Rome Resources (LSE:RMR) - Tin Resource Update in the Coming Months

Mar 21, 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-explorer-races-toward-q1-2025-resource-debut-6781

Recording date: 19th March 2025

Rome Resources Ltd. has strategically paused its tin exploration drilling program in the Democratic Republic of Congo, having successfully completed the majority of its planned campaign ahead of schedule. This prudent operational decision comes with the company in an exceptionally strong position, having just completed two highly promising holes (MADD024 and MADD026) that revealed significant visible tin and copper mineralization, further validating the project's remarkable potential.

CEO Paul Barrett highlighted the company's operational efficiency, confirming that samples from these final holes have already been securely transported to Kisangani for analysis, with results expected within 3-4 weeks - a critical near-term catalyst for the company. This timely completion of drilling activities positions Rome Resources to advance to the resource definition phase with minimal disruption to their strategic timeline.

The company demonstrates exemplary financial stewardship, maintaining a robust treasury with over £2 million in cash reserves - an enviable position for a junior explorer. Management has implemented a disciplined capital management strategy during this transitional period, with plans to optimize operational expenditures by approximately 50%, further extending their financial runway while core value-creation activities continue uninterrupted.

In a significant diplomatic breakthrough, the presidents of DRC and Rwanda recently convened in Doha, Qatar, to negotiate a comprehensive ceasefire agreement, which could create favourable conditions for operations to resume promptly. This positive regional development underscores the potential for a swift resolution to temporary security considerations.

Rome Resources has demonstrated exceptional operational preparedness, having secured all on-site assets and maintained strategic relationships with drilling contractors through retainer arrangements, ensuring immediate mobilization capabilities when conditions permit. This forward-thinking approach highlights management's regional expertise and operational acumen.

The company remains firmly on track to deliver a defining milestone - an inferred resource estimate for both the Kalayi and Mont Agoma prospects by late April or early May 2025. Barrett emphasized the substantial growth potential beyond this initial resource, noting that the Mont Agoma prospect "is open to the south in terms of the tin," indicating significant expansion opportunities in future drilling campaigns once operations resume.

This combination of near-term resource definition, exceptional financial position, and clear expansion potential positions Rome Resources as a compelling opportunity in the critical minerals sector at a time when tin's importance in global technology and energy transition applications continues to accelerate.

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