Rumble Resources (ASX: $RTR) capital raising announcement

Rumble Resources Ltd (ASX: $RTR) has announced a capital raising of up to approximately $4.0 million, comprising an approximately $1.1 million placement and up to approximately $2.9 million entitlement offer. The funds will be utilized to advance metallurgical studies at the Earaheedy Project, drilling at the Western Queen Project, and mapping, geochemical sampling, and drilling at the Wardawarra Project.

Executive commentary on capital raising

Managing Director and CEO, Peter Harold, expressed satisfaction with the support received for the Placement, highlighting the interest in the company's unique asset base, including the potentially world-class Earaheedy Zn-Pb-Ag project, the Western Queen gold project, the Wardawarra lithium project, and other earlier stage exploration projects in Western Australia. He thanked the participants in the Placement and urged existing shareholders to take up their full entitlement to ensure the company is well funded to deliver on its stated goals.

Summary of Rumble Resources' capital raising and outlook

Rumble Resources Ltd (ASX: $RTR) has successfully secured firm commitments for approximately $1.1 million through an institutional placement and is set to offer a pro rata non-renounceable rights issue to raise up to approximately $2.9 million. The company aims to utilize the raised capital to advance metallurgical studies at the Earaheedy Project, drilling at the Western Queen Project, and mapping, geochemical sampling, and drilling at the Wardawarra Project. The Managing Director and CEO, Peter Harold, emphasized the significance of the support received and expressed confidence in the company's ability to add value for shareholders through the advancement of these projects. The announcement reflects Rumble Resources' commitment to its exploration and project advancement goals, positioning the company for future growth and development.