The Rumble Resources (ASX:RTR) share price is surging 26% today

Rumble Resources Ltd (ASX: RTR) shares are soaring again today after news from the company of a $40 million placement.

The Rumble Resources share price is up 26.3% at the time of writing, trading at 70 cents apiece.

Today’s movement has left the Rumble Resources share price with an incredible 531% gain this month alone.

Let’s take a closer look at the placement announced by the mining company this morning.

$40 million placement

Rumble Resources broke the news this morning that it will conduct a placement to institutional and significant sophisticated investors. It hopes to raise $40.2 million before costs.

The company will issue 80.4 million shares within the placement, offered at 50 cents each. This is significant because,…