Proactive’s Tylah Tully breaks down ‘Just the Facts’ from Rumble Resources Ltd latest ASX announcement.
It as secured a strategic investment from Bain Resources Holdings, an affiliate of India's major mining contractor BGR Mining and Infra Ltd. Bain has invested $1 million by purchasing 25 million shares at 4 cents per share. BGR Mining has a strong presence in the Indian mining sector, having completed over 50 projects and holding an order book of nearly US$11 billion.
BGR’s investment interest focuses on Rumble’s Western Queen gold project, which has 163,000 ounces of gold resources and historical production of 215,000 ounces. They are also interested in the Earaheedy zinc-lead-silver project, with inferred resources of 2.2 million tonnes of zinc, 700,000 tonnes of lead, and 12.6 million ounces of silver, potentially suitable for large-scale open-pit mining.
Rumble welcomes BGR's strategic involvement and looks forward to expanding their relationship.