Rumble Resources Limited (ASX: RTR) announced on 15 May 2026 the sale of its 50% interest in the Lamil Joint Venture (Exploration Licence E45/5271) to Aventine Resources Limited. Rumble Resources Ltd is an Australian based exploration company focused on adding significant value to its mineral exploration assets and identifying acquisition opportunities in Western Australia. The transaction sees Rumble and its joint venture partner, AIC Mines Limited (ASX: A1M), agree to divest their collective 100% interest in the Lamil Project, located in Western Australia.
The total consideration for the Lamil Project sale includes A$500,000 in cash, Aventine shares valued at A$600,000, and an aggregate 1% net smelter return royalty. Specifically, Rumble will receive A$250,000 in cash, Aventine shares worth A$300,000 (calculated using Aventine’s IPO share price), and a 0.5% net smelter return royalty. Completion of the sale is contingent upon the satisfaction of certain conditions precedent, including heritage assignment steps and confirmations related to Aventine’s ASX listing and Initial Public Offering.
Peter Harold, Managing Director and CEO of Rumble Resources, stated that the divestment aligns with the company’s strategic priorities. He highlighted a focus on bringing the Western Queen gold and tungsten project into production, optimising the Earaheedy flowsheet for zinc and silver-rich lead concentrates, and advancing the Munarra Gully and Thunderstorm gold and copper projects. Mr Harold noted that the Lamil joint venture was a non-core exploration project, and this divestment allows the company to concentrate resources on its primary ventures.
Aventine Resources, a private gold-copper exploration company targeting the Paterson Province, intends to undertake an initial public offering and seek admission to the ASX in June 2026. Benjamin Dunn, Managing Director of Aventine Resources, commented that the Lamil Project represents an excellent strategic fit within Aventine’s growing Paterson Province portfolio, complementing their existing landholding and reinforcing their strategy of assembling high-quality exploration ground.
