Rome Resources plc

Rome Resources Ltd listed on AIM (RMR) in late July 2024 in conjunction with a fundraise of £4mm (£3mm net), following a reverse takeover of Rome Resources Ltd by Pathfinder Minerals plc. Rome is an early-stage tin explorer in eastern DRC, currently with 4 rigs resource drilling two high-grade tin anomalies with a combined strike length of more than 3km, located in a similar geological setting to the highest grade tin min in the world, Mpama North (4.5% Sn), 8km to the south. Previous drilling results included 12.5m at 1.06% Sn including 0.5m at 11.7% Sn and 41m at 3.52% Cu including 13.15m at 7.8% Cu. 

Rome expects to issue a maiden resource for tin and copper on this project early Q1 2025.

Management Profile:

Mark Gasson, Executive Chairman. is a geologist with 37 years of experience in DRC, South Africa and Tanzania since 1986 in gold and base metals exploration and resource development. Mr Gasson served on the Boards of Tiger Resources, Erongo Energy, Alphamin Resources and Taruga Minerals. He was instrumental in the discovery of Tiger Resources’ 1 million tonnes of copper at Kipoi, 250,000 tonnes of tin at 3.5% tin at Alphamin’s Bisie tin project, and 3Moz of gold at Amani’s Giro deposits, all of which are located in the DRC. 

Paul Barrett, CEO, is an experienced resource geologist in numerous jurisdictions, including Canada, Russia, South Africa and Eastern Europe. He was a co-founder of Europa Oil and Gas and has many years experience running a public company. He was a director of Pathfinder Minerals and responsible for completing the reverse takeover of Rome in July 2024.

What is your rationale for taking part in 121 Mining Investment?

To provide further information to the wider market about Rome Resources, the investment opportunity and its developing tin project.

What recent news would you like to highlight to investors attending?

30 September 2024 - Rome announces proposed appointment of Klaus Eckhof as Chairman

5 August 2024 - Rome commences drilling on Bisie North Project, DRC

26 July 2024 - Rome commences trading on AIM, having raised gross proceeds of £4M

30 November 2023 - Rome Resources Enters into Non-Binding Heads of Terms for Acquisition of Rome by Pathfinder Minerals Plc

3 November 2023 Rome Resources Announces Final Assay Results that Confirm Tin and Polymetallic Mineralisation Open in All Directions and at Depth at the Mont AgomaProspect, Bisie North Tin Project

23 August 2023 - Rome Resources Announces Initial Assay Results Confirm Significant Tin Discovery at the Kalayi Prospect, Bisie North Tin Project, 12.6m at 1.06% Tin including 0.5m at 11.7% Tin

26 July 2023 - Rome Resources Increases Earned Indirect Interest in Exploration Permit PR 15130 from 25% to 51%

24 July 2023 - Rome Resources Announces a New Discovery of Tin Mineralization at the Kalayi Prospect at the Bisie North Tin Project

What are your key goals for the next 3, 6 and 12 months?

3 Months

Diamond drill 53,00-5,000m

6 Months

Prepare a maiden mineral resource estimate

12 Months

Attracting further equity investment and/or industry participation to accelerate project to PFS

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Main risk is that we do not intersect sufficient high grade tin and copper mineralisation intersected in our maiden drilling programme.

What do you think makes your company such a compelling investment?

Two USP's are high grade tin and copper close to existing mining and export facility and a team that has successfully created significant shareholder value in several DRC projects over the past two decades. Low cost entry into that could become an Alphamin ($C1.4B market cap) peer.

What are the top 3 key investor takeaways?

High grade tin and copper fairway which includes the highest grade tin mine in the world

Current drilling to confirm resource

Entry now would be at a very compelling price ahead of building value with the drillbit