London Stock Exchange welcomes Rome Resources Plc to AIM
The London Stock Exchange welcomes the admission of Rome Resources (AIM: RMR), following the completion of an acquisition of the company’s entire share capital by AIM-quoted cash shell Pathfinder Minerals. Rome Resources is a Canadian based early-stage resource exploration company, currently holding a 51% interest in the highly prospective Bisie North Tin Project, located in eastern Democratic Republic of Congo (DRC). Rome has completed first phase drilling which has identified two prospective targets within the Project, both containing high-grade tin, with further drilling anticipated imminently.
The Bisie North Tin Project is ideally located, in close proximity to existing infrastructure and, importantly, 8km away from the world class Mpama North mine, owned by Alphamin Resources Corporation, which is reported as the world’s highest-grade tin mines, with an average grade of 4.5% tin. Rome’s initial drilling results confirm geological similarities between the two projects. Rome’s senior management team is comprises of specialists with a wealth of experience and a proven track record both in the tin market and operating in DRC, including Mark Gasson, Executive Chairman, who was instrumental in discovering Alphamin’s tin resources.
Prior to today’s admission, the Company raised approximately £4 million in London, through the issue of Placing Shares at a price of 0.3p per new ordinary share. The proceeds of the fundraise will primarily be used to accelerate Rome’s planned exploration drilling programme, with a total of 16 diamond drillholes planned at the company’s Kalayi and Mont Agoma prospects. Tin is currently in high demand due to a number of factors, including the global energy transition, the growth of artificial intelligence (AI), and supply constraints in countries that have traditionally contributed to the global market share of tin production.
“Today marks a new beginning and we are hugely pleased to have successfully delivered Rome Resources to London’s AIM market whilst raising c.£4 million. The fund raise demonstrates the appetite amongst investors for our Bisie North tin project in the DRC and enables us to advance exploration workstreams, as we seek to move the project up the value chain. Our firm view is that Bisie North has the potential to be a highly strategic tin project to global supply. I look forward with much enthusiasm to updating shareholders in the months ahead.”
Paul Barrett
CEO
