Rumble Resources (ASX:RTR) shares took a tumble reaching down as much as 17.7% to A$0.140, marking their weakest point since April 9, 2021.

The diversified mining company announced that it had garnered firm commitments enabling the business to raise A$8.1 million through share placement.

Furthermore, Rumble Resources intends to raise an additional A$3 million through a share purchase plan.

The issue price set at A$0.135 per share puts the shares at a 20.6% discount to the trading price on August 9.

Shares had their worst day since June 2, 2021 if current losses continue to stand, marking the third consecutive session of decline.

As of the last closing, the stock had already seen a decrease of 22.7% this year.

Rumble Resources is an Australia-based mining company specializing in gold, nickel and copper exploration.