Shares of IGO LTD (ASX: IGO) plummeted 7.51% in Monday's trading session, following news of the company's asset sale to Rumble Resources (ASX: RTR). The significant drop in IGO's stock price suggests investors may be reacting negatively to the divestment of the company's interest in the Thunderstorm Gold Project.

Rumble Resources announced that it has secured full ownership of the Thunderstorm Gold Project after agreeing to acquire the remaining 70% interest in three Fraser Range tenements from IGO. The acquisition is valued at $300,000 in Rumble shares, based on a five-day volume-weighted average price. Additionally, the deal includes a 1.05% net smelter return royalty over the tenements for IGO.

While the asset sale allows IGO to monetize its non-core assets, the market's reaction indicates that investors may be concerned about the company's growth prospects or the perceived value of the divested assets. The sharp decline in IGO's stock price suggests that shareholders might view this transaction as unfavorable for the company's long-term strategy or financial position. As trading continues, investors will be closely monitoring any further statements from IGO management regarding the rationale behind this asset sale and its potential impact on the company's future performance.