Tribeca on board as Rumble Resources raises $9m ahead of 2026 gold production

• Rumble Resources raises $7m in placement, with Aussie resources fund Tribeca headlining institutional backers
• A one for 12 entitlement offer has also been launched for eligible shareholders to raise up to approximately $2m
• Fresh funds enable Rumble’s drilling, mining studies, pre-development works and tungsten metallurgical testwork at Western Queen

Special Report: Rumble Resources has pulled in up to $9 million through a strongly supported capital raise as the company targets H2 2026 production from its Western Queen gold and tungsten project.

The raise draws in new cornerstone investor Tribeca Investment Partners with a $2.8m commitment and positions Rumble (ASX:RTR) to accelerate drilling and de-risk development at the project in the well-serviced Mid West region of WA.

Rumble directors have also put their skin in the game as a show of their confidence in the potential of the project, a significant near-term gold and critical minerals operation.

The raise includes a $7m oversubscribed placement and a $2m entitlement offer, priced at 2.5c a share. Wilsons Advisory and MST Financial Services acted as joint lead managers to the placement.

Rumble is targeting first gold production from Western Queen in the second half of calendar 2026, pending approvals and a final investment decision. The latest news from the polymetallic play comes as gold cracks a new record and tungsten faces hot demand due to its use in defence applications and electronics.

Expansion drilling

Fresh funds have been earmarked by Rumble for extensional and infill drilling, mining studies, tungsten metallurgical work and pre-development activities.

Drilling contractors are being finalised ahead of an October start to a diamond drill program designed to extend the gold mineral resource estimate, which is currently 3.72Mt at 3.1g/t for 370,000oz of gold.

But comparisons have been made by the company to the geology at the massive Never Never and Peppers discoveries made by Spartan Resources at the Dalgaranga project in the same region of WA, and Western Queen remains open at depth.

The maiden tungsten resource is 4.31Mt at 0.31% tungsten trioxide for 13,200t WO3, at a 0.1% cut off grade. Within that are high-grade cores totalling 1.44Mt at 0.51% WO3 for 7400t WO3 at a 0.3% WO3 cut off. These remain continuous and open, offering strong potential for more resource growth in the critical mineral.

Looking ahead to production, Rumble has received a draft ore toll milling agreement with terms aligned to its internal studies — a key step towards finalising project economics.

Peter Harold, Managing Director and CEO, said: “It was pleasing to see strong support for the Placement which demonstrates the interest in our unique asset base and particularly the Western Queen gold and tungsten project, which is progressing towards development.

“The capital raising will enable us to advance the Western Queen mine development project, undertake an extensive resource extension and infill drilling program to add value for shareholders. I thank all those who participated in the Placement for their support to ensure Rumble is well funded to deliver on its stated goals.”

This article was developed in collaboration with Rumble Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.