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Graphite at Orom Cross. Alan Green talks to Blencowe Resources #BRES Mike Ralston
Brand Comms CEO Alan Green catches up once again with Blencowe Resources #BRES CEO Mike Ralston.
Mike provides a background on the latest developments at the company’s 100% owned Orom Cross Graphite project in Uganda. We look at the preliminary assay metallurgy test results, before Mike updates on the fully funded Phase 2 drilling campaign.
Mike looks at how the growth in the lithium ion battery and EV market is driving demand for graphite, before providing investors with a milestone route map for the next few months.
Alan Green talks China, commodities, Cadence Minerals #KDNC & Amapa, plus Blencowe Resources #BRES on UK Investor Magazine podcast
Alan Green talks China, commodities, Cadence Minerals #KDNC & Amapa, plus Blencowe Resources #BRES on the UK Investor Magazine podcast
Daily Mail – Blencowe Resources completes takeover of Ugandan graphite project
Talking about joining markets, there has been a lot of 
chatter in the market about Blencowe Resources, which relisted on AIM in April at 6p and peaked at around 9p earlier this week, before succumbing to a bout of profit-taking.
Following a £2million fundraise and the reverse takeover of Consolidated African Resources, Blencowe now owns the Orom Graphite Project in northern Uganda, a development that has clearly resonated with investors.
Graphite is a core material used in batteries that power electric vehicles, laptops and phones and is an often-overlooked element in the energy storage revolution.
Link here to view the full article
Blencowe Resources #BRES – New High-Grade Graphite Zone Identified at Orom-Cross Project
The Company is pleased to provide a further update to its ongoing comprehensive JORC Resource diamond drilling program at the Orom-Cross Graphite Project in Northern Uganda.
Highlights
Following a review and remodelling of geophysical survey program data acquired earlier this year, as well as historical pitting and drill results, a highly prospective High-Grade Zone has now been outlined approximately 250m from the current exploration camp site.
The identification of this new High-Grade Zone, which is also in close proximity to the intended plant location, has the potential to lower operating costs as well as deliver additional economic benefits for the overall project.
Following the lifting of travel restrictions as a result of COVID-19, the Company is mobilising drill teams to site this week to recommence the previously outlined broader drilling program. It has now authorised the redirection of a drill rig to test the zone with a single drill hole. This hole is subsequently expected to be completed within the next 10 days and will be reported on in due course along with additional drilling results.
Executive Chairman Cameron Pearce commented;
“Blencowe is looking at all ways possible to continuously add value to the Orom-Cross Project and the identification of this High-Grade Zone near to infrastructure is further indication of this. We will complete initial confirmatory drilling on this first hole shortly and if the results are positive we will consider how best to include this zone into the overall JORC Resource program that is underway.”
For further information please contact:
|
Blencowe Resources Plc Cameron Pearce / Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 sam@lionsheadconsultants.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.
Graphite miner Blencowe set to shine in 2020 – UK Investor Magazine
The latest resource company to list on LSE – Blencowe Resources (LON: BRES) – has enjoyed a strong few weeks of trading since relisting on April 28th, moving up nearly 50% from 6p towards 9p in a weak market where many of its peers are heading in the opposite direction. What makes Blencowe and its Orom-Cross Graphite Project in Uganda stand out as special?
Graphite is not particularly high profile as a mining commodity, but it is a naturally occurring form of crystalline carbon. It has many uses today, but key to its importance is that graphite makes up approximately half the weight of a lithium-ion battery, used extensively for powering electric vehicles (EV) and storing renewable energy around the globe.
Every EV currently contains between 30-50kgs of graphite within its lithium-ion battery, and like all batteries, from time to time they need replacing. Most auto manufacturers around the world have thrown down markers and timelines to replace current diesel and petrol vehicles with electric versions, and although the pace of change around the EV revolution hasn’t swept all before it as dramatically as was initially predicted, the burgeoning levels of investment into battery production and EV production suggests that demand for the core minerals is set to extrapolate over the next decade and beyond.
Enter Blencowe Resources and its Orom-Cross Project, which is one of the largest graphite deposits in the world, estimated to contain over three billion tonnes. Furthermore, most of its graphite is near to surface, which means it can be mined easily and at very low cost.
Add to this the high quality of the graphite, its ability to upgrade to a highly sought-after concentrate and a recently awarded 21- year mining license and it is clear that Blencowe has all the attributes to develop into a world class graphite play. Another important factor is the project’s location in Uganda. The English-speaking nation is universally viewed as one of the most stable African countries, with all the requisite qualities in which to develop a world class resource project.
