RTR - Rumble Resources

[greggles]

RTR showing signs of forming a bottom at 25c. Price action now looks like consolidation. Sellers are few and far between, just waiting for a catalyst and with assay results not far away that should be fairly soon.

 

[Sean K]

RTR showing signs of forming a bottom at 25c. Price action now looks like consolidation. Sellers are few and far between, just waiting for a catalyst and with assay results not far away that should be fairly soon.

View attachment 144966

Agree. I think once they confirm Chinook runs into the tenement next door, which it almost certainly does, that means it could run all the way along to Sweetwater. That would potentially take them from 'huge' to 'giant' scale. The area I've put a blue box around below could all be mineralised. They do need large parts of it to be around yellow and ochre coloured grade though I think. Then add in Tonka.

I've found it hard to do my own rough calcs on the tonnage they already have due to the assay variations. The horizontal dimensions can be plucked but depths vary quite a bit as well as grades.

 

[finicky]

I haven't seriously looked at it, don't much go for Zn-Pb unless there is strong Ag associated like ADT,
However from the map the thickness of good grades is striking and the company is suggesting continuity suitable for a large open pit. Haven't seen yet the depths of the thick intersects. Info that I'll check out: Any metallurgy done. Any base metal producers in the area. Dilution and management obviously

Where you see the yellow arrowed line extending towards Stricklands (STK) drill results - that's where my company Gibb River (GIB) has a 20% jv stake with STK. Recently GIB made an announcement about STK starting to get the prospect moving again.

I'm not seeing enough for a bottom on a pure chart basis yet but concede @greggles point that more results (or something from left field) could catalyse a reversal in a blink. However just as a chart(s) the daily has been showing some positive momentum divergence that isn't showing up on a weekly chart yet. The daily s.p is still caught within a channel starting from Feb and would need to get above 29c currently to break out. The weekly is unprepossessing with moving averages not encouraging (yet) and the breakaway gap only half filled (doesn't have to fill but makes me leery)
Just my initial notions and I am now interested inthe stock, mostly due to mineralisation extent and thickness of grade.

Weekly

 

[greggles]

With a market cap of only $150 million RTR would be an attractive takeover target for a major looking for large deposits. Good grades, multiple open pit potential, RTR bears all the hallmarks of a relatively low cost operation with a long mine life. I'd bet there are bean counters working for majors running the ruler over RTR at current prices.

Hopefully it won't be a $150 million company for much longer. It seems very undervalued to me given its potential.

 

[Sean K]

At D&D

 

[frugal.rock]

My average in is $0.34

Originally was a trade (ages ago), but it went the wrong way and so I dumped most of it quickly.
Only down 25% on it ??

Holding residual 20k volume.

A good place to park cash said greggles.
If it gets to 25 cent, I might take out a line of credit against the house, said greggles.
How's that finance coming along greggles? ??

 

[Sean K]

I've done a pluck on the current resource at Chinook by simply adding together the assay's listed in the cartoon at post #122 above. Although it's not absolutely clear of the dimensions, the pluck is as foll:

Strike is 5000x2000m.
Total intercept depth on the cartoon is 486m/20 = 24.3m
5000x2000x24.3x2.5 = 607,500,000tn.
Average % grade is 4.68%.
607.5Mt@4.68% = 28.431Mt of Zn/Pb

LOL, that can not be correct as the company is only looking at an exploration target of 100-120Mt @ 3.5-4.5%.

I think the error is in all those numbers in that, it's not actually those dimensions and the width and grades are too high - I think the % grades are only in the ochre coloured areas. Need to go back to the drawing board...

 

[greggles]

A good place to park cash said greggles.
If it gets to 25 cent, I might take out a line of credit against the house, said greggles.
How's that finance coming along greggles? ??

I didn't mortgage the house. That was just a little hyperbole. But I did take a position at current levels and am feeling very confident. After spending quite a bit of time looking at the assay results and associated information, I reached the conclusion that Earaheedy is likely a monster deposit.

But that's just my opinion, and time will tell if I am correct.

 

[greggles]

Closed at its high for the day of 30.5c. Closing over 30c is a positive sign and may indicate that the next round of assay results are just around the corner.

 

[Sean K]

Closed at its high for the day of 30.5c. Closing over 30c is a positive sign and may indicate that the next round of assay results are just around the corner.

I was watching that today. Anything green today was worth keeping an eye on. Good sign.

 

[greggles]

I was watching that today. Anything green today was worth keeping an eye on. Good sign.

Of particular interest was the fact that of the 1.62 million shares traded today, almost 1.2 million were traded after 3pm. Someone came in late in the day and started swooping up shares. That's a clear indicator that news is likely due early next week.

 

[greggles]

No news today but up another 20% to 36.5c. Sellers in short supply. Something is going on.

 

[finicky]

I noticed that Stockhead did a promo for it as well as DEG and CHN over the weekend:

"Grand Sale! Grand Sale! Companies that have made three of the best discoveries in recent years are on sale at big discounts.

