Rum Jungle Resources Ltd has significant resources of both phosphate and potash. It has significant cash reserves on deposit to ensure a timely delivery of its objectives.
- The company raised $9.88M by a placement to Australian institutions thereby increasing the total institutional backing of the company to over 35% of the issued capital
- A Share Purchase Plan (SPP) is also current allowing shareholders the opportunity to invest in the company under the same terms as its institutional investors. The SPP closes on January 15
- The largest and most influential Chinese government owned chemical consulting corporation (CICCC) has undertaken to do a prefeasibility study (PFS) on the brine lakes potash project at Karinga in the NT
- A report recently released by Geoscience Australia has highlighted the possibility of substantial potash resources within some of the major salt lakes in arid parts of Central Australia. The company has moved quickly to apply for large areas over Lake Amadeus in the NT and Lake Torrens in SA, which could become part of a long-term development plan if resources can be established
- Following a marked downturn in exploration activity by other parties in the NT, substantial amounts of prospective acreage in the Georgina and Wiso Basins have become available. This allowed the company to make a number of significant new applications for exploration licences where indicated phosphate beds occur. These applications have also been motivated by infrastructure advantages.
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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.
Verdant Minerals Ltd