Rumble Resources (ASX:RTR) said it and joint venture partner AIC Mines (ASX:A1M) have agreed to sell their respective interests in the Lamil project in Western Australia to Aventine Resources, according to a Thursday Australian bourse filing.

Total consideration is AU$500,000 in cash, Aventine shares worth AU$600,000, and an aggregate 1% net smelter return royalty, with Rumble's share comprising AU$250,000 in cash, Aventine shares worth AU$300,000, and a 0.5% net smelter return royalty, the filing added.

Completion is conditional on satisfaction of certain conditions, including heritage assignment and ASX and IPO-related confirmations by Aventine, it added.

AIC Mines' shares fell 2% in recent Thursday trade.