Blencowe Resources Plc (LSE: BRES) is advancing the Orom-Cross Graphite Project, located in Uganda, into production before the first quarter of 2027. Last year, the company expanded the size of its JORC 2012 compliant mineral reserve estimate ~47% to 23 million tonnes (Mt), and resource estimate up to 26 Mt. These estimates do not include the 192 step-out holes (83% of the full Stage 7 drill programme) that have been completed at the recently discovered Iyan and Beehive deposits, currently being assayed. Blencowe believes that this drilling has the potential to double the JORC Resource once it is incorporated into another Resource upgrade in early 2026. Last year, Blencowe also completed its Definitive Feasibility Study (DFS), which yielded a post-tax net present value (NPV10) of US$1.087 billion and a post-tax internal rate of return (IRR) of 96%, based on a weighted average selling price of US$1,240/t.
