A West Australian nickel exploration company has hired former coal billionaire Nathan Tinkler as its new corporate advisor.
Rumble Resources will pay Tinkler in share options, and say he is strongly incentivised to grow the value of the company.
Commenting on the appointment, Rumble CEO Shane Sikora said Tinkler had a track record of creating significant shareholder value in both private and public companies.
“In addition, his experience in large-scale financial raising will be of great benefit to Rumble shareholders,” Sikora said.
Tinkler’s previous experience has been in the coal market.
Debuting on the BRW Rich List in 2008 with $426 million at the age of 32, Tinkler built his fortune to almost $1.1 billion before a very public collapse of fortunes just years later.
Forced to sell his majority stake in Whitehaven Coal for just $300 million in 2013 to cover outstanding debts, his company Aston Metals was then placed into receivership.
Since then, Tinkler has been forced to sell his Patinack Farm and some Gold Coast properties in order to pay down debt.
Tinkler said he was pleased to join Rumble, stating that the company’s Fraser Range project “is one of the most favourable exploration destinations in the world”.
“Rumble represents one of the best opportunities in the area and ticks all the boxes,” Tinkler said.
Rumble also announced a $1.7 million share placement which will be used to fund an extensive exploration programme at Rumble’s Fraser Range tenements, in particular the Big Red and Zanthus Projects, as well as provide general working capital.
Its shares have shot up 40 per cents to 7.7c a share.