Rome Resources raises £787,500 via subscription
Rome Resources (RMR ) has conditionally raised approximately £787,500 by way of a direct subscription with existing shareholders of the company.
The issues price is 0.175p, a discount of approximately 16% to the closing bid price on 28 September 2026.
The net proceeds will be used to fund preparatory work for the company's next drilling campaign at its Bisie North project in the Democratic Republic of Congo, as well as for general working capital purposes.
The company continues to engage with potential strategic partners in relation to further developing both its Kalayi and Mont Agoma projects.
“We remain highly mindful of dilution, particularly given the significant discount at which we believe Rome Resources currently trades relative to the value implied by its recently updated Mineral Resource Estimate,” said Paul Barrett, chief executive of Rome Resources.
“Against this backdrop, and following consultation with existing shareholders, we have sought to raise only the minimum capital we believe is necessary to maintain operational momentum in the DRC while we advance ongoing discussions with potential strategic partners.”
View from Vox
Rome has reached a delicate point in the development of its assets in the DRC. With resources in place, they are now likely to be of serious interest to potential partners, hence the ongoing discussions that the company refers to. On the other hand, there’s still a lot of work to be done before development can get underway. The implication of the company doing this fairly minimal raise is that discussions are proceeding well. We shall see.
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