Rumble Resources Limited (ASX: RTR), Part 1 of 2
Abstract
Rumble Resources Limited (ASX: RTR) owns the Western Queen Gold Project in the Yalgoo Mineral Field, north-west of Mt Magnet in Western Australia. The ground was mined by open pit and underground between 1998 and 2014, and the company gives past production as 215,000 ounces.[R1] It now holds a Mineral Resource of 5.13 million tonnes at 2.6 grams of gold per tonne for 433,600 ounces, of which 227,700 ounces are in the higher-confidence Indicated category.[R2] A Mineral Resource is gold estimated to be in the ground. In the Samso Gold Regions Series the company carries the label "Scoping study stage. Does not yet meet the near-term rule". The rule asks for a published feasibility study and a stated date for first gold. Rumble has neither.
The plan is an underground mine beneath the old Western Queen South pit, with the ore trucked about 180 kilometres to the Kirkalocka plant and treated for a fee. That arrangement is called toll milling. The only study is a Scoping Study of 27 November 2025, the least certain of the three study levels. It plans to mine 617,000 tonnes at 2.95 grams per tonne, holding 58,500 ounces of gold before plant losses, with starting capital of less than A$10 million and an all-in sustaining cost of A$2,970 an ounce, at a gold price of A$5,540 an ounce.[R3]
