....The point im trying to make is that molasses is not foul tasting until it is used to make rum in my own opinion. if you do go down the route of trying bear in mind it is a spirit and is illegal to make it so don't get caught and weather it turns out nice at the end or not can be called rum remains to be seen .....
The reason I questioned whether it could be called rum or not is because I thought the very definition of rum (not just a common recipe) was that it was distilled from cane molasses. I imagine I could easily be wrong though. Especially when I think of modern vodkas being distilled from grain rather than potatoes (although not the good vodkas)