Rome Resources (RMR) booked a loss of £4.8 million in the fifteen months to 31 December 2024.
The company closed out the period with £4.3 million, following two fundraisings during the period, one in July, when Rome as it’s now constituted took over Pathfinder Minerals and listed on Aim, and one in December.
During 2024 the company undertook significant work, including drilling, at its Kalayi tin prospect and its Mont Agoma tin, copper, zinc and silver prospect, both in the Democratic Republic of Congo.
Overall, the company recovered 3,443 metres of drill core during the reporting period.
Post the period end, Rome has recovered a further 1,787 metres of core.
"2024 was a transformational year for both sets of legacy shareholders - Pathfinder Minerals and Rome Resources,” said Paul Barrett, chief executive of Rome Resources.
“In combining the two entities, we created a business focussed on building value in the tin and copper discoveries that Rome had made in the Bisie North project, eastern DRC, in 2023. It also brought together two teams with strong geological expertise and operating experience in the DRC and experience of operating a public company on Aim. This was demonstrated by the fact that Rome raised £4m before expenses upon admission and a further £4.2m from a DRC strategic mining investor just before year-end.”
View from Vox
For much of 2024 and into early 2025, Rome was one of the few London-listed mining companies generating meaningful and attractive drill results. A resource update is now due within a couple of months, and with some of the grades and intercepts that have been reported over the past year or so, it ought to make for interesting reading.