Stonegate Agricom Ltd, a Toronto Stock Exchange company appears to be at a similar level of development as RUM.
Stonegate’s average Phosphate Rock Concentrate is stated as being similar to the Moroccan / Western Sahara resource of 32 – 33% P2O5 . Far superior to what RUM has.
Refer: http://www.stonegateagricom.com
RUM is quoted at 1.08 billion tonnes P205 at an average grade of 14% P2O5 using a 10% cut off or 338 million tonnes at 18% P2O5using a 15% P2O5 cut-off.
World Phosphate Rock Reserves are currently estimated to be 71,000 million tonnes with demand running at about 200 Million tonnes a year. These reserves alone should last for more than 300 years on current demand. (FAO forecasts global fertilizer consumption to grow by 45% between 2005 and 2030)
I can't help asking the question as Chris Tziolis would have known all of this, why did he link up with Rum Jungle ?
What do others think ?
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