Rum Jungle Resources Limited (ASX:RUM) notes that the shares of Central Australian Phosphate Limited (ASX:CEN) are in trading halt at the request of CEN, pending the release of an announcement by CEN regarding a Joint Venture Proposal received from RUM.
RUM confirms that it has put a non-binding proposal to CEN for CEN and RUM to form a joint venture in respect of certain of their respective phosphate resources for discussion. RUM understands that its proposal is being considered by the board of CEN. However, there is no certainty that the proposal will eventuate in the parties reaching agreement.
RUM confirms that the status of its takeover bid for CEN is not affected by the proposal, and RUM encourages CEN shareholders to accept its takeover offer as soon as possible.
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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