Rumble Resources Unit Sells Net Smelter Return Royalty on Gold at Western Australia Project; Shares Up 6%

-- Rumble Resources' (ASX:RTR) Western Queen subsidiary entered into a transaction with an Elemental Royalty unit, under which Elemental Royalty will pay Western Queen up to AU$10 million to acquire a 2.5% net smelter return royalty on gold production from the Western Queen project in Western Australia, according to a Monday filing with the Australian bourse.

The consideration includes AU$5 million on signing of the royalty agreement and deed, and AU$5 million on execution of the tolling milling agreement, the filing said.

Rumble Resources shares rose 6% in morning trade on Monday.