Small fry happy to follow the right moves by: John Beveridge...

Small fry happy to follow the right moves by: John Beveridge From: Herald Sun December 06, 2011 12:00AM

A speculative buy.

One of my earlier speculative buys - Rum Jungle Resources -is looking better all the time.

Its Barrow Creek 1 phosphate deposit has firmed up to a 253 million tonne resource at an average grade of 15 per cent phosphate.

With the central Australian railway nearby, it is not far to Darwin and hungry Asian markets, which need phosphate to improve food production.

Rum Jungle moves to a speculative buy on the dips after a 22 per cent run yesterday.