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Blencowe Resources #BRES – Director Dealings
Director/PDMR Share Purchase
Blencowe Resources Plc (“Blencowe” or “The Company”) (LSE: BRES) is pleased to announce that the Chairman, Cameron Pearce and the CEO Mike Ralston have purchased 100,000 ordinary shares each in the Company (“Ordinary Shares”) on market at a price of 6.45 pence per Ordinary Share.
Following this share purchase, Mr Pearce holds 7,016,667 Ordinary Shares (5.9% of the enlarged share capital) and Mike Ralston has a shareholding of 2,725,000 Ordinary Shares (2.3% of the enlarged share capital).
Further details are set out in the PDMR forms below.
For further information please contact:
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Blencowe Resources Plc Sam Quinn
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Tel: +44(0) 1624 681 250 info@blencoweresourcesplc.com
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Investor Enquiries Sasha Sethi
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Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
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Brandon Hill Capital Limited Jonathan Evans
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Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com |
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First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 jasonrobertson@firstequitylimited.com |
The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Mike Ralston ATF the Ralston Family Trust
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2
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Reason for the notification |
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Intial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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||||
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a)
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Name
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Blencowe Resources PLC |
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b)
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LEI
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213800UX1HBIRK36GG11 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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||||
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares |
|||
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Identification code |
GB00BFCMVS34 |
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b)
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Nature of the transaction
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Share Purchase |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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6.45 pence |
100,000 |
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d)
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Aggregated information |
||||
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– Aggregated volume |
100,000 |
||||
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– Price |
£6,450 |
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e)
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Date of the transaction
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29 April 2021 |
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f)
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Place of the transaction
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Outside a Trading Venue |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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||||
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a)
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Name
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Cameron Pearce
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2
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Reason for the notification |
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a)
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Position/status
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Chairman |
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b)
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Initial notification /Amendment
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Intial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
|
||||
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a)
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Name
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Blencowe Resources PLC |
|||
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b)
|
LEI
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213800UX1HBIRK36GG11 |
|||
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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||||
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares |
|||
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Identification code |
GB00BFCMVS34 |
||||
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b)
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Nature of the transaction
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Share Purchase |
|||
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c)
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Price(s) and volume(s) |
||||
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Price(s) |
Volume(s) |
||||
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6.45 pence |
100,000 |
||||
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d)
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Aggregated information |
||||
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– Aggregated volume |
100,000 |
||||
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– Price |
£6,450 |
||||
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e)
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Date of the transaction
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29 April 2021 |
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f)
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Place of the transaction
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Outside a Trading Venue |
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END
Blencowe Resources #BRES – Investor Webinar – 19 April 2021
Blencowe Resources (BRES:LON), the graphite explorer developing the Orom-Cross jumbo flake graphite project in Uganda, is pleased to announce that it will host a shareholder webinar and Q&A via Zoom video conferencing at 12:00pm BST / 7:00pm WST on Monday 19 April 2021.
The call will be hosted by Blencowe’s CEO Mike Ralston who will discuss the recently announced maiden JORC Resource Statement for the Company’s Orom-Cross graphite project in addition to the forward work programme for the Orom-Cross for 2021. Please see RNS also released on 13 April 2021 further details upon the Orom-Cross maiden JORC.
Interested participants are invited to pre-register for the conference using the link below. Please note that registration is a pre-requisite to access the webinar:
https://us02web.zoom.us/webinar/register/WN_rKWakxGxQBONys_xiR-xeg
The Company also invites shareholders who may wish to, to submit questions in advance via email to info@blencoweresourcesplc.com
The Company’s corporate presentation can be found at the following link:
https://blencoweresourcesplc.com/presentation/
Please note that until the Q&A session has begun that all participants will initially be muted without audio with the exception of Company management. Telephone only dial-ins from UK and international locations can be provided upon request.
A recording of the call will also be made available on the Company’s website following the call.
