Home » Posts tagged 'bres'
Tag Archives: bres
#BRES Blencowe Resources Plc – AFC Expression of Interest
African Finance Corporation Issues Expression of Interest for Orom-Cross Project Funding
Tier One African Investment Bank Signals Willingness to Participate in Both Debt and Project Equity
Blencowe Resources Plc (LSE: BRES) is pleased to announce it has received a formal Expression of Interest (“EOI”) from the African Finance Corporation (“AFC” or “the AFC”), a leading multilateral finance institution, regarding potential participation in both debt and project level equity funding for the Orom-Cross graphite project in Uganda.
AFC: A Premier Institutional Funding Partner
This EOI follows extensive engagement between Blencowe and AFC over the past few years and represents a key step to securing the AFC as a co-funding solution partner for Orom-Cross. The AFC has conducted due diligence on the Orom-Cross Graphite Project and recognises its high-purity product, low-cost structure, and strategic positioning as a key supplier of non-China graphite into the global battery and industrial markets.
The AFC’s stated interest includes both debt and project level equity participation, underscoring its confidence in the long-term value of Orom-Cross.
The AFC is one of Africa’s most established and well-capitalised development finance institutions, boasting $12.3 billion in assets and a Moody’s A3/P-2 credit rating, reinforcing its position as a premier lender for large-scale resource projects. The AFC has a strong track record in funding major African mining developments, including:
· $175 million for Baomahun Gold (FG Gold in Sierra Leone)
· $86 million for Thor Exploration’s Segilola Gold (Nigeria)
· $130 million for Shalina Resources (DRC copper-cobalt)
AFC’s Expression of Interest includes potential funding participation in the initial start-up phase of Orom-Cross development, targeted for 2026. As part of this initial investment, AFC has also indicated an interest in securing future funding rights for subsequent project expansions, aligning with Orom-Cross’s long-term growth strategy.
Graphite’s essential role within the global energy transition has made securing independent, large-scale graphite supply a top priority, and AFC’s engagement provides strong validation of Orom-Cross as one of the world’s most promising new graphite projects.
Complementing Existing DFC Support
AFC’s interest represents a major step forward in securing project financing, complementing the existing $5 million Technical Assistance Grant (TAG) provided by the US International Development Finance Corporation (“DFC”) in 2023. DFC remains supportive of Blencowe and retains the first right to provide cornerstone debt funding for Orom-Cross.
With both AFC and DFC now involved, Blencowe is positioning Orom-Cross with a strong institutional funding pathway that could cover all debt and project equity financing following DFS completion.
Next Steps
Blencowe will continue its discussions with AFC and other institutional partners to finalise a financing structure that enables Phase 1 development in 2026 and ensures a clear pathway to commercial-scale production.
The Company remains committed to delivering a world-class graphite project, with a low-cost, high-purity supply chain that aligns with European and North American offtake priorities.
Executive Chairman Cameron Pearce commented: “Securing this Expression of Interest from the African Finance Corporation is a material milestone for Blencowe. AFC is one of Africa’s most respected financial institutions and its interest in Phase 1 funding, alongside future development phases, reinforces Orom-Cross’s long-term strategic importance.
“Institutional investors are increasingly recognising graphite’s critical role of in the global battery supply chain. With AFC now engaged alongside DFC, Blencowe is building a strong financial foundation that will position Orom-Cross as one of a select few new graphite mines advancing towards production. Our ongoing drill programme is expected to materially increase our graphite resource, further enhancing Orom-Cross’ economics and the attraction of the project.”
“We appreciate AFC’s support and look forward progressing discussions. Our differentiated strategy will mitigate risk, drive long-term success, and establish Orom-Cross as a premier supplier in the global energy transition.”
About African Finance Corporation
AFC is an Africa-focused infrastructure and development financing institution established by treaty between sovereign states to accelerate infrastructure and industrial development across the continent. With total assets of US$12.3 billion, AFC is Africa’s second highest investment grade rated multilateral financial institution, holding an A3/P-2 rating from Moody’s Investors Service.
Since 2008 AFC has disbursed more than US$13.2 billion across key infrastructure and resource projects, with an investment footprint across 36 African countries and 43 member states, including the Republic of Uganda.
AFC adds significant value to the development of major mining projects in Africa by leveraging its in-house technical expertise, international reach, and relationships for fundraising from private and development finance institutions alike. The AFC has various long-term investments in the mining sector across several African countries in addition to investments in a range of infrastructure projects in transport and logistics, power, heavy industries, and telecommunications.
