SOL have made a bid for EXS. They had positioned themselves well for it by holding over 7.35% as at 30/9/11.
With RUM they have an even better position with 12.7% of the company.
I also noticed that RUM have appointed a director of development projects. With high grade phosphate results and a 1billion tonne resource that is close to railway, Rum is the best position company in Australia to get into production its phosphate resource.
Sooner or later SOL will be making a decision, does it help fund the development to get into production or does it just make a play for the whole company.
Given that their holding 12.7% you know they aren't here to just sit back and watch.
RUM Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held