**ENDS**
For further information please contact:
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Blencowe Resources Plc Sam Quinn
|
Tel: +44(0) 1624 681 250 info@blencoweresourcesplc.com
|
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Investor Enquiries Sasha Sethi
|
Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
|
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Brandon Hill Capital Limited Jonathan Evans
|
Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com |
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First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 jasonrobertson@firstequitylimited.com |
Background
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.
Blencowe Resources #BRES CEO Mike Ralston talks to StockBox Media
Blencowe Resources #BRES CEO Mike Ralston talks to StockBox Media. Mike delivers a visual overview of the Orom-Cross Graphite Project and the progress made towards declaring a maiden JORC resource number.
Blencowe Resources #BRES CEO Mike Ralston talks to StockBox Media
Blencowe Resources #BRES CEO Mike Ralston talks to StockBox Media about the Orom Cross Graphite project, with some 2-3mt near to the surface.
As the company moves towards a maiden JORC resource number, Mike looks at the the huge potential offered by the project, and how the area sampled and met tested represent just 0.5% of the total project size.
Mike also covers the recent fundraisings and the board participation, and then takes a look at the global battery metals market, the growth in the graphite market and some of the key players.
Blencowe Resources #BRES – Investor Conference Call
Blencowe Resources (BRES:LON), the graphite explorer developing the Orom-Cross jumbo flake graphite project in Uganda, is pleased to announce that it will host a shareholder conference call and Q&A via Zoom video conferencing at 10:00am BST / 6:00pm WST time on Monday 25 January 2021.
The call will be hosted by Blencowe’s CEO Mike Ralston who will discuss the following topics:
· Current status of the EV market and effect on battery metal demand, and forecast ahead
· Potential mix of Blencowe’s end products
· Progress Blencowe have made to date at their Orom-Cross project
· Work underway and planned in near term and remainder of 2021
To participate in this conference call, please use the following link to join the meeting:
https://us02web.zoom.us/j/83311263720
Alternatively, for phone conferencing only, participants may dial local UK number +442030512874 and enter meeting ID 833 1126 3720.
Shareholders who wish to do so are invited to submit questions via email to info@blencoweresourcesplc.com
The most recent copy of the Company’s corporate presentation can be found at the following link:
https://blencoweresourcesplc.com/presentation/
Please note that until the Q&A session has begun that all participants will initially be muted without audio with the exception of Company management. A recording of the call will also be made available on the Company’s website following the call.
**ENDS**
Contacts
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Blencowe Resources Plc
Sam Quinn (London Director)
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info@blencoweresourcesplc.com +44 (0)1624 681 250
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Investor Enquiries Sasha Sethi
|
Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
|
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Brandon Hill Capital Limited Jonathan Evans
|
Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com |
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First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 jasonrobertson@firstequitylimited.com |
Background
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.
Blencowe Resources #BRES CEO Mike Ralston discusses progress at the Orom Cross Graphite project with Vox Markets
Blencowe Resources #BRES CEO Mike Ralston discusses progress at the Orom Cross Graphite project with Vox Markets. Mike explains why Orom-Cross is a potential world class jumbo flake graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. The project presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite, and Mike also explains how the development is expected to benefit from a low strip ratio and free dig operations, resulting in lower operating and capital costs. Click on the image to listen to the podcast
Blencowe Resources #BRES – Placing to Raise £300,000, Directors and CEO Purchase of Shares, Issue of Options and Operational Update
Blencowe Resources, the natural resources company focussed on the development of the Orom-Cross Graphite Project in Uganda, is pleased to provide the following corporate and operational update.
Highlights:
- £300,000 new funds raised from existing shareholders and management at 6p per share
- £75,000 of these new shares acquired by Directors and the CEO showing strong support
- Directors and Senior Management issued with incentive share options
- Drilling completed at world class Orom-Cross graphite project in Uganda
- Samples recently sent to South Africa for assaying and maiden JORC Resource.
- Further samples sent to highly accredited SGS Lakefield laboratory in Canada for stage two metallurgical test work.
- Results for both expected in 1Q 2021.
