Rome Resources Plc (AIM:RMR) has raised £1.9 million through a placing, priced at 0.2p per share, with funds earmarked for upcoming drilling in the Democratic Republic of Congo
The company, in a statement, said the placing was "upsized" amid strong investor demand.
Proceeds will support mobilisation and drilling at the Bisie North project, where an upcoming programme will target deeper tin zones at Kalayi and the eastern tin zone at Mont Agoma. The drilling follows a recent maiden resource estimate.
"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," said chief executive Paul Barrett.
He added that drilling is expected to run for three to four months with several deep holes planned.
Rome said mobilisation of helicopters and drilling crews will begin shortly.