REG - Rome Resources PLC - Placing to raise £1.9mn, Mobilisation for Drilling

Rome ResourcesAnnouncement

19/11/2025 07:00

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RNS Number : 0732I  Rome Resources PLC  19 November 2025

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19 November 2025

 

Rome Resources plc

("Rome Resources", the "Company" or the "Group")

 

Placing to raise £1.9 million

and

Mobilisation for Drilling Operations

 

Rome Resources (AIM: RMR), the DRC-focused tin and copper
explorer, announces that it has conditionally raised gross proceeds of £1.9
million through a placing (the "Placing") which was upsized following strong
investor demand of 950,000,000 new ordinary shares ("Placing Shares") of 0.1
pence each in the share capital of the Company ("Ordinary Shares") to new and
existing institutional and other investors ("Placees") at an issue price of
0.2 pence per new Ordinary Share (the "Placing Price").

 

The placees in the Placing will, upon Admission (as defined below) be issued
with one warrant to subscribe for one new Ordinary Share for every Placing
Share, with each Warrant entitling the holder to acquire one new Ordinary
Share at a price of 0.4 pence at any time in the three-year period from issue
(the "Warrants"). The Warrants are non-transferable by the holders without the
prior consent of the Company.  The Warrants will be in certificated form and
none of the Warrants will be admitted to trading on AIM or any other stock
exchange.

 

The Company is also pleased to announce it will mobilise BAC Helicopters and
drilling crews to the Bisie North site to commence drilling a targeted
programme, details of which are set out below, in the coming weeks.

 

Placing highlights

 

·    A Placing to raise £1.9 million (before expenses) at the Placing
Price of 0.2p pence per Placing Share.

 

·    The proceeds of the Placing will be deployed to undertake Rome's next
drilling programme at the Bisie North Project.

 

·    Oak Securities (a trading name of Merlin Partners LLP) ("Oak") is
acting as Broker in respect of the Placing.

 

·    The Placing Price is equal to the closing mid-market price of 0.20
pence per Ordinary Share on 18 November 2025 (the "Closing Price"), being the
latest practicable business day prior to the publication of this Announcement.

 

·    The Placing and the issue of the Warrants are expected to be
conducted utilising the Company's existing share authorities to issue and
allot securities on a non-pre-emptive basis, granted at the general meeting of
the Company on 30 July 2025.

 

Use of Proceeds

 

The net proceeds of the Placing will be used to support the mobilisation and
execution of a new drilling programme designed to test the highest-priority
targets defined in the Company's maiden Mineral Resource Estimate (MRE) and
subsequent geological modelling:

 

·    Several deep drillholes, split between the Kalayi and Mont Agoma
prospects.

 

·    Testing the deeper high grade tin zones at Kalayi, beneath existing
intercepts.

 

·    Testing the new eastern tin zone in Mont Agoma along with the deeper
tin-dominant portions of the main tin/copper system.

 

·    These drilling targets collectively represent potential for an
addition 53kt and 144kt of contained tin resource

 

Paul Barrett, Chief Executive Officer of Rome Resources, commented:

 

"The Board is highly encouraged by the technical foundations laid by the
recent maiden Mineral Resource Estimate, which clearly highlights the
high-grade potential at both Kalayi and Mont Agoma. We are now looking forward
immensely to testing the high grade tin potential of Kalayi deep, a key upside
indicated by the recent Maiden MRE. In addition, drilling at Mont Agoma,
including the new eastern tin zone of Mont Agoma that was not included in the
MRE, will test the potential for tin beneath the copper-rich upper levels of
the system and offers significant upside potential for Mont Agoma.

 

Drilling is likely to commence in approximately two weeks, following
mobilisation back to site of the Airbus AS350 support helicopter.  We
anticipate a 3-4 month programme, targeting between 53kt and 144kt of tin
resource potential. Success in this campaign will underpin a resource update
and a broader strategic review.  Separately, we note the recent signing of
the M23/DRC peace agreement, which will pave the way for further improvements
in the security of the region."

 

Forward Drilling Programme

 

Kalayi

 

Kalayi, located approximately 10km northwest of Alphamin's Bisie Mine, hosts
three confirmed high grade tin shoots.  Historical drilling includes
significant high grade intercepts such as 2.5m at 3.4% Sn, 0.4m at 12.9% Sn
and 0.5m at 7.5% Sn, all at less than 80m depth.

 

As demonstrated at the nearby Bisie Mine, widths of high grade tin intercepts
typically expand dramatically below about 200m depth.  Accordingly, the
Kalayi forward programme concentrates on drilling beneath the proven high
grade tin intercepts in order to evaluate how these zones evolve at depth.
Several holes averaging 300m depth will be drilled at Kalayi to test the
vertical expansion of these zones.

 

Mont Agoma

 

The Mont Agoma polymetallic deposit is rich in copper, zinc and tin with
ancillary silver.  The recent Maiden Mineral Resource identified significant
resource potential in all four commodities in the relatively shallow drilled
section of the 200m wide mineralised corridor.

