Rome Resources PLC Company Research (RMR)

We view Rome Resources’ Bisie North project in eastern Democratic Republic of the Congo (DRC) as the most interesting play on tin, with world class potential. The project lies within 8km and, on-trend geologically with Alphamin’s (AFM: TSX-V) Bisie complex, which has the world’s highest tin grades and is one of the largest sources of mined tin. The underlying thesis is that Bisie North offers the potential for a major commercial tin mining project or, in a best-case scenario, a replication of the Bisie complex. Bisie North is at an early stage of development but results from the inaugural drilling programme commenced in August 2024 are pointing to commercial potential for copper and zinc, in addition to tin. Importantly, the management and technical team that discovered and were responsible for the early phase of mine development at Bisie are now engaged at Bisie North. We see scope for positive news flow in the coming months with the maiden JORC resource statement scheduled for Q2 2025 particularly influential.