Rome Resources plc (AIM:RMR) has conditionally raised approximately £1.2 million (before expenses) through a direct subscription of 400,000,000 new ordinary shares at 0.30 pence per share, a c.8.6% discount to the five‑day VWAP. The Subscription Shares will rank pari passu with existing shares and were issued non‑pre‑emptively under authorities granted at the general meeting on 2 April.
The company says net proceeds will extend drilling at Kalayi beyond the next planned Mineral Resource Estimate update, fund two high‑grade copper and tin holes at Mont Agoma, and pay for an airborne geophysical survey to vector further targets across its DRC licences. Rome adds the Kalayi MRE update is intended to strengthen discussions with potential strategic partners.
"We are extremely grateful for the continued backing of our existing shareholders, whose additional funding, secured following our most successful drilling campaign to date at Kalayi, positions the Company to further accelerate growth and expand our tin resource. This strong support reinforces confidence in the scale and potential of the Company's projects." — Paul Barrett, Chief Executive Officer