Garimpeiro is talking about De Grey (ASXEG) and its Hemi gold discovery in the Pilbara, Chalice (ASX:CHN) and its Julimar nickel-copper-PGE discovery on Perth’s doorstep, and Rumble (ASX:RTR) and its Earaheedy zinc-lead-silver discovery north of Wiluna.

All three are quality discoveries with world-class credentials. And before the broader market and commodity markets became weak at the knees in response to interest rate rises/recession fears, the average Joe had to pay up to have a slice of the action."

Barry FitzGerald: Gold! Big discoveries! Going cheap! Come and get your gold! - Stockhead

Grand Sale! Companies that have made three of the best gold discoveries in recent years are going cheap, on sale at big discounts.

stockhead.com.au

Not Held

 

[Sean K]

I noticed that Stockhead did a promo for it as well as DEG and CHN over the weekend:

"Grand Sale! Grand Sale! Companies that have made three of the best discoveries in recent years are on sale at big discounts.

Garimpeiro is talking about De Grey (ASXEG) and its Hemi gold discovery in the Pilbara, Chalice (ASX:CHN) and its Julimar nickel-copper-PGE discovery on Perth’s doorstep, and Rumble (ASX:RTR) and its Earaheedy zinc-lead-silver discovery north of Wiluna.

All three are quality discoveries with world-class credentials. And before the broader market and commodity markets became weak at the knees in response to interest rate rises/recession fears, the average Joe had to pay up to have a slice of the action."

Barry FitzGerald: Gold! Big discoveries! Going cheap! Come and get your gold! - Stockhead

Grand Sale! Companies that have made three of the best gold discoveries in recent years are going cheap, on sale at big discounts.

stockhead.com.au

Not Held

We may look back at the sell-off to June as an excellent opportunity to grab the likes of these three. They'll definitely turn into mines, it's just a matter of scale and time. Hard to pluck the potential size of Earaheedy as discussed. The exploration target seems very achievable on the dimensions of what they have so far with raising to 'giant' sized clearly possible.

Interesting they're trying to compare their deposit to Hermosa that S32 bought for almost $2b. It's much higher grade than what Earaheedy have so far, but it's going to be open pit so much lower capex/opex. Current MC under $200m, so if they get even half of the S32 deal that's a 5 bagger.

 

[Dona Ferentes]

5 day chart

 

[finicky]

@Sean K, I baulked at the S32 owned Hermosa comparison also. A big attraction of Hermosa (to me) is the massive silver component of the resource. Also one of the Hermosa deposits is around 9% Manganese. I wouldn't be surprised if the Hermosa project was further along in definition when purchased by S32.

 

[greggles]

I noticed that Stockhead did a promo for it as well as DEG and CHN over the weekend:

"Grand Sale! Grand Sale! Companies that have made three of the best discoveries in recent years are on sale at big discounts.

Garimpeiro is talking about De Grey (ASXEG) and its Hemi gold discovery in the Pilbara, Chalice (ASX:CHN) and its Julimar nickel-copper-PGE discovery on Perth’s doorstep, and Rumble (ASX:RTR) and its Earaheedy zinc-lead-silver discovery north of Wiluna.

All three are quality discoveries with world-class credentials. And before the broader market and commodity markets became weak at the knees in response to interest rate rises/recession fears, the average Joe had to pay up to have a slice of the action."

Barry FitzGerald: Gold! Big discoveries! Going cheap! Come and get your gold! - Stockhead

Grand Sale! Companies that have made three of the best gold discoveries in recent years are going cheap, on sale at big discounts.

stockhead.com.au

Not Held

RTR's market cap is less than one sixth of DEG, and less than one eighth of CHN. I'm not comparing the companies directly as it would be an apples and oranges comparison. But is is interesting to note that the article describes all three as having "discoveries with world class credentials".

The question is, how large will the deposit at Earaheedy end up being? It will take a lot of drilling for us to find out but based on the research I have done (and which @Sean K has posted in this thread) it looks like being a lot larger than it is currently estimated as being as of today. The assay results announced between now and the end of the year will be very revealing, and hopefully very good.

 

[greggles]

(and which @Sean K has posted in this thread)

Sorry, I didn't mean to say that @Sean K has posted my research. He has posted his own. Apologies for any confusion.

 

[Sean K]

As expected, Chinook looks like it does continue into the new tenament making this a very large footprint. Just hard to guage the consistency of the grades until they do some closer infill drilling.

 

[greggles]

As expected, Chinook looks like it does continue into the new tenament making this a very large footprint. Just hard to guage the consistency of the grades until they do some closer infill drilling.

Agreed, but it is a very good sign that all 36 RC holes at Sweetwater have intersected mineralisation. However, visual inspection and pXRF analysis can only reveal so much. Lab assay results first and then follow up infill drilling to revel the true extent of the mineralisation in that area.

It does look like RTR will get a small share price lift this morning as a result of this news.