Pathfinder Minerals, previously operating as a cash shell company, has merged with Rome Resources and rebranded itself as Rome Resources. The newly formed entity will be listed on AIM with the ticker RMR starting Friday, July 26th, according to the newly appointed CEO Paul Barrett, who was formerly the Executive Director of Pathfinder Minerals.
The merger marks a strategic pivot for the company, which had recently disposed of its asset in Mozambique and was actively searching for new ventures. Rome Resources brings to the table a high-grade tin project located in the Democratic Republic of Congo (DRC), specifically the Bisie North Tin Project. This project will be managed by a team of seasoned geologists who have identified two tin anomalies, including a significant polymetallic anomaly containing both copper and tin.
The new entity is raising £4 million in conjunction with the merger and plans to commence drilling activities within a week. Initial drilling efforts have already returned promising grades, instigating plans for a comprehensive drill program that will cover approximately 3,000 meters. The primary objective of this program is to establish a resource estimate by early 2025.
The Bisie North Tin Project's potential is further amplified by its proximity to the Alpha mining tin mine, renowned as the highest-grade tin mine globally. This geographical advantage augments the prospects of substantial tin yields and makes the project particularly noteworthy.
The company's strategic moves are expected to generate a continuous flow of updates and news as the drilling progresses. For stakeholders and those in the mining industry, the emergence of Rome Resources represents a significant development, given the promising early results and the experienced team at the helm of the Bisie North Tin Project.
