On November 19, Rome Resources announced its plan to raise £1.9 million ($2.4 million) through a share placement. The funds, still subject to regulatory conditions, will be used to finance a new drilling program at the Bisie North tin project the British company is exploring in the Democratic Republic of Congo.

Rome Resources says the campaign aims to test priority targets on the site, especially the deeper zones of the Kalayi and Mont Agoma deposits. The company estimates that the work has a discovery potential of between 53,000 and 144,000 tons of mineral resources. This target could increase the 10,600 tons of inferred resources declared last month at Bisie North.

“The board is highly encouraged by the technical foundations laid by the recent maiden mineral resource estimate, which clearly highlights the high-grade potential at both Kalayi and Mont Agoma. We are now looking forward immensely to testing the high grade tin potential of Kalayi deep, a key upside indicated by the recent maiden mineral resource estimate,” said Paul Barrett, CEO of Rome Resources.

Pending the financing, the company expects to start drilling in “approximately two weeks.” The work should continue for 3 to 4 months. Meeting these goals could further position Bisie North as a potential contributor to Congolese tin output, which was 99 % supported in 2024 by Alphamin Resources’ Bisie mine.

Aurel Sèdjro Houenou, Ecofin Agency