Rome Resources hails 'transformational' year as drilling continues

(Sharecast News) - Rome Resources has reported its annual results for a "transformational year" following the reverse takeover of Pathfinder Minerals, move to AIM and significant fundraising during 2024. The company, which is pre-revenue, finished the year with a cash balance of £4.3m, up from £1.4m at the end of 2024.

This a result of the £4m raised at admission to AIM in July and the £4.2m raised from a strategic investor in December, minus the cost of drilling operations during the second half of the year.

During the year, the miner re-activated drilling at the Bisie North Field Camp upon admission to AIM, while drilling at its Kalayi tin prospect and the Mont Agoma tin, copper, zinc and silver prospect continued. By the end of the period, 3,443m of core had been recovered in the drilling campaign.

Looking forward, Rome highlighted "highly encouraging results" from its drill campaign, which are feeding into its maiden resource estimate. This has been paused as the company awaits outstanding assay results from more recent drilling.

"Additional drill results, including tin intercepts outside the core area of Mont Agoma, will be included in the maiden resource estimate, expected to be completed in September 2025, which will inform the board as to the next steps on the journey to a valuable resource in a world class play," said chair Klaus Eckhof.

Shares were down 3.8% at 0.28p by 1219 BST.