Resource Minerals International Ltd (ASX:RMI) earlier this week confirmed it has raised $1 million to fund exploration programs across its portfolio in Saudi Arabia, Tanzania, and Finland, and to fully retire outstanding convertible securities.
The company said the funding will allow it to advance multiple drill-ready targets while achieving a debt-free position. Non-Executive Director Trevor Matthews told investors that exploration activity is ramping up across all three jurisdictions.
In Saudi Arabia, the company is progressing work at its Shaib Marqan and Wadi Salamah projects. Previous rock chip sampling has returned grades of up to 40g/t gold and 40g/t silver, and a geophysics program is now underway to define drill targets.
In Tanzania, a drone-based geophysics survey is due to commence at the Mpanda copper-gold project, where earlier surface exploration returned strong mineralisation. The company plans to use the survey results to establish a drilling campaign.
In Finland, the company is preparing a near-surface drilling program at the Köyhäjoki lithium project, citing renewed interest in the lithium market amid rising prices. RMI also holds an exploration application for the Kallio Project, where historic drilling has intersected lithium mineralisation.
Matthews said the company is targeting multiple drilling campaigns in early 2026 across all three continents. “We think we’ve got a great portfolio of assets. All of them are at or near record pricing — copper, gold, silver, lithium — and we’re really looking forward to releasing updates into 2026,” he said.
RMI’s diversified portfolio spans critical and precious metals, with strong exposure to commodity trends and a development pipeline built on early-stage geological success.
Proactive: Welcome back to Proactive Newsroom. I'm now joined by Resource Minerals International's Non-Executive Director Trevor Matthews. Trevor, it's good to have you on.
Trevor Matthews: Great to be speaking with you today.
Proactive: Trevor, you've just locked in $1 million. How will those funds be used?
Trevor Matthews: We have exploration activities across three continents. The funds will go towards exploration in Saudi Arabia, particularly at our Shaib Marqan and Wadi Salamah projects. We’re also progressing the Mpanda copper-gold project in Tanzania, and the Köyhäjoki lithium project in Finland. In addition, we’ll use the funds to retire convertible securities, which will make RMI debt-free going forward.
Proactive: That’s quite a diverse portfolio — can you give us a refresher and an update on the three regions?
Trevor Matthews: Sure. In Saudi Arabia, we've had strong rock chip sampling results — up to 40g/t gold at Shaib Marqan, and up to 40g/t silver along with gold at Wadi Salamah. We're currently running a geophysics survey to refine our understanding and generate drill targets.
In Tanzania, we're about to start a drone-based geophysics survey at Mpanda. It’s a large tenement where we've already had good surface results for gold and copper-gold. This will lead into a drill program.
As for Finland, we’re preparing to start a near-surface drilling program at Köyhäjoki, with lithium pricing improving in recent months. We’ve been advancing this steadily and also hold an exploration application for the Kallio Project, which has historical lithium intercepts.
Proactive: What should investors expect in the next few months as we move into 2026?
Trevor Matthews: A lot of activity. In Saudi Arabia, we’re expecting the geophysics to deliver solid drill targets. In Tanzania, the drone survey will lead into copper-gold drilling. And in Finland, near-surface lithium drilling is starting soon. If results are positive, we’ll look at deeper lithium targets. Across all projects, we expect strong news flow into early 2026.