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 |
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441 sasha.sethi@blencoweresourcesplc.com |
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
Blencowe Resources #BRES – Result of AGM
Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce that at the Company’s Annual General Meeting held on 26th February 2025, all resolutions were duly passed.
Ends
For further information, please visit https://blencoweresourcesplc.com or the following:
|
Blencowe Resources Sam Quinn
|
Tel: +44 (0) 1624 681 250 info@blencoweresourcesplc.com
|
|
Investor Enquiries Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
Blencowe Resources #BRES – Orom-Cross Graphite Excels in SAFELOOP Product Testing
Blencowe Resources (LSE: BRES) is pleased to announce significant progress within Project SAFELOOP, a European Union-led initiative under the €100 billion Horizon Europe Programme focussed on the European Union’s renewable energy transition. SAFELOOP aims to deliver a Gen3 Lithium-ion battery for standardised EV buses, prioritising safety, recycling, and high performance. Blencowe is the exclusive supplier of natural flake graphite to the project.
In collaboration with its US-based technical partner and graphite specialist American Energy Technologies Co. (“AETC”), Orom-Cross graphite has undergone initial testing and upgrading to battery quality material, delivering standout results. Testing confirmed the exceptional purity of Orom-Cross graphite, with thermal refinement to 99.98% wt%C – exceeding industry standards. Furthermore, composite anodes produced with Orom-Cross graphite achieved an outstanding 68.4 wt% natural graphite content, one of the highest loadings ever recorded in the battery industry, thus reinforcing its strategic importance in advanced battery applications.
Highlights:
· Ultra-Pure Graphite: Orom-Cross graphite thermally refined to 99.98% wt%C, demonstrating exceptional purity over and above market standards.
· Industry-Leading Loadings: Composite anodes using Orom-Cross graphite achieved 68.4 wt% natural graphite content – one of the highest loadings recorded in the battery industry specific to the EV battery anode composition.
· Superior Performance: Initial electrochemical tests indicate outstanding results, driven by the unique properties of Orom-Cross graphite.
· Strategic Potential: SAFELOOP’s anticipated graphite concentrate demand from Orom-Cross could lead to substantial, high-value offtake opportunities.
Technical Insights and SAFELOOP Progress
During November 2024, Orom-Cross graphite samples were processed by AETC as part of the SAFELOOP initiative. These samples underwent thermal purification, shaping, and composite preparation in which they were co-processed with synthetic graphite to create high-performance anodes.
AETC, alongside other SAFELOOP expert partners, is advancing the development of a high-quality Gen3 Li-ion battery (“LIB”) for Electric Vehicles to be deployed on European soil. Test work completed to date indicates exceptionally promising results in the targeted EV application using Orom-Cross graphite, showcasing its premium quality.
In one of the composites produced during shaping and classification the amount of Orom-Cross natural graphite was a remarkable 68.4 wt% – this is by far one of the highest loadings of natural graphite into a composition of EV battery anodes known in the battery industry. By way of reference, EV anodes are usually synthetic graphite dominant, with the content of synthetic graphite generally representing anywhere from 75-100% of anode composition.
Testing will continue into the next phase as the SAFELOOP project evolves.
SAFELOOP estimates for graphite concentrate volumes required from Orom-Cross to fulfil battery demand is projected to be substantial, should the project transition to commercial-scale production. The SAFELOOP channel therefore represents a tier one opportunity for Blencowe, with the potential for premium pricing far exceeding typical market levels.
Executive Chairman Cameron Pearce commented:
“We are very pleased to see such remarkable results from Orom-Cross graphite, overlaid with AETC’s processing expertise and other SAFELOOP partners’ involvement. Achieving an ultra-pure 99.98% wt%C graphite and one of the highest natural graphite loadings ever recorded at 68.4 wt% underscores the high quality of our graphite deposit and validates the differentiated strategy we have pursued. SAFELOOP aligns perfectly with our development timeline and its potential scale offers an exceptional and valuable offtake channel for the future.”
“Our focus remains on delivering a unique project that stands out in the graphite sector. By pursuing high-value opportunities like micronisation, downstream processing, and now SAFELOOP, we are securing the long-term success of Orom-Cross and building shareholder value.”
