Rome Resources (LSE:RMR) - £4.2M Investment Accelerates Exploration at Promising DRC Tin Projects

Dec 19, 2024

Ask episode

Chapters

Transcript

Episode notes

Interview with Paul Barrett, CEO of Rome Resources

Our previous interview: https://www.cruxinvestor.com/posts/rome-resources-aimrmr-high-grade-hits-at-drc-tin-project-6292

Recording date: 18th December 2024

Rome Resources Plc (LSE:RMR), a tin explorer focused on the Democratic Republic of Congo (DRC), has secured £4.2 million in funding through a strategic investment from Stanvic Mining SARL to accelerate its exploration programs.

The company is currently conducting drilling campaigns at two primary tin prospects - Kalayi and Mont Agoma - using four drill rigs. At Kalayi, the drilling program is nearing completion, with visual indications of tin mineralization observed in the drill core, though assay results have only been received for two holes so far. The company is optimistic about establishing a maiden resource estimate at this prospect.

At Mont Agoma, drilling continues to test the depth extent of known tin mineralization, with plans for an additional six to eight holes targeting the core of the prospect. Early indicators show presence of tin, copper, and zinc mineralization.

CEO Paul Barrett commented on the financing: "It's a good endorsement of our business that [Stanvic] is happy to put in over 4 million." He emphasized the cost-effectiveness of the raise, noting that "99% of that money will use putting in the ground."

The funds will support expanded exploration efforts, including high-resolution topographic mapping using LiDAR technology to provide detailed imaging of the bedrock beneath the jungle vegetation. Additional plans include soil geochemistry sampling and regional geological work, potentially including magnetic surveys.

Looking ahead, Rome Resources aims to delineate resources at both prospects. Barrett outlined the strategy: "I think intuitively we would put out the Kalayi resource because we're pretty much finished drilling there right now. Mont Agoma, I think, we really need to put in another 6 to 8, maybe more holes before we can confidently come up with a bigger number."

The investment strengthens Rome's position in the DRC's tin sector, where the company sees significant exploration upside and regional potential. With the global demand for tin growing, driven by its use in electronics, electric vehicles, and renewable energy infrastructure, Rome Resources is positioning itself to capitalize on the increasing market opportunity in this critical technology metal.

View Rome Resources' company profile: https://www.cruxinvestor.com/companies/rome-resources