Phosphate latest craze for investors

PURE SPECULATION: Robin Bromby

NO sooner does one mania finish, it seems, than another one is off to the races.

There was the uranium craziness, followed by mini-manias for various specialty metals and iron ore juniors. Millions of dollars was thrown at them all, but it appears that punters want to roll the dice one more time.

This time it's phosphate. Look what happened with Uramet Minerals (URM) and Krucible Metals (KRM) in the past few days. The former's stock shot up to an intraday gain of 250 per cent after it announced finding phosphate in grab samples at its Thorntonia project north of Mt Isa and — more importantly — next to the Lady Annie deposit controlled by Joseph Gutnick….more at The Australian Business