Where are no the only one surprised by the low share price

Rumble Resources (ASX:RTR):

The early call in April last year that Rumble (RTR) had made a likely world-class zinc-lead-silver discovery at its Earaheedy project 140km north of Wiluna in WA is proving to have been on the mark as more drilling results roll in.

Last year’s excitement at the project - Zenith (ZNC) has a 25% interest – was based on the impressive results at the Chinook prospect.

Because of the sediment-hosted and flat-lying style of the thing, it was possible early on for Rumble to issue a conceptual target for Chinook alone – and to a depth just 80m, which does not take in the potential of the deeper layers – of 100-120Mt at 3.5%-4.5% zinc-lead sulphide mineralisation.

So Chinook alone has scale. Now the joint venture has added to the Earaheedy story, with drilling outlining a major mineralised footprint at the Tonka and Navajoh prospects (4km apart but possibly merging in to one very large prospect), about 8km to the south-east of Chinook.

It goes to the expectation that Earaheedy is a base metals province in the making, with multiple large-scale deposits to be drilled up over time. Strangely though, Rumble has pretty much traded sideways at 45c since the initial flurry in the stock after the discovery was announced.

Doubly strange when zinc’s strong price performance on nagging supply fears is taken into account. The world faces shortages well before the end of the decade and new mine developments in Tier 1 locations is the answer.