Rumble Resources (ASX:RTR) said it is progressing its Western Queen Gold Project in Western Australia, with the first ore on track to be mined before the end of the year, according to a Friday Australian bourse filing.
It is currently conducting ore tolling and ore purchase talks with companies that operate gold processing plants near the project.
MEGA Resources prepared a preliminary mine schedule which was shared with Rumble to allow a preliminary economic model to be prepared. MEGA is also managing the entire permitting and approval process.
Bain Global Resources, MEGA, and Rumble are negotiating commercial arrangements including a joint venture agreement and a mining services agreement.
The talks have taken longer than anticipated due to structuring considerations and the need for independent tax advice, the filing said.
The parties have mutually agreed to extend the conditions precedent to execute these agreements until April 15.
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