New Risk • May 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£5.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£5.0m free cash flow). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£40.0m market cap, or US$53.8m). Ankündigung • May 20
Blencowe Resources Plc Announces Maiden JORC Mineral Resource For Beehive Deposit Blencowe Resources Plc announced a maiden JORC (2012) Mineral Resource Estimate for the Beehive deposit, part of the Company's 100% owned Orom-Cross graphite project in Uganda. Beehive is one of two substantial new discoveries (together with Iyan) made through the Company's most recent drilling programme and represents another major step change in Orom-Cross scale. Following the maiden Iyan JORC Mineral Resource (which lifted the Orom-Cross resource base by 66% to 43.0 Mt), the maiden Beehive JORC Mineral Resource adds 21.3 Mt @ 6.58% TGC (Inferred) and increases total Orom-Cross JORC Mineral Resources to 64.3 Mt @ 6.03% TGC (Measured + Indicated + Inferred) across Northern Syncline, Camp Lode, Iyan and Beehive. This further demonstrates Orom-Cross as a multi-deposit, long-life, large-scale graphite development with total Orom-Cross JORC Mineral Resources up 168% since commencement of the Stage 7 programme. Importantly, the current Beehive JORC Resource has been modelled over only circa 22% of the Beehive anomaly and largely within the upper 25-30 metres tested by shallow drilling. Combined with previously reported deep drilling demonstrating mineralisation continuing to approximately 100 metres depth, the Company believes Beehive retains significant upside potential beyond the current modelled area. With a materially expanded resource base now defined, the Company has been progressing further DFS optimisation work to incorporate the enlarged inventory, evolving downstream pathways, and ongoing commercial discussions. This work is well advanced and a further update is expected prior to the end of Second Quarter 2026. Beehive Maiden JORC Mineral Resource update; Beehive JORC Mineral Resource: 21.3 Mt @ 6.58% TGC (Inferred) at a 3.5% TGC cut-off; Higher-grade component defined: 17.5Mt @ 7.0% TGC; Total Orom-Cross JORC Mineral Resources (revised): 64.3Mt @ 6.03% TGC (Measured + Indicated + Inferred) at a 3.5%TGC cut-off; Measured Resource: 1.20 Mt @ 5.13% TGC; Indicated Resource: 16.41 Mt @ 5.7% TGC; Inferred Resource: 46.70 Mt @ 6.17% TGC; Stage 7 drill programme impact: total Orom-Cross JORC Mineral Resources have increased by 168% since commencement of the Stage 7 programme; Depth continuity: deep drilling previously demonstrated mineralisation continuing to >100m at both Iyan and Beehive deposits; Beehive scale: the current model covers just 22% of the total Beehive target anomaly and is largely confined to the upper 25-30 metres of the deposit; Cost Efficiency: these exceptional results have been achieved at a cost of under USD 10/tonne, which is very low by industry standards; DFS optimisation update: expected prior to the end of Second Quarter 2026; Strategic and funding workstreams: discussions with counterparties remain ongoing, supported by the increased scale and deposit pipeline as development planning progresses. Block model of the Beehive Deposit. Mineralisation remains open along strike and at depth; multiple drill holes end in mineralisation. Table 1: Orom-Cross JORC Mineral Resource Summary by Deposit (JORC 2012; 3.5% TGC cut-off). Northern Syncline + Camp Lode + Iyan + Beehive = 64.3 Mt. Deposit Measured (Mt) Indicated (Mt) Inferred (Mt) Total (Mt) Grade Northern Syncline 1.20 14.19 8.14 23.53 5.4% Camp Lode - 2.22 0.36 2.58 6.9% Iyan -- 16.90 16.90 6.0% Beehive -- 21.30 21.30 6.6% Total Orom-Cross 1.20 16.41 46.70 64.30 6.0% Totals subject to rounding. Category splits and grade weighting are as reported by the Competent Person. Ore Reserves remain unchanged and are presented separately below. Table 2: Orom-Cross Ore Reserve Summary (unchanged, JORC 2012) Northern Syncline + Camp Lode only. Deposit Ore Reserve (Mt) Grade (%TGC) Northern Syncline 20.59 4.99 Camp Lode 2.49 6.74 Total Ore Reserve 23.08 5.18 Ore Reserves are a subset of Mineral Resources and are not additive to the JORC Mineral Resource total. Both Iyan and Beehive deposits are currently reported as a maiden JORC Mineral Resource only and have not yet been converted to Ore Reserves. Further infill drilling is required to bring a portion of both Iyan and Beehive Resources into Reserves. JORC Mineral Resource Upgrade Confirms Scale and Upside The maiden Beehive JORC Mineral Resource confirms a thick graphite system at shallow depths within the modelled area, while previously reported deep drilling demonstrates mineralisation continuing to approximately 100 metres depth. Beehive has been modelled largely within the upper 25-30 metres and over only part of the target anomaly, and the Company believes there is clear scope for resource growth through step-outs and further modelling. Key implications of the upgrade: Step-change in scale: Beehive lifts total Orom-Cross JORC Mineral Resources to 64.3 Mt; reinforcing a multi-deposit, long-life, large-scale graphite development; Resource growth runway: mineralisation remains open beyond the current modelled area, with step-out and depth upside indicated by drilling to date; Development and mineability: continuity and near-surface thickness support open-pit development assumptions and low strip potential, consistent with a low-cost mining profile; Metallurgical alignment: grade profile and mineralisation style remain consistent with prior testwork and current processing assumptions; Efficient conversion: conversion expenditure remains comparatively low, supporting continued definition of additional tonnes and the potential to upgrade classifications as modelling progresses. With a materially expanded inventory now defined, the Company has been progressing further DFS optimisation work to incorporate the enlarged resource base, evolving downstream pathways, and ongoing commercial discussions. Strategic offtake and funding discussions also continue alongside development planning, and the Company will provide updates as and when disclosure is permitted and appropriate, in line with its regulatory obligations. The information in this release, which is related to Mineral Resource estimation, was compiled under the supervision of Mr. Oscar Van Antwerpen who is the CEO of Minrom Consulting (Pty) Ltd; he is Member of the Geological Society of South Africa (GSSA) and a Registered Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP). Mr. Oscar Van Antwerpen has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined by the JORC (2012) Code. Ankündigung • May 02
Blencowe Resources plc Reports Final Assay Results for Beehive Deposit Blencowe Resources Plc has provided the final assay results from shallow drilling at the Company's new Beehive deposit, one of two substantial new deposits (together with Iyan) recently delineated at the Company's Orom-Cross Graphite Project in Uganda. As part of the Stage 7 drilling programme, the Company completed 110 shallow drill holes at Beehive, to test the continuity, thickness and near-surface extent of graphite mineralisation. This announcement reports the final batch of assay results received (40 holes), positioned predominately to the south of the target area, completing the shallow assay dataset for Stage 7 ahead of the Company's next major resource milestones. This will include a maiden JORC Mineral Resource for Beehive and an updated JORC Mineral Resource for the wider Orom-Cross system. The shallow Beehive programme was designed to define near-surface, bulk minable graphite mineralisation, with holes drilled to a planned depth of approximately 30 metres. The majority of reported holes intersected graphite mineralisation from near surface to end-of-hole, with many holes ending in mineralisation, supporting potential for continuation below the current shallow drilling depth. This interpretation remains consