Resource Mining Secures $2 million to Boost Tanzanian Copper-Gold Exploration

Highlights

• $2 million Capital Raised at Premium: Resource Mining Corporation Limited (ASX: RMI) secured $2 million through a share placement at 2.1c per share, a 9.4% premium to the 5-day VWAP.
• Funding Tanzanian Exploration: Proceeds will support copper-gold exploration at the Mpanda Project, debt repayment, and evaluation of near-term mining opportunities.
• Strong Director Support: Executive Chairman Asimwe Kabunga committed $500k to the raise, reinforcing board confidence in RMC's strategic direction.

Capital Injection at Premium Valuation

Resource Mining Corporation Limited (ASX: RMI) has successfully secured $2 million in capital through a well-supported share placement, aimed at accelerating its copper-gold exploration activities in Tanzania. At the time of writing, the company confirmed it would issue approximately 95.2 million shares at 2.1 cents each — representing a 9.4% premium to its five-day volume-weighted average price (VWAP). The raise drew firm commitments from both existing shareholders and new sophisticated investors.

Funding Exploration and Development in Tanzania

The proceeds will be allocated toward several strategic initiatives, with a focus on copper-gold exploration at the company’s Mpanda Project in Tanzania. The funds will cover upcoming soil and auger sampling, as well as RAB drilling programs. In addition, capital will support follow-up exploration work, debt reduction, and the evaluation of near-term production prospects using available third-party infrastructure.

Board Participation Underscores Confidence

Demonstrating strong internal confidence, Executive Chairman Asimwe Kabunga has committed $500,000 to the raise, subject to shareholder approval. Director Trevor Matthews will contribute $50,000. Their combined $550,000 participation signals a significant vote of confidence in the company’s growth prospects and exploration strategy.

Kabunga expressed enthusiasm for the next stage, stating: “We are thrilled with the investor support at this pivotal stage for RMC. With results pending from our current sampling efforts, we are well-positioned to advance exploration and unlock value across our Tanzanian and Finnish assets.”

Outlook and Next Steps

The placement shares will be issued under the company’s existing capacity in line with ASX Listing Rules 7.1 and 7.1A. Issuance is expected within five business days. With exploration results pending and a diversified project portfolio, Resource Mining is poised for significant progress in the coming months.

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