AETC Manager of Government Relationship, Anna Doninger commented:
“The preliminary conclusions of the test work conducted to date is that Blencowe’s natural graphite could become an enabling technology for making an EV battery grade composite anodes which contain both natural crystalline flake and synthetic graphites as a coherent whole, and which are simultaneously dominant in their use of natural graphite, behaving at an impressive level in electrochemical performance. This is yet another testimony to the premium quality of Blencowe’s natural graphite and its excellent potential for application in the EV battery market.”
Strategic Outlook
Blencowe is proud to support SAFELOOP in developing safer, part-recycled, high-performance EV batteries. The Company continues to position Orom-Cross as a globally significant graphite project through innovation, strategic partnerships, and market differentiation.
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 jonathan.evans@tavirasecurities.com
|
Twitter https://twitter.com/BlencoweRes
Blencowe Resources #BRES – Investor Webinar Invitation – Tuesday, 25 February 2025
Blencowe Resources (LSE: BRES) is pleased to invite shareholders and investors to a focusIR live Q&A webinar on Tuesday, 25 February 2025, at 18:00 UK time. A recording of the webinar will also be made available post-event.
Blencowe CEO Mike Ralston will provide insights into the Company’s recent developments, including:
- Progress on the 6,700m drilling programme at Orom-Cross, targeting substantial resource and reserve upgrades.
- Advancements in Project SAFELOOP, where Orom-Cross graphite continues to demonstrate exceptional performance in testing.
- Key steps toward DFS completion and upcoming project milestones.
- Market outlook and strategic priorities for Blencowe in 2025.
Mike Ralston, CEO, commented:
“For the previous webinar, I was in Uganda and had some connectivity issues, however, this time I will be joining from home to ensure a smooth session. I look forward to engaging with investors and answering as many questions as possible, please send these in to our info@blencoweresourcesplc.com address and we will be sure to forward to the webinar organisers.”
How to Register:
Investors can register for the webinar here:
https://us06web.zoom.us/webinar/register/5717375627132/WN_Nn5JF-03RN2Gc3ovKHS0hg#/registration
Ask Questions:
Shareholders can submit live questions during the session.
Sign Up for Updates:
Stay informed by subscribing to the Company’s newsletter:
**ENDS**
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 |
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441 |
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
Alan Green covers Sealand Capital #SCGL & Blencowe Resources #BRES & Dan Flynn covers Cobra Resources #COBR on this week’s Stockbox Research Talks
Alan Green covers Sealand Capital #SCGL & Blencowe Resources #BRES & Dan Flynn covers Cobra Resources #COBR on this week’s Stockbox Research Talks
#BRES Blencowe Resources PLC – Commencement of Drilling
Blencowe Resources Plc (“Blencowe” or the “Company”), is pleased to announce that drilling has now commenced on the Phase 7 exploration programme at its Orom-Cross graphite project in Uganda. This 6,750 metre campaign will be the final drilling programme for the purposes of completing the DFS and establishing an updated JORC Resource to support the expanded mining operations at Orom-Cross.
Highlights:
· 6,750 metre programme designed to substantially increase both Resources and Reserves for inclusion into Definitive Feasibility Study (“DFS”).
· Infill drilling on existing deposits to upgrade resource base and classification of all Inferred materials to Indicated and Measured.
· Drilling of new high grade target deposits to define additional Resources.
· Geotechnical drilling for confirmation of pit slope parameters for mine planning.
· Trenching and mapping over licences for future resource targeting
· Upgrade of access roads for all weather access.
· Permanent exploration camp to be commissioned.
The Phase 7 programme will involve drilling over the identified Camp Lode and Northern Syncline deposits, where the Company has already established an existing JORC Resource of 24.5Mt @ 6%. The objective of this drilling is primarily to upgrade existing Indicated and Inferred resources to Measured, under the JORC guidelines.
The Company will also target extensions to the Northern Syncline (Western Limb) as well as the exciting new prospective Southern GT-01 target. Whilst the current average grade of 6% at Orom-Cross is already in the top quartile globally of graphite projects, historical work undertaken by the Company has highlighted the potential for even higher grades in these areas.
As a component of the programme several holes will be drilled to provide the necessary geotechnical information for the confirmation of pit design parameters and slope stability parameters for the project. These holes will also double as Resource definition information. The drilling and subsequent assessment will be undertaken by local Ugandan drilling firm ADT Drilling, whilst Minrom Consulting from South Africa will undertake the geological assessment alongside Middindi Consulting. Both ADT and Minrom have been associated with the Orom-Cross project since 2012 and have a solid understanding of the project.
