Ann: Ammaroo Phosphate Resource Update Oct 2014, page-8

yes but with the dilution you must factor in the CEN/NUP takeover.
RUM is diluted, meaning more shares on issue, but the share price represents a share of a company that is much more asset rich than 2011.

IMO 30c is still cheap. having said that, market isn't long term thinking, and if a JV partner wanted in at 30c a share, it would be worth it just because despite the good surrounding infrastructure (rail) , to mine the stuff would cost a fortune.

sorry i posted before as not held, i do hold RUM. I was a CEN/NUP holder till the takeover.