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VRM - Verdant Minerals

springhill

Make the drill work for YOU
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Rum Jungle has turned it's eye from it's uranium based projects towards potash and phosphate projects in the NT.
With BHP's takeover attempt at Potash Corp, this may be good timing to have a look at RUM.

Potash RUM 50%
During the last quarter 62 brine samples were taken from Karinga Creek salt lakes, with best results 12100mg/l K, 20370mg/l Mg & 57580mg/l sulphate and 8300mg/l K, 10700mg/l Mg & 47800mg/l sulphate.
These figures seem low compared to Orocobre's Salinas Grandes best results of 49720mg/l K, with average results of 16394mg/l K.
It is unclear to me what compound of potash ORE is targeting, but RUM aim to produce Potassium Sulphate, which sells at $1200/t compared to Muriate of Potash $900t, ex Kwinana.

I am unsure how these results collate to deposits of KCl, so any help there would be appreciated. It seems that world class deposits of KCl generally grade around 20-28%KCl.
I do know that 10000mg/l = 1%.
RUM's K percentages alone seem small, but combined with the sulphate changes the equation to a more respectable percentile.
I'm probably batting out of my league here, so maybe a Geo could help with a possible resource percentile?

Phosphate RUM HoA with Aragorn for 60% interest over 5 years with a spend of $3m on the project.
Drilling last year by Aragorn on the Ammaroo Phosphate Project intercepted results of;
19m @ 11.0% P2O5 from 35m
13m @ 14.2% P2O5 from 23m
20m @ 16.7% P2O5 from 34m
11m @ 12.2% P2O5 from 25m
RUM plan to explore the western edge of the tenemant, attempting to bring the resource closer (65km distance) to the established Central Australia Railway Line.
According to Wiki, some scientists believe that "Peak Phosphorus" will occur in 30 years, and at current rate of consumption stocks will be depleted in 50-100 years.

MC $9m
Current SP 7.3c
Shares on Issue 125m
12mth High/Low 15c/4c
Cash at hand $4.7m
Expenses this Quarter $1m

Has recently bounced off lows of around 4c as announcements of potential potash and phosphate deposits have aroused some interest.
 
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Re: RUM - Rum Jungle Uranium

i certainly hope you picked some up back then when they were trading at 7.3c!

RUM have hit 33.5c today, bouncing from low 20's last week. i do not know much about the company, the ammaroo phosphate project has only just been bought to my attention. im surprised there are not more people posting on this stock, volumes are running hot! any thoughts from fellow investors?

brendoz
 
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Re: RUM - Rum Jungle Uranium

my thought is I wish i bought some about four weeks ago... no news out.. will keep an eye on it from tomorrow..
 
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Re: RUM - Rum Jungle Uranium

NEWS:Acquisition of 100% Interest in Ammaroo Phosphate Discovery

http://www.asx.com.au/asxpdf/20110112/pdf/41w4tg0pj79f3x.pdf

Big leak here, insiders could get burned today.

AAG have 8 milllion shares that they can sell, they require cash and I think this will hold this back for a while.

But the positives outweigh the negatives, 100% ownership, no required spend (only 1m to AAG), and now hopefully a big playing JV partner will pop on board in the near future.

Phosphate results a wee while away yet I would think.

VERY interested to see what happens today, I have my money on a sell of, but my actual money wants more buying... ;)
 
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Re: RUM - Rum Jungle Uranium

Hello RUM holders.


Chart updated.
17-02-2011 2-49-44 PM.jpg

Picture perfect increasing volume, increasing price. getting a little rapid.
Would have to be a good stock to trade in and out of, repeated patterns of volume and price spikes. It bites.
 
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Re: RUM - Rum Jungle Uranium

Hello RUM holders.


Chart updated.
View attachment 41426

Picture perfect increasing volume, increasing price. getting a little rapid.
Would have to be a good stock to trade in and out of, repeated patterns of volume and price spikes. It bites.
That certainly seems to be what a lot of the other players are doing.

I sold down a few days ago, I didn't feel so comfortable with the volatility. Now holding a smaller parcel which I'm more comfortable with.

Thought there may have been some news out or something? RUM seem pretty excited about there prospects Re: ASX Media Release in Dec

Happy to Hold
 
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Re: RUM - Rum Jungle Resources

Had to get on today at .125c something in my stomach that told me to jump on,been following for a while but when Washington H Soul Paterson are involved [Robert Milliner] that made my investment choice a bit easier Ala NHC also China needs what RUM has to mine :)
 

System

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On December 5th, 2016, Rum Jungle Resources Limited (RUM) changed its name and ASX code to Verdant Minerals Limited (VRM).
 

System

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On June 21st, 2019, Verdant Minerals Limited (VRM) was removed from the ASX's Official List in accordance with Listing Rule 17.11 following implementation of the scheme of arrangement between VRM and its shareholders in connection with the acquisition of all the issued capital in VRM other than those held by Washington H. Soul Pattinson and Company Limited by CD Capital Natural Resources Fund III LP in accordance with Listing Rule 17.11 after security holders resolved to remove VRM from the Official List.
 

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