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.
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About Rum Jungle Resources Limited:
Rum Jungle Resources (ASX:RUM) is an Australian Securities Exchange listed, diversified junior explorer focused on highly prospective land located in Australia’s Northern Territory and Queensland.
A Northern Territory and Queensland focussed mineral explorer with a portfolio including: Uranium, Potash, Phosphate and Base Metals.
Rum Jungle Resources has strategic alliances with other major Northern Territory explorers increases exposure to additional exploration areas.
Rum Jungle Resources has experienced geological management backed up by a solid financial base to fund exploration budgets.
Rum Jungle Resources Limited T: +61-8-8942-0385 F: +61-8-8942-0318 WWW: www.rumjungleresources.com.au
Rum Jungle Resources Limited
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