{"id":12556,"date":"2024-09-29T22:26:01","date_gmt":"2024-09-30T02:26:01","guid":{"rendered":"https:\/\/economicherald.net\/?p=12556"},"modified":"2024-09-29T22:26:01","modified_gmt":"2024-09-30T02:26:01","slug":"rumble-resources-gets-huge-strategic-backer","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=12556","title":{"rendered":"Rumble Resources gets huge strategic backer"},"content":{"rendered":"<p>Rumble Resources gets $1m investment from Bain Resources Holdings (BRH)<br \/>\nBRH is associated with major Indian mining contractor, BGR Mining and Infra Limited<br \/>\nThe company was particularly attracted to Rumble\u2019s Western Queen gold project, as well as the Earaheedy polymetallic project<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Rumble Resources has attracted a $1m investment from Bain Resources Holdings, a company associated with the large Indian mining contractor, BGR Mining and Infra Limited.<\/strong><\/p>\n<p>BRH has subscribed for 25 million shares in <a href=\"https:\/\/stockhead.com.au\/?s=RTR\">Rumble (ASX:RTR)<\/a> at 4 cents per share for a total investment, with the shares to be issued under its existing placement capacity.<\/p>\n<p>Peter Harold, managing director and CEO said: \u201cWe are privileged to have one of the largest mining contractors in India, through an associate company, become a significant shareholder in Rumble.<\/p>\n<p>\u201cBGR Mining and Infra Limited have been keen to expand their activities outside of India and we are delighted they have chosen to make a direct investment in Rumble.<\/p>\n<p>\u201cBGR are particularly interested in our Western Queen gold project for its near-term cash flow and resource growth potential.\u201d<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/rumble-resources-eyes-new-gold-potential\/\">Western Queen<\/a> has existing resources of 163,000oz averaging 2.4g\/t, with historical production of 880kt at 7.6g\/t for 215,000oz.<\/p>\n<p>Rumble also confirmed a <a href=\"https:\/\/stockhead.com.au\/resources\/rumble-resources-on-a-huge-tungsten-roll\/\">significant discovery of the critical mineral tungsten<\/a> at the project earlier this month.<\/p>\n<p>\u201cBGR is also interested in our <a href=\"https:\/\/stockhead.com.au\/resources\/rumble-resources-getting-ready-to-rock\/\">Earaheedy zinc-lead silver project<\/a>, given the size of the 100% inferred resource at 2.2 million tonnes of zinc, 700,000 tonnes of lead and 12.6 million ounces of silver and the potential for it to be a large scale, open pit mining and processing operation in the future,\u201d Harold said.<\/p>\n<p>\u201cWe look forward to a long and mutually beneficial relationship with BGR.\u2019\u2019<\/p>\n<p>BGR is a major player in the Indian mining industry having executed more than 50 projects. Its current order book is close to US$11 billion.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Rumble Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/rumble-resources-gets-huge-strategic-backer\/\">Rumble Resources gets huge strategic backer<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Rumble Resources gets $1m investment from Bain Resources Holdings (BRH) BRH is associated with major Indian mining contractor, BGR Mining and Infra Limited The company <a href=\"https:\/\/economicherald.net\/?p=12556\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":12557,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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