Other works planned as part of this programme include trenching and mapping on additional areas outlined from aeromagnetics, designed to identify further areas for future resource expansion, noting the existing JORC Resource sits on just ~2% (as drilled to date) of the broader Orom-Cross licence.
The Company has also commissioned the establishment of a permanent exploration camp onsite, with portable units for accommodation and messing being erected onsite to support ongoing operations. These constitute the first fixed facilities on-site, representing a key milestone for Blencowe as it drives Orom-Cross towards first production.
Executive Chairman Cameron Pearce commented:
“We have now started the latest drilling programme at Orom-Cross after considerable preparation work undertaken during December. This extensive campaign will be one of the last key components to wrapping up the DFS and we aim to deliver considerably larger Resources and Reserves to support the higher production levels expected, as well as a longer life of mine.
“We remain on track to complete the DFS in H1 2025 and we expect to begin reporting drilling results during the current quarter.”
Map 1: Orom-Cross drill programs, including Phase 7 and the new GT 01a drill target
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 jonathan.evans@tavirasecurities.com
|
|
First Equity Limited Jason Robertson |
Tel: +44(0)20 7330 1833 jasonrobertson@firstequitylimited.com
|
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger flakes within the deposit.
A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe is now within the Definitive Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.
In 3Q 2024 Blencowe introduced a Joint Venture concept with experienced downstream graphite processing partners to ultimately produce upgraded 99.95% SPG (spheronised, purified graphite) in Uganda. This strategy has several key advantages including additional returns and substantial cost savings which will assist deliver a world class project once DFS is completed.
Blencowe also announced full Minerals Security Partnership (MSP) accreditation in 2024 which provides additional tier-one credibility plus further support from this highly influential quasi-Government organisation. Together with the US$5 million grant funds received from the US Government via the Development Finance Corporation, the Company is building unique and solid relationships to assist with funding solutions for Orom-Cross project implementation.
Blencowe Resources #BRES – Updated Corporate Presentation and Q&A Session
Blencowe Resources (LSE: BRES), the London-listed graphite development company advancing the Orom-Cross Graphite Project in Uganda, is pleased to announce that an updated corporate presentation has been published on the Company’s website.
This updated presentation outlines Blencowe’s evolving strategy, its unique approach to value creation, and the key points of differentiation that set it apart within the graphite sector. The presentation incorporates the Company’s most recent developments, including:
· DFS progress and drilling campaign – Targeting a significant uplift in JORC Resource and Reserves.
· Strategic downstream processing initiatives – Plans for a spheronised, purified graphite (SPG) facility to deliver higher-margin products.
· Tier-one partnerships – Recent involvement with the EU-backed SAFELOOP programme, driving premium pricing opportunities and substantial offtake potential.
· Clear roadmap to production – Outlining milestones and key catalysts ahead.
The updated presentation provides a comprehensive insight into Blencowe’s strategy to differentiate itself from other graphite producers and to capture a greater share of value through downstream integration.
The updated presentation, can be viewed at the following link:
https://blencoweresourcesplc.com/wp-content/uploads/2024/12/Blencowe-Presentation-Dec-2024-v1.pdf
Blencowe CEO, Mike Ralston, will also be discussing the Company’s latest developments and strategy on a live Q&A session on the SmallCapPix.com investor platform on X (formerly Twitter) at 12 noon UK time today. Investors with access to the X platform can join the session using the following link:
https://x.com/smallcappixuk/status/1864650525167255641
Interested investors are encouraged to listen in to hear more about Blencowe’s plans for 2024 and beyond. A recording of the session will be made available shortly afterwards.
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
|
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.
A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit. Blencowe completed a successful Pre-Feasibility Study on the Project in July 2022 and is now within the Definitive Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead. Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs. With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.
In 3Q 2024 Blencowe introduced a Joint Venture concept with experienced downstream graphite processing partners to ultimately produce upgraded 99.95% SPG in Uganda. This strategy has several key advantages plus substantial cost savings which will assist deliver a world class project once DFS is completed.
Blencowe Resources #BRES – Exercise of Warrants
The Directors and Senior Management given notice that they have exercised warrants at 4 pence as follows:
|
Director/Senior Management |
Amount of Warrants |
Funds raised £ |
|
Cameron Pearce |
1,000,000 |
40,000 |
|
Sam Quinn* |
750,000 |
30,000 |
|
Alex Passmore |
400,000 |
16,000 |
|
Mike Ralston |
1,000,000 |
40,000 |
|
3,150,000 |
126,000 |
*via his services company Lionshead Consultants Ltd
Following the exercise of the warrants the Company shall receive £126,000.