Fundraise and Purchase of Shares
The Company is pleased to announce that it has raised £300,000 from placees at 6 pence per share, including a total of £75,000 from the Directors including the Chairman (Cameron Pearce), Director (Sam Quinn) and CEO (Mike Ralston) whom have subscribed for £25,000 each respectively. Subscribers have also received an attaching 1 for 1 warrant to subscribe for shares at 8 pence per share for a period of three years. Funds will be used to advance the Orom-Cross development into 2021.
Following the Placing, Mr Pearce now has a shareholding of 6,916,667 Ordinary Shares (6.3% of the enlarged share capital), Mr Quinn has a shareholding of 4,666,667 Ordinary Shares (4.2% of the enlarged share capital) and Mike Ralston has a shareholding of 2,625,000 Ordinary Shares (2.4% of the enlarged share capital).
An application has been made for 5,000,000 Ordinary Shares to be admitted to trading on the London Stock Exchange with effect from 8.00 a.m. on 23 December 2020.
In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 109,964,116 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to 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.
Issue of Options
As set out in the Company’s Prospectus, the Company intended to issue options to Directors and senior management over 10% of the issued share capital of the Company. Given the stage of development of the Company and to properly align Directors and Senior Management with shareholders, the Company now announces the grant of 10 million options as set out below, at 6p per share, for a period of five years. These options will not vest unless the share price of the Company trades in excess of 10p per share for 10 consecutive days.
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Cameron Pearce (Chairman) |
2,500,000 |
£0.06 |
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Mike Ralston (CEO) |
2,500,00 |
£0.06 |
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Lionshead Consultants Ltd (Sam Quinn) (Non Exec Director) |
1,750,000 |
£0.06 |
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Alexander Passmore (Non Exec Director) |
750,000 |
£0.06 |
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Iain Wearing (COO) |
2,500,000 |
£0.06 |
Operational Update
Blencowe has completed its 2,000m diamond drill program at Orom-Cross and it is now awaiting assay results in South Africa, in order to deliver its maiden JORC Resource for the project. In parallel the Company is also awaiting metallurgical test results from samples sent to SGS Lakefield in Toronto, one of the leading experts in graphite concentrates and end-product formulation.
Following from these Blencowe will be moving to develop its first commercial study for Orom-Cross during 1H 2021, which will indicate the strong potential for an initial ten year mining operation.
Cameron Pearce Executive Chairman commented:
“We are pleased to announce further cash has been raised to extend all development work for Orom-Cross into 2021, with key stakeholders contributing meaningfully in a show of faith. We appreciate all their support and we look forward to a successful year ahead with some significant milestones and continued progress. Graphite is fast becoming one of the hottest commodities around as electric vehicle (EV) expansion accelerates worldwide and Blencowe is positioning itself strategically as a significant future player in this space.”
For further information please contact:
|
Blencowe Resources Plc Sam Quinn (London Director)
|
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 info@blencoweresourcesplc.com |
|
Investor Enquiries Sasha Sethi |
Tel: +44 (0) 7891 677 441 Email: sasha@flowcomms.com |
|
Brandon Hill Capital Limited Jonathan Evans (Corporate Finance) |
Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com |
Background
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.
Link here for TR1 notification docs
Blencowe Resources #BRES – Orom-Cross Samples to Labs for Preparation leading to Maiden JORC Resource and Metallurgical test work
Blencowe is pleased to announce that core samples from its recently completed 69-hole diamond drill program (for approx. 1,950 meters), at the Orom-Cross graphite project in Uganda, have been dispatched to an accredited SGS laboratory in Tanzania. The samples will now be prepared and then forwarded to SGS in South Africa to enable completion of the studies and verification by SGS ahead of inclusion in the Company’s maiden JORC Resource at Orom-Cross, expected in Q4 2020.
Additional samples will be sent to SGS in Toronto, one of the leading technical experts in graphite processing, to complete Phase Two metallurgical test work and identify optimal concentrate figures for a high quality, large flake product. These results are expected in Q1 2021.
Both the JORC Resource and the metallurgical test work are integral parts of the next stage of development and follow on from a highly successful drilling campaign in 2020 at Orom-Cross. Blencowe intends to incorporate these results to present a Feasibility Study in 2021, which will deliver first commercial outcomes for the project.
