Rome Resources (RMR), the DRC-focused tin and copper explorer, is raising £200,000 in a placing of shares to JLE Group at 0.2p each.
The placing follows a recently announced £1.9 million fundraise, which was conducted at the same price, and also with a warrant attached to each share.
"This support from JLE provides funding for any additional work the Company wishes to undertake associated with the upcoming drilling programme on Bisie North,” said Rome Resources chief executive Paul Barrett.
“Management is looking forward to commencing operations soon and will provide regular updates of its progress and results."
View from Vox
This placing was conducted at a premium to the market price, and shares in Rome Resources accordingly rose by more than 10 per cent on the news. That’s a nice little gain on the day, but investors will be looking forward to much bigger movements once the new round of drilling gets underway and the company is able to demonstrate additional value at Bisie North.