Preheat the oven to 325 degrees Fahrenheit. A bundt pan should be greased and floured. Remove from the equation.
Combine flour, baking powder, and salt in a large mixing basin. Remove from the equation.
At low speed, cream together butter and shortening in a large mixing bowl.
Alternate adding the eggs and sugar, mixing just until mixed after each addition, until the batter is bubbly.
Combine the vanilla and rum extracts in a mixing bowl.
Alternate adding the dry ingredients and buttermilk to the wet ones until the batter is mixed and fluffy.
To expel any air bubbles and level the top, spoon batter into the prepared pan and shake the pan a few times.
Bake on the middle rack for 1 hour and 15-20 minutes, or until a cake tester inserted into the center comes out clean or with moist crumbs adhering to it.
Remove the cake from the oven and poke holes in it with a fork, taking care not to go all the way through. Set aside some time
Melt butter in a saucepan over medium low heat to produce the syrup. Stir in the sugar and water until the sugar is completely dissolved.
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