In other corporate activities, Blencowe can advise one of the subscribers in the recent admission to the standard list of the main market (“Admission”), Apul Investments, was unable to deliver on its subscription commitments. Consequently, the Board has now replaced Apul Investment’s subscription with existing and supportive shareholders at the same terms being 6p per subscription share. The CEO and COO being Mike Ralston and Iain Wearing respectively have participated in this reallocation and subscribed for £12,500 each (208,333 shares each).
Executive Chairman Cameron Pearce commented;
“We have successfully navigated the initial phase of post-acquisition work at Orom-Cross, designed to underline its size and quality as a world class graphite asset. We are now moving into the next phase where we intend to deliver commercial outcomes through 2021 and beyond.”
“Blencowe remains highly optimistic on the longer term outlook for flake graphite, particularly as a key component of the lithium-ion battery that will power electric vehicles and store renewable energy from various sources. As the world emerges from Covid-19 many analysts are forecasting an even stronger bias towards growth in renewables than ever before. Having a substantial project within our Company that will deliver a critical element of this seismic shift will be very valuable, particularly given current forecasts of a substantial flake graphite shortage from 2025 onwards.”
PDMR Notification Form
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Michael Ralston ATF the Ralston Family Trust | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Chief Executive Officer | |||
| b) | Initial notification /Amendment | Initial Notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Blencowe Resources PLC | |||
| b) | LEI | 213800UXIHBIRK36GG11 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares | |||
| Identification code | GB00BFCMVS34 | ||||
| b) | Nature of the transaction | Purchase | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.06 | 208,333 | ||||
| d) | Aggregated information | ||||
| – Aggregated volume | 208,333 | ||||
| – Price | £12,500 | ||||
| e) | Date of the transaction | 18/9/2020 | |||
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Iain Wearing | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Chief Operating Officer | |||
| b) | Initial notification /Amendment | Initial Notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Blencowe Resources PLC | |||
| b) | LEI | 213800UXIHBIRK36GG11 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares | |||
| Identification code | GB00BFCMVS34 | ||||
| b) | Nature of the transaction | Purchase | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.06 | 208,333 | ||||
| d) | Aggregated information | ||||
| – Aggregated volume | 208,333 | ||||
| – Price | £12,500 | ||||
| e) | Date of the transaction | 18/9/2020 | |||
| f) | Place of the transaction | Outside a trading venue |
For further information please contact:
| Blencowe Resources PlcSam Quinn (London Director) | www.blencoweresourcesplc.comTel: +44 (0)1624 681 250info@blencoweresourcesplc.com |
| Brandon Hill Capital LimitedJonathan Evans (Corporate Finance) | Tel: +44 (0)20 3463 5000jonathan.evans@brandonhillcapital.com |
About Orom-Cross Project
Orom-Cross is a substantial graphite project in northern Uganda. Blencowe Resources acquired 100% of this asset in April 2020 following extensive due diligence and a capital raise of £2 million in the UK. These funds will be utilised to advance Orom-Cross through to a maiden JORC Resource, followed by a feasibility study and ultimately to a decision mine.
Orom-Cross has several key characteristics that suggest it can be a standout graphite project; namely considerable size and scale, significant graphite near to surface that suggests low strip ratio for mining and a low cost operation, predominantly large flakes which may yield a high grade, highly sought after concentrate as its end-product, and a lower sovereign risk location as considered in relation to many other similar large graphite projects in Africa.
Alan Green talks to Mike Ralston, CEO of Blencowe Resources (LON: BRES) about the company’s 100% owned Orom Graphite Project
Brand Comms CEO Alan Green talks to Mike Ralston, CEO of Blencowe Resources (LON: BRES) about the company’s 100% owned Orom Graphite Project in Uganda. Mike explains the rationale behind what is a huge project in scale, the low extraction costs and the quality of the ‘jumbo flake’ graphite. He touches on the company structure and provides takeaway points for investors.