Rome Resources (LSE:RMR) has made further progress with its post-maiden resource drilling programme at the Bisie North tin and copper project in the Democratic Republic of Congo, with two drill rigs currently active across the Mont Agoma and Kalayi prospects. Early handheld XRF readings from drillhole KBD019 at Kalayi have identified a six-metre interval averaging 1.6% tin within a broader 26-metre zone of disseminated cassiterite, providing early support for mineralisation continuity.
Drilling at Mont Agoma has now advanced into the main mineralised zone, with management noting that progress to date is consistent with its structural interpretation of the system. While the reported grades are preliminary and subject to confirmation through laboratory assays, the company said the early indicators align with expectations for deeper and potentially higher-grade tin mineralisation, reinforcing the strategic importance of Bisie North as drilling continues.
From a market standpoint, Rome Resources’ outlook remains constrained by its financial position. The company currently generates no revenue and continues to report widening losses alongside sustained negative free cash flow, highlighting ongoing funding risk. Technical indicators provide a modest additional headwind, reflecting a weak longer-term trend and negative MACD signals, while valuation metrics remain limited by negative earnings and the absence of dividend support.
More about Rome Resources
Rome Resources plc is an AIM-listed mineral exploration company focused on advancing tin and copper projects in the Democratic Republic of Congo. Its flagship Bisie North asset is located close to the Alphamin Mpama tin mine complex, where the company is targeting a large-scale polymetallic system across the Mont Agoma and Kalayi prospects.
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