Rome Resources (RMR ) has conditionally raised a further £390,000, following on from the £1.2 million equity subscription that it announced on 20 April.
The additional subscription came after the company was contacted by non-Uk shareholders who wished to participate on the same terms.
Accordingly, the total number of new shares issued amounts to 130 million, and the total raised stands at £1.59 million.
''We value the long-term support of these long-standing non-UK investors who have been shareholders of Rome Resources since its TSX listing and prior to the company's migration to Aim,” said Paul Barrett, chief executive of Rome Resources.
“Their decision to approach the company after the initial subscription and request participation on the same terms is a strong vote of confidence in the broader potential of our DRC projects following on from our most successful drilling campaign at Kalayi to date."
Separately, Rome also announced the proposed appointment of Ed Loye to the board as non-executive director. Loye is an experienced geologist and entrepreneur in the non-ferrous metals sector, being the founder of Namibia-focussed E-Tech Metals. He is currently chief executive of Great Western Mining, a copper, gold and tungsten developer in Nevada, USA.
View from Vox
The value of Rome’s shares has doubled since mid-December as momentum builds at its tin and copper assets in the Democratic Republic of Congo. Not too surprising, then, that existing shareholders, who already understand the potential, are keen to maintain a good level of exposure. Expect plenty more newsflow in the months ahead.