Admission
The Company will make an application for 3,150,000 New Ordinary Shares to be admitted to trading on the Equity Shares (transition) category of the Official List and the Main Market of the London Stock Exchange at 8.00 a.m. on 12 December 2024. The expected timetable of principal events for Admission is set out below. All references to time in this announcement are to London time. Any changes to the expected timetable will be notified by the Company though an RIS.
Total Voting Rights
The Company hereby notifies the market, in accordance with the FCA’s Disclosure Guidance and Transparency Rule 5.6.1, that on Admission, the Company’s expected issued share capital will consist of 295,226,620 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in Treasury. On Admission, the total number of voting rights in the Company is expected to be 295,226,620 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 |
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441 |
|
Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
Blencowe Resources #BRES – Publication of Prospectus
Blencowe Resources Plc is pleased to announce that it has today published a Prospectus for the issue of 37,711,260 New Ordinary Shares in connection with the July and November Subscription and the issue of Fee Shares to strategic partners of the Definitive Feasibility Study.
As announced on 22 July 2024, the Company completed a Subscription to raise £159,063 through the issue of 3,181,260 New Ordinary Shares at an issue price of 5 pence and an aggregate of 25,721,250 Fee Shares at an issue price of 5 pence with 22,030,000 Fee Shares to be issued on Admission and the balance of 3,691,250 to be issued and admitted to trading subject to the passing of Resolutions at the General Meeting.
As announced on 6 November 2024, the Company completed a Subscription to raise £500,000 through the issue of 12,500,000 New Ordinary Shares at an issue price of 4 pence on Admission to be issued on Admission.
Following the July and November Subscription, the Company has raised gross proceeds of approximately £659,000.
A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy will also be made available onwww.blencoweresourcesplc.com
Application to listing and trading
The Company will make an application for the 37,711,260 New Ordinary Shares to be admitted to trading on the Equity Shares (transition) category of the Official List and the Main Market of the London Stock Exchange at 8.00 a.m. on 2 December 2024. The expected timetable of principal events for Admission is set out below. All references to time in this announcement are to London time. Any changes to the expected timetable will be notified by the Company though an RIS.
Total Voting Rights
The Company hereby notifies the market, in accordance with the FCA’s Disclosure Guidance and Transparency Rule 5.6.1, that on Admission, the Company’s expected issued share capital will consist of 292,076,620 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in Treasury. On Admission, the total number of voting rights in the Company is expected to be 292,076,620 and this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Expected Timetable of Events
|
Publication of the Prospectus |
26 November 2024 |
|
Admission and commencement of dealings in the Enlarged Share Capital |
8.00 a.m. on 2 December 2024 |
|
Crediting of New Ordinary Shares to CREST |
2 December 2024 |
|
Certificates for the New Ordinary Shares |
Within 10 business days of Admission |
|
Date of General Meeting |
10.00 a.m. on 19 December 2024 |
Notice of General Meeting
The Notice of a General Meeting of the Company, to be held on 19 December 2024 at 10.00 a.m. at 55 Athol Street, Douglas, Isle of Man, IM1 1LA is set out in the Prospectus. A summary of the action you should take is set out in Part X of the Prospectus and in the Form of Proxy.
Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning as set out in the Prospectus.
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
|
Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
|
Tavira Financial – Financial Adviser & Broker Jonathan Evans |
Tel: +44 (0)20 3192 1733
|
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.
A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit. Blencowe completed a successful Pre-Feasibility Study on the Project in July 2022 and is now within the Definitive Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead. Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs. With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.
In 3Q 2024 Blencowe introduced a Joint Venture concept with experienced downstream graphite processing partners to ultimately produce upgraded 99.95% SPG in Uganda. This strategy has several key advantages plus substantial cost savings which will assist deliver a world class project once DFS is completed.
Alan Green covers Silver Bullet Mines #SBMI, Blencowe Resources #BRES & Dan Flynn covers 80 Mile Plc #80M on this week’s Stockbox Research Talks
Alan Green covers Silver Bullet Mines #SBMI, Blencowe Resources #BRES & Dan Flynn covers 80 Mile Plc #80M on this week’s Stockbox Research Talks