Up 760% in a year, the Rumble Resources (ASX:RTR) share price is falling today

The Rumble Resources (ASX: RTR) share price is edging lower in morning trade. We take a look at the ASX resource company's latest report.

industrial asx share price on watch represented by builder looking through magnifying glass

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Rumble Resources Ltd (ASX: RTR) shares have had a bumper 12 months but are edging lower today. At the time of writing, the Rumble Resources share price is trading 0.81% lower at 61 cents. 

This comes after the ASX resource company's latest activities report for the quarter ending 31 March. Let's take a look at how it's been performing.

Quarterly highlights

The Rumble Resources share price is slumping today after the company updated investors on its continuing program to advance its projects across Western Australia.

Rumble Resources highlighted the major zinc-lead discovery it reported to the market on 19 April. The confirmed discovery at its Earaheedy Project in Wiluna followed 3,593 metres of reverse circulation (RC) drilling. The Rumble Resources share price leapt 90% during intraday trading on the day of the announcement as ASX investors digested the news.

The company also reported that 18,776 metres of phase 3 resource drilling have been completed at its Western Queen Gold Project in Mt Magnet. Assays for the maiden gold resources are pending.

Meanwhile, an airborne electromagnetic (EM) survey is planned at the company's Warroo Cu-Zn-Pb-Ag-Au-U-Pt Project in East Pilbara in the June quarter. Rumble is targeting large scale Cu-Zn-Pb-Ag volcanogenic massive sulfide (VMS) ore deposits. It stated the area has the potential to become a new VMC province.

Also in the pipeline for the June quarter are exploration programs at Rumble's Fraser Range Ni-Cu-Au JV Project. Drilling at the Thunderstorm Au-Cu Project will be targeting 'tier 1' gold deposits. Drilling at the Thunderdome Ni-Cu Project will target large scale nickel-copper deposits.

The company ended the quarter with $3.3 million of cash and $266,000 in listed investments.

During the quarter, on 28 April, Rumble Resources also raised $40 million at 50 cents per share, supported by new institutional and sophisticated investors. That's 11 cents per share less than the current Rumble Resources share price.

The company plans to use the proceeds to advance its projects across the board, with a focus on accelerating its exploration program at the Earaheedy Project.

Rumble Resources share price snapshot

It's been a great year for Rumble Resources shareholders, with shares up 757% over 12 months. By comparison, the All Ordinaries Index (ASX: XAO) gained 36% over that same time.

Year to date, the Rumble Resources share price has continued to rocket, with shares having gained 400% so far in 2021.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Resources Shares

Miner looking at a tablet.
Resources Shares

Does Macquarie rate Fortescue shares a buy, hold or sell?

Down 42% in a year, does Macquarie think Fortescue shares are now a good buy?

Read more »

Cheerful businessman with a mining hat on the table sitting back with his arms behind his head while looking at his laptop's screen.
Resources Shares

Rock solid: How have mining and metals shares fared in 2025?

Who is leading so far?

Read more »

Miner looking at a tablet.
Resources Shares

Mineral Resources share price slides despite significant reserves growth

An 89% resources upgrade hasn’t boosted Mineral Resources shares today.

Read more »

Copal miner standing in front of coal.
Resources Shares

How much upside does Macquarie tip for New Hope shares?

A softer-than-expected quarter has impacted the broker's view.

Read more »

2 people at mining site, bhp share price, mining shares
Resources Shares

Rio Tinto share price pushes higher on $1.4 billion lithium agreement

Rio Tinto shares are gaining major lithium exposure.

Read more »

Miner looking at a tablet.
Resources Shares

Up 73% since April, why Mineral Resources shares could keep charging higher

A leading expert says that Mineral Resources shares remain ‘heavily undervalued’. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Resources Shares

Guess which ASX 200 mining stock is sinking 7% following its quarterly update

Let's see how this miner performed during the third quarter.

Read more »

Miner looking at a tablet.
Resources Shares

What's the latest broker ratings on BHP shares?

There's an air of caution floating about BHP shares even with bullish ratings.

Read more »