With over 50% of the world’s graphite currently forecast to come out of much higher risk Southern African countries such as Mozambique, Madagascar and Tanzania, lithium-ion battery producers and auto manufacturers are rightly concerned that one of their key source products may be at risk of a supply bottleneck, all of which makes the case for Blencowe’s Orom-Cross project even more compelling.
And at a paltry £8m market cap, Blencowe may be one junior resource company worth following closely over the next few years as it develops this extraordinary asset into production. Covid-19 restrictions notwithstanding, Blencowe has plenty lined up in 2020, with a maiden JORC resource number and strategic partnerships announcements expected. One thing is already clear – the Orom graphite project will be right on time for the anticipated explosion in demand for EV’s and battery technology.
Blencowe Resources #BRES – Recommencement of Phase Two Metallurgical Test Work for Orom-Cross Graphite Project
Blencowe Resources Plc, is pleased to announce it has now recommenced key metallurgical test work on its Orom-Cross graphite project in Northern Uganda. The test work, which began in South Africa at the start of 2020, had been placed on hold for six weeks from late March due to a nationwide lockdown introduced by the government to help combat Covid-19. Blencowe is pleased to report these restrictions have now been partially lifted, allowing for labs to recommence the processing of existing samples from Orom-Cross. This work is being undertaken by technical experts Metanza.
The objective of the ongoing metallurgical test work is to further understand the quality of the end- product that Orom-Cross can deliver, as well as what the process flow will look like. Blencowe believe Orom-Cross has the potential to deliver a high grade graphite concentrate, which would prove desirable to potential offtakers and the broader market.
The Company recently announced that it’s ongoing 59 hole and 1800 metre diamond drilling programme in Uganda was also due to recommence in the near term, following Covid-19 related shutdown. The drill programme (of which circa 25% has already been completed) is designed to deliver a maiden JORC Resource for Orom-Cross during the middle of 2020. Both the drilling and the metallurgical test work are fully funded and form integral parts of the development of this project. The Company looks forward to both sets of results ahead of the commencement of a feasibility study later in the year.
Phase 2 Metallurgical Testwork Program
In the second half of 2019 Metzana Minerals in South Africa was commissioned to undertake a first phase confirmatory metallurgical test work program to confirm Total Graphite Content (TGC) of at least 94%, and to consider recoveries, impurities and retention of flake size within the concentrate. This was successfully achieved along with confirmation of low impurities.
In February 2020 a resultant second phase test work campaign commenced to build on the positive findings in phase one and to confirm the liberation pathway for increased recoveries and an even higher grade within the concentrate.
The first two (of six) stages for this work was completed prior to Coronavirus lockdown in South Africa, and work is now resuming on the remaining stages as that country re-opens.
The key objectives of the Phase Two metallurgical test work are as follows:
- Confirm a 95-97% TGC pure concentrate is possible with low impurities (particularly thorium and vanadium).
- Confirm ~80% recovery is achievable for this concentrate.
- Confirm the liberation process in order to maintain a majority of Jumbo/XL/Large flakes within the concentrate.
- Confirm the process flow diagram for plant design as part of the forthcoming Feasibility Study.
Deliver bulk concentrate to allow Blencowe to initiate discussions with potential off-takepartners.
If Blencowe is able to deliver a concentrate with these properties it will have a graphite product of considerable value. Early results are encouraging with both recovery and grades at higher levels than the first stage testwork program.
Upon completion Blencowe will be able to initiate discussions with various potential offtake parties as regards sale of product, which is a critical part of the overall process to bring Orom-Cross into production.
Likely timing to complete this exercise is approximately three months but this remains dependant on business practises returning to normal in South Africa to allow for work there to continue unhindered.
Cameron Pearce Executive Chairman commented; “The first phase of metallurgical test work completed during the Orom-Cross due diligence exercise provided evidence that the graphite concentrate could achieve a 94% TGC, which was a highly encouraging result for a first pass, being an acceptable level for sale of product. This next phase of work is designed to take the product to the next level by targeting a higher grade 95-97% TCG as well as increased recoveries. If successful it will significantly increase the desirability and value of the Orom- Cross product. Understanding both the end product and the process flow to deliver this, is a significant step forward in terms of value creation.
We are confident we can achieve our stated objectives and thus deliver a quality product that will be higher up the price curve as well as in greater demand. I look forward to providing further updates in due course.”
For further information please contact:
Blencowe Resources Plc
Sam Quinn (UK Director)
Brandon Hill Capital Limited
Jonathan Evans (Corporate Finance)
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 info@blencoweresourcesplc.com
www.brandonhillcapital.com
Tel: +44 (0)20 3463 5000 jonathan.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.