Blencowe Resources PLC (LSE:BRES) CEO Mike Ralston tells Proactive's Stephen Gunnion the company has reached a significant milestone with the signing of its first memorandum of understanding (MOU) for natural large flake concentrate offtake from the Orom-Cross graphite project in Uganda.
Ralston provided insights into the project’s scale, its high-quality graphite deposit in Uganda, and the progress made over the past four and a half years.
He explained the rigorous testing processes for its large flake and small flake graphite products, emphasising the importance of the large flake product, which represents over 50% of their projected revenue despite being only 14% of their total tonnage.
The CEO also outlined Blencowe’s strategic differentiators, including low operational and capital costs, a $5 million grant from the US Development Finance Corporation (DFC), and plans for downstream processing to add value. Ralston expressed optimism about future news flow, including additional MoUs, the feasibility study completion, and securing funding.
