, which have expired and were not exercised.
Rum Jungle Resources Ltd currently holds $14.6M as cash on deposit that will ensure robust exploration and advancement of its projects in this difficult financial environment.
The company commends the approach by the underwriters to take on this financial commitment and looks forward to a sound relationship with its major shareholders.
The company is also pleased to note that the share register has been recently strengthened by the addition of Lion Selection Group Ltd and Acorn Capital Ltd as large shareholders, thereby increasing the institutional support for the company and its projects.
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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