Interview with Paul Barrett, CEO of Rome Resources

Our previous interview: https://www.cruxinvestor.com/posts/rome-resources-lsermr-42m-investment-accelerates-exploration-at-promising-drc-tin-projects-6463

Recording date: 21st January 2025

Rome Resources has announced promising results from its tin-copper project in the Democratic Republic of Congo (DRC), with the first two drill holes intersecting significant 30-40 meter wide zones of tin mineralization at the Mont Agoma prospect. The company is applying the geological model of the San Rafael tin mine, where mineralization typically transitions from copper-rich zones at shallow depths to tin-dominant mineralization at depth.

CEO Paul Barrett highlighted the significance of these wide intercepts, noting that they are substantially larger than comparable operations. "These are relatively shallow holes, but the really interesting thing is that they're very wide tin intercepts. At this depth we're still in the tin-copper transition with quite a lot of zinc... The key focus obviously is the tin," Barrett stated.

The company is currently operating three drilling rigs at Mont Agoma and is nearing completion of its drill program at the nearby Kalayi prospect. A maiden resource estimate is expected in Q1 or early Q2 2025. Barrett indicated that after completing the current phase of drilling, the company will still have substantial funds available for future exploration.

Following a recent financing, Rome Resources is well-funded and has shifted its focus from seeking additional investment to pursuing strategic partnerships with larger companies. The company recently held discussions with potential investors in London and plans similar meetings in Cape Town next month, emphasizing its preference for partnership opportunities over further equity dilution.

The tin market outlook remains favorable, with prices stabilizing around $30,000 per tonne. Barrett expressed optimism about the long-term fundamentals: "Longer term, the signals are still very, very good. Shareholders understand that. If we come into production, it's going to be longer term, that's positive."

Tin's importance in the energy transition continues to grow, driven by its essential role in solar panels, batteries, and electronics. With limited new tin projects globally and production largely dependent on artisanal mining in countries like Indonesia and Myanmar, supply constraints could benefit companies bringing new production online.

Rome Resources sees itself as potentially following in the footsteps of Alphamin, with its Mont Agoma and Kalayi prospects located near Alphamin's Mpama tin mine. The company's strategy focuses on expanding its resource base through deeper drilling while maintaining a strong financial position. With multiple catalysts expected in 2025, including resource estimates from both prospects, Rome Resources aims to establish itself as a significant player in the tin sector.

View Rome Resources' company profile: https://www.cruxinvestor.com/companies/rome-resources

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