unsolicited enquiry for phosphate

Operations Update for Korab Resources Ltd (KOR) on Friday 30th May:

"Korab is pleased to announce that it has received an unsolicited enquiry from one of the major Asian phosphate distributors for a supply of rock phosphate rock from Geolsec at a rate of 225,000 - 250,000 tonnes per year of direct shipping phosphate rock over a multi-year period. Korab is currently negotiating the final terms of this potential transaction".

The location of the Geolsec project is a closer to Darwin than RUM's main deposit, but this highlights that there is interest in phosphate deposits in the NT. I note that according to announcement Rum Jungle has a deposit just next door to Geolsec, 'Greek South Lake'.

Another acquisition target for RUM? Market cap of KOR doesn't look very big. TFP