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Resource Minerals International Ltd (ASX:RMI)

ALERT: Price-sensitive ASX Announcement for RMI
Current share price for RMI : $0.190 0.174 (1,087.50%)+
Announcement
Release
31 Jul 2025 2:51PM
Price at Release
$0.016
Full Release
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Summary
Resource Mining Corporation Limited (RMI) reported on its exploration activities for the quarter ending 31 March 2024, focusing on advancing its Roussakero Nickel Project and Kola Lithium Project in Finland. Key activities included the completion of initial diamond drilling at both projects, with assay results from these efforts expected in the next quarter. The company maintained a strong safety record, experienced no significant environmental incidents, and closed the quarter with approximately AUD 2.7 million in cash. RMI’s operating cash outflows were primarily driven by exploration expenditure, and no mining or production activities took place. The company is well-funded for ongoing exploration and has plans for continued drilling programs.
Key Points
  • During the quarter ending 31 March 2024, RMI focused on advancing its exploration programs in Finland.
  • The company’s main projects are the Roussakero Nickel Project and the Kola Lithium Project, both located in Finland.
  • At Roussakero, RMI completed an initial diamond drilling program consisting of six holes, totaling 1,220.1 meters, targeting nickel-copper mineralisation.
  • Drill samples have been dispatched for assay with results expected in the June 2024 quarter.
  • At the Kola Lithium Project, RMI completed 16 diamond drill holes for a total of 1,625.1 meters, targeting spodumene-bearing pegmatites.
  • The drilling confirmed the presence of lithium mineralisation with pegmatites intersected in several holes; assays are pending.
  • The company reported zero lost time injuries and no significant environmental incidents for the quarter.
  • Cash at 31 March 2024 was approximately AUD 2.7 million.
  • Net cash used in operating activities during the quarter was AUD 1.143 million, mainly related to exploration and evaluation expenditure.
  • No substantive mining production or development activities occurred during the quarter.
  • RMI remains well-funded to progress its exploration targets and plans further drilling and field activities in the coming quarters.
  • There were no payments to related parties except for director fees.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.