 

·    Drilling will test deeper sections of the main zone, where tin is
expected to become dominant at depth, consistent with global tin-copper
systems.

·    Additionally, the programme will also target the Mont Agoma Eastern
Tin Zone where hole MADD030A intersected a 23m tin zone with a grade of 0.46%
Sn, including inter alia 1m at 1.56% Sn and 1.6m at 1.42% Sn with less copper
than the main Mont Agoma zone

 

This intercept was not included in the MRE, and consequently, part of the
forward programme will test the continuation of this zone at depth, as it is
expected to run sub-parallel to a major strike slip fault that separates the
eastern zone from the main zone.

 

Summary

 

The exploration targets being drilled in the forward campaign represent a
potential for between 53kt and 144kt of additional tin resource.  Success
with this programme will transform the project and drive the strategic review
of options going forward.

 

Details of the Placing

 

The Placing comprises the issue of 950,000,000 new Ordinary Shares (the
"Placing Shares") at the Issue Price to conditionally raise £1.9 million
before expenses for the Company

 

When issued, the Placing Shares will represent approximately 13.5 per cent of
the enlarged share capital of the Company and will rank pari passu with the
existing Ordinary Shares. The Company has agreed to issue Oak with 57,000,000
fully transferable warrants exercisable at the Placing Price at any time until
three years following Admission (as defined below).

 

The Placing is not being underwritten by Oak Securities or any other person.

 

Admission to trading on AIM

 

The Placing is conditional upon the receipt of funds and Admission (as defined
below) becoming effective.

 

Application will be made to the London Stock Exchange plc for admission of the
Placing Shares to trading on AIM ("Admission"). Admission is expected to occur
on or around 25 November 2025.

 

 

For further information, please contact:

 

 

 Investor questions on this announcement                       https://romeresources.com/s/5b5af1 (https://romeresources.com/s/5b5af1)

 We encourage all investors to share questions

 on this announcement via our investor hub

 Rome Resources Plc                                            Tel. +44 (0)20 3143 6748

 Paul Barrett, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)  Tel. +44 (0)20 3328 5656

 John Depasquale / Vivek Bhardwaj (Corporate Finance)

 Joscelin Pinnington (Sales & Corporate Broking)

 OAK Securities (Joint Broker)                                 Tel. +44 (0)20 3973 3678

 Jerry Keen, Head of Corporate Broking

 Calvin Man, Head of Advisory

 Camarco (Financial PR)                                          Tel. +44 (0)20 3757 4980

 Gordon Poole / Sam Morris

Subscribe to our news alert service: https://romeresources.com/auth/signup
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Qualified Person Statement

 

Dr Deon Vermaakt is a consultant of Rome Resources plc, a qualified geologist
and a registered Professional Natural Scientist (Geological Science) with the
South African Council for Natural Scientific Professions (SACNASP Reg. No.
400074/03). Dr Vermaakt is a qualified person (QP) under NI 43-101 and as
defined by the AIM Note for Mining, Oil and Gas Companies and has reviewed and
approved the scientific and technical information contained in this news
release.

 

Forward Looking Statements

 

This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "anticipates", "targets", "aims",
"continues", "expects", "intends", "hopes", "may", "will", "would", "could" or
"should" or, in each case, their negative or other variations or comparable
terminology. These forward-looking statements include matters that are not
facts. They appear in a number of places throughout this announcement and
include statements regarding the Directors' beliefs or current expectations.
By their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances. Investors should not
place undue reliance on forward-looking statements, which speak only as of the
date of this announcement.

 

Notice to overseas persons

 

This announcement does not constitute, or form part of, a prospectus relating
to the Company, nor does it constitute or contain any invitation or offer to
any person, or any public offer, to subscribe for, purchase or otherwise
acquire any shares in the Company or advise persons to do so in any
jurisdiction, nor shall it, or any part of it form the basis of or be relied
on in connection with any contract or as an inducement to enter into any
contract or commitment with the Company.

 

This announcement is not for release, publication or distribution, in whole or
in part, directly or indirectly, in or into Australia, Canada, Japan or the
Republic of South Africa or any jurisdiction into which the publication or
distribution would be unlawful. This announcement is for information purposes
only and does not constitute an offer to sell or issue or the solicitation of
an offer to buy or acquire shares in the capital of the Company in
Australia, Canada, Japan, New Zealand, the Republic of South Africa or any
jurisdiction in which such offer or solicitation would be unlawful or require
preparation of any prospectus or other offer documentation or would be
unlawful prior to registration, exemption from registration or qualification
under the securities laws of any such jurisdiction.  Persons into whose
possession this announcement comes are required by the Company to inform
themselves about, and to observe, such restrictions.

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.  This announcement is
not an offer of securities for sale into the United States.  The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

 

 

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