We just had a Potash upgrade at Karinga Creek but more importantly the Barrow Creek resource is currently in the process of being significantly upgraded just in time for the AGM.
The charts are starting to look pretty good, the SP is gradually building as news on the quality of these results leaks.
This next upgrade will not only increase the total size of the resource but the quality. The close-spaced grid drilling at 100 m x 100 m and 50 m x 50 m centres should be sufficient for Indicated and Measured Resource status under JORC.
This is extremely important as its the next step in obtaining finance from the banks to start up the production process.
Once this indicated and measured resource is JORC confirmed we will get a lot more information about the production process & costs. I'm sure a lot more will be revealed at the AGM in the next couple of weeks.
In the mean time if people require more information I suggest they contact the company and have a chat like I did. Or just have a look at pg 23 of the Chinese presentation for starters.
RUM Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
