Rumble Resources Ltd: Annual Report to Shareholders
02.10.2018 | ABN Newswire
Perth, Australia - Your Directors present the following report on Rumble Resources Ltd. (ASX:RTR) and controlled entities (referred to hereafter as "The Company") for the financial year ended 30 June 2018.REVIEW OF OPERATIONS
During the Period the Rumble Board continued to implement a clear strategy of organic growth via the generation of a pipeline of quality high grade base and precious metal projects, critical review against stringent criteria, provide optionality to complete low cost systematic exploration to drill test for high grade world class discoveries on multiple projects.
Rumble successfully completed a capital raise of $4.8mil which puts the Company in a strong cash position to execute the strategy. In a show of support for the strategy, subsequent to 30 June the Company's Directors converted $110,000 of options into ordinary shares in the Company at a 26% premium to the trading price at the time.
In line with the building a pipeline of high grade base metal projects that complement the Company's flagship Braeside High Grade Zinc-Lead project, In Australia Rumble secured options on the Munarra Gully high grade Cu-Au Project, Nemesis high grade Au project, Earaheedy High Grade Zn Project, Barramine High Grade Cu-Pb-Zn-Ag projects, In Canada the Company secured options over the Long Lake - Au-Cu-Ni-Nickel-PGM project and the Panache Co-Ni-Cu-Au-PGM project.
In Rumbles first 2 drill programs since the appointment of highly credentialed technical director Brett Keillor and implementing its new strategy, Rumble announced a new high grade Zinc Discovery at the Braeside project and a new Copper-Gold Discovery at the Munarra Gully project, highlighting the quality of the projects, the Company's technical capability and the strength of its ongoing strategy.
The Company believes that its combination of its clear strategy, corporate and technical capabilities, attractive capital structure, current cash position and access to capital makes it well placed to exponentially grow through systematic exploration on its first order projects and project acquisitions which is an exciting time for Rumble shareholders.
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About Rumble Resources Ltd:
Rumble Resources Ltd. (ASX:RTR) (FRA:20Z) is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current gold and base metal assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.
Source:
Rumble Resources Ltd.
Contact:
Shane Sikora Managing Director Email: enquiries@rumbleresources.com.au Phone: +61-8-6555-3980 Website: www.rumbleresources.com.au