Rumble Resources and AIC Mines have agreed to sell their combined 100% interest in the Lamil Project to Aventine Resources for A$1.1 million plus royalties, as Rumble sharpens focus on core assets.
- Lamil Project sold for A$1.1 million plus 1% royalty
- Rumble receives A$550,000 and 0.5% royalty
- Sale completion depends on heritage and ASX approvals
- Aventine targets ASX IPO in June 2026
- Rumble prioritises Western Queen and other key projects
Rumble Divests Lamil to Focus on Core Projects
Rumble Resources Limited (ASX:RTR) and joint venture partner AIC Mines (ASX:A1M) have agreed to sell their entire interest in the Lamil Project (Exploration Licence E45/5271) to Aventine Resources Limited for a combined consideration of A$1.1 million plus a 1% net smelter return royalty. Rumble’s share of the deal comprises A$250,000 in cash, A$300,000 worth of Aventine shares (priced at Aventine’s forthcoming IPO level), and a 0.5% royalty on future production.
Managing Director Peter Harold framed the sale as a strategic move to free up resources and management bandwidth. With Rumble pushing to bring the Western Queen gold and tungsten project into production and optimise the Earaheedy zinc-lead-silver flowsheet, the company is shedding non-core assets to maintain momentum on its highest priority developments. This divestment marks the first in a planned series of project sales.
Aventine’s Entry into Paterson Province Exploration
Aventine Resources, a private gold-copper exploration company focused on the Paterson Province in Western Australia, views the Lamil acquisition as a strategic fit to its growing portfolio. The company is assembling a landholding near tier-one deposits such as Telfer and Havieron, aiming to leverage its management team’s experience to unlock new discoveries. Aventine plans to list on the ASX in June 2026, with the IPO proceeds expected to accelerate exploration activities across its holdings.
Benjamin Dunn, Aventine’s Managing Director, highlighted the Lamil Project’s potential to deliver another significant discovery in a globally underexplored mineral province. The transaction’s completion is contingent on heritage assignment steps and ASX and IPO-related confirmations, with closing expected shortly after these conditions are met.
Implications for Rumble’s Growth Strategy
Rumble’s divestment of Lamil aligns with its recent drilling successes and development focus at Western Queen. The company has reported multiple high-grade gold and tungsten intercepts, underpinning an advancing feasibility study and plans for near-term production. The sale proceeds and royalty stream from Lamil provide additional capital and optionality as Rumble accelerates its core projects, including the Earaheedy Zn-Pb-Ag project and the Thunderstorm Au-Cu and Munarra Gully projects.
This shift in portfolio emphasis follows a series of encouraging drilling results at Western Queen Central, where high-grade gold intercepts over substantial widths have been reported, supporting an upcoming resource upgrade and scoping studies for tungsten production. The divestment of Lamil thus frees up capital and management attention to further these developments and related processing optimisation efforts.
The deal also reflects a broader industry trend where junior explorers refine their asset bases to concentrate on projects with the highest near-term value potential, while emerging companies like Aventine leverage IPO capital to chase district-scale discoveries in prolific regions.
Bottom Line?
Rumble’s sale of Lamil to Aventine crystallises value from a non-core asset, enabling sharper focus on advancing Western Queen and Earaheedy, while Aventine’s IPO will be critical to funding its exploration ambitions in the Paterson Province.
Questions in the middle?
- Will Aventine’s IPO deliver sufficient capital to unlock Lamil’s exploration potential?
- How will Rumble deploy proceeds and royalties to accelerate Western Queen’s production timeline?
- Could the Lamil sale signal further divestments from Rumble’s portfolio in 2026?