Blencowe Resources Plc (LSE:BRES) says results from the Stage 7 drill programme at its new Beehive discovery have resulted in a further 21 million tonnes JORC resource increase for the company’s Orom-Cross graphite project.
Since the start of the programme, total Orom-Cross JORC Mineral Resources has increased by 168% and Chief executive Mike Ralston says grades from Beehive are higher than those from initial deposits.
In this interview investors will learn:
- How the latest JORC resource increase impacts funding negotiations for the entire Orom-Cross project
- Why the Beehive deposit has the potential to be an independent project on its own
- How the Iyan and Beehive discoveries could triple the mine life currently calculated at 15 years
- Why the graphite market is going to expand ‘considerably’ over the next couple of years for non-Chinese produced commodities
- How progress and relationships made this year will result in December’s DFS being optimised and updated
- What milestones investors are likely to hear about next
Reasons to add Blencowe Resources Plc (LSE: BRES) to your watchlist:
- 100% owner of the Orom-Cross Graphite project in Uganda, one of the world's largest estimated graphite deposits
- Lowest percentile operating costs, low capital startup requirements, with proven end product
- DFS results include US$2bn free cashflow over the initial 15 years Life-Of-Mine
- Has received full Minerals Security Partnership accreditation
- Received US$5m grant from the DFC, LoI for funding from the AFC and is a member of the international SAFELOOP consortium
- Plans to build an in-country downstream purification facility
- First production expected in 2027
Mike Ralston, CEO of Blencowe Resources was interviewed for focusIR by Sarah Lowther.
