Letter to Shareholders - Takeover Offer for CEN
Perth, Mar 11, 2013 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM) announced its intention to make an off-market takeover bid to acquire all of the ordinary shares in Central Australian Phosphate Limited.
Central Australian Phosphate (ASX:CEN) is an exploration company, focused on exploration in the Northern Territory. Its project portfolio includes the Aileron Project, the Arganara Project, The Lucy Creek Project, the Strangways Project, and the Westmoreland Projects and the Warrabri Project.
The Arganara Project, which is adjacent to your company's Barrow Creek 1 Project, together, appears to form a single geological entity. The combined Measured, Indicated and Inferred Resources of this single geological entity is in excess of half a billion tonnes of phosphate rock grading 14.8% P2O5.
The Company continues to progress the scoping study relating to the Barrow Creek 1 Deposit. This scoping study remains on schedule to be completed by end of March 2013.
For more details about the proposed offer for Central Australian Phosphate and the potential benefits of a combined company, please find enclosed the Company's 13 February 2013 announcement.
To View Diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-387004.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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