Allenby Capital17 Jan 2025 13:50
Shares in Rome Resources (
RMR
)
have risen strongly today, up 7.69% mid-session to 0.325p, after Allenby Capital highlighted the strong potential of the company’s DRC tin and copper assets in a flash note.
The share price rise came as the company’s enjoyed its highest trading volumes in a month, and follows a period of underperformance in the fourth quarter of last year, which was likely due to uncertainty around funding.
However, Rome has since secured a £4.2 million strategic investment from Stanvic Mining SARL at 0.35p, a significant DRC-based investor, ensuring funding for its extensive drilling and exploration programs through 2025.
According to Allenby, Rome is “one of the most interesting resource plays” on Aim.
That assessment is based in part on the strong grades that Rome has reported at Mont Agoma, including 41 metres at 3.5% copper and nine metres at 9.5% copper. This project continues to show improving mineralisation at depth, aligning with the company’s interpretation of it as akin to the San Rafael-style geological model. Proximity to Alphamin’s major deposits is also an encouraging sign.
Promising results have been reported at Kalayi too, including tin grades exceeding 4%.
The company currently has four rigs active, and is expecting assays imminently.