Highlights

  • Rumble Resources and AIC Mines agreed to sell the Lamil Project to Aventine Resources.
  • The transaction includes A$500,000 cash, Aventine shares valued at A$600,000 and a 1% net smelter return Royalty.
  • Rumble’s portion includes A$250,000 cash, A$300,000 in Aventine shares and a 0.5% royalty.
  • The company said the divestment aligns with its focus on advancing core projects.
  • Rumble is prioritising the Western Queen, Earaheedy, Munarra Gully and Thunderstorm projects.
  • Completion remains subject to several conditions including regulatory and IPO-related approvals.

Rumble Resources Ltd (ASX:RTR) announced that it has entered into a Tenement Sale Agreement alongside joint venture partner AIC Mines Limited for the sale of the Lamil Project to Aventine Resources Limited. The transaction forms part of the company’s strategy to streamline its portfolio and focus on advancing several key gold, tungsten and base metals projects across Western Australia.

Rumble Resources shares were trading lower by 3.45% at AUD 0.056 during the afternoon session on 15 May 2026, although the stock remains up 88.67% over the past year.

Under the agreement, Aventine will acquire a 100% legal and beneficial interest in exploration licence E45/5271, which forms the Lamil Joint Venture project. In return, Rumble and AIC Mines will each receive cash consideration of A$250,000, Aventine shares valued at A$300,000 and a 0.5% net smelter return royalty.

Combined consideration for the transaction totals A$500,000 in cash, A$600,000 in Aventine shares and an aggregate 1% net smelter return royalty.

Rumble stated that completion of the sale remains subject to several conditions precedent, including heritage assignment requirements as well as ASX and IPO-related confirmations involving Aventine Resources.

Company Shifts Focus Toward Core Projects

Management indicated that the decision to divest the Lamil Project reflects the company’s intention to prioritise development and exploration efforts across its core asset portfolio.

Rumble Managing Director and Chief Executive Officer Peter Harold said the company is currently focused on progressing three major priorities, including bringing the Western Queen gold and tungsten project into production as soon as possible.

The company is also continuing work aimed at optimising the Earaheedy zinc-lead-silver project flowsheet to support separate zinc and silver-rich lead concentrates ahead of resource-to-reserve drilling and a future bankable feasibility study.

In addition, Rumble is advancing exploration activities across the Munarra Gully and Thunderstorm gold and copper projects.

According to management, progressing these projects simultaneously has reduced the company’s capacity to advance some of its other exploration Assets in a timely manner, leading to the decision to divest selected non-core projects beginning with the Lamil Joint Venture.

Rumble noted that it views the transaction as beneficial for both its own shareholders and future Aventine shareholders, while allowing the Lamil Project to continue progressing under a dedicated exploration-focused owner.

Transaction Structure and Conditions

The sale agreement involves the transfer of the Lamil Project exploration licence and associated geological information to Aventine Resources.

The Aventine shares to be issued as part of the consideration package will be valued based on the company’s intended IPO issue price.

Completion timing remains dependent on the satisfaction of all outstanding conditions precedent. These include heritage assignment steps and regulatory confirmations associated with Aventine’s proposed initial public offering and ASX listing process.

Rumble stated that completion is expected to occur within five Business days after the conditions are satisfied, unless otherwise agreed between the parties.

The company did not indicate any changes to its broader exploration or development schedules as a result of the transaction.

Aventine Resources Expanding Presence in Paterson Province

Aventine Resources is a private exploration company focused on gold and copper opportunities within Western Australia’s Paterson Province.

According to details released in the announcement, Aventine is assembling a large exploration footprint across the region and is targeting expansion toward approximately 1,800 square kilometres of tenure.

The company’s landholding is located near several significant gold and copper operations and discoveries including Telfer, Havieron, Winu and Minyari Dome.

Aventine stated that the Acquisition of the Lamil Project aligns with its strategy of building a district-scale exploration portfolio in the Paterson region.

Managing Director Benjamin Dunn said the company believes the Paterson Province remains one of the more prospective underexplored mineral regions globally and highlighted the technical team’s focus on pursuing new copper and gold discoveries.

Aventine also acknowledged the collaborative approach taken by both Rumble and AIC Mines during the transaction process.

Subject to regulatory approvals, Aventine intends to pursue an initial public offering and seek ASX admission during June 2026.

Western Queen and Earaheedy Remain Key Priorities

Rumble continues to position the Western Queen Gold and Tungsten Project as one of its primary development assets.

The company has previously indicated that Western Queen is being advanced toward near-term Cash Flow generation through development of existing resources and ongoing exploration aimed at resource growth.

Alongside Western Queen, the Earaheedy zinc-lead-silver project remains a major focus following previous exploration success within the region.

Rumble stated that current work at Earaheedy is centred on optimising the project flowsheet and progressing technical studies required ahead of future feasibility work.

The company also continues exploration efforts at Munarra Gully and Thunderstorm, which host gold and copper targets within Western Australia.

Management indicated that concentrating financial and operational resources on these projects forms part of a broader strategy to maximise value creation across its portfolio.

Rumble Maintains Broader Exploration Portfolio

Rumble Resources was established as an Australian mineral exploration company focused on identifying and advancing exploration opportunities primarily within Western Australia.

Since listing on the ASX in 2011, the company has built a diversified portfolio of gold, base metals and critical minerals projects.

Its project suite includes both development-stage assets and earlier-stage exploration opportunities.

Rumble highlighted that the discovery of the Earaheedy zinc-lead-silver project demonstrated the exploration capabilities of its technical team and reinforced the company’s focus on identifying large-scale mineral systems.

The company continues to pursue resource growth and development opportunities while also reviewing strategic Options across non-core assets where appropriate.

Investors Monitor Strategic Portfolio Management

While Rumble shares traded lower during Friday’s session, the latest announcement appears to reflect a broader portfolio management strategy rather than a material operational setback.

The divestment of the Lamil Project allows the company to redirect financial and operational resources toward its primary gold, tungsten and base metals assets, including projects closer to development or requiring ongoing technical advancement.

Investor attention is likely to remain focused on upcoming progress across Western Queen, Earaheedy and the company’s active exploration portfolio as Rumble continues refining its project pipeline.