Rome Resources (LSE:RMR) - DRC Drilling Restarts

May 1, 2025

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Interview with Paul Barrett, CEO of Rome Resources

Our previous interview: https://www.cruxinvestor.com/posts/rome-resources-lsermr-tin-resource-update-in-the-coming-months-6874

Recording date: 29th April 2025

Rome Resources (LSE) has announced the resumption of exploration drilling in the Democratic Republic of Congo (DRC) following improved security conditions in the region. CEO Paul Barrett confirmed that helicopter support has mobilized back to the country, with drilling operations expected to restart by the end of this week.

The improved situation stems from M23 rebels retreating from the company's operational area back to the Kivu region, along with ongoing peace talks between Rwanda and DRC. While currently operating from Kisangani, the company plans to eventually return to Goma, which would streamline logistics with shorter helicopter flight times.

Rome Resources is focusing exclusively on the Mont Agoma deposit, having already collected sufficient data from the Kalayi deposit. The strategic drilling program targets a specific data gap in the deeper part of Mont Agoma, based on their geological model suggesting increased tin grades at depth. The company also plans to drill exploratory holes on the southern fringe to determine the deposit's lateral extent.

Mont Agoma represents a more complex opportunity than the pure tin Kalayi deposit, featuring additional copper and zinc mineralization. This multi-metal potential could provide significant value streams for the project, with the company exploring combined processing options for all three metals.

A key near-term catalyst is the planned resource estimate expected by the end of May 2025, pending assay results from holes 24 and 26. The estimate will require independent verification to comply with AIM listing rules.

Financially, Rome Resources maintains a strong position with $2.7 million in cash and a tightly controlled drilling budget of $1.6 million. The company operates with a lean structure, directing 90% of expenditures toward drilling activities.

The company is also exploring collaboration opportunities with neighboring miner Alphamin for shared helicopter and fixed-wing facilities, potentially improving operational efficiency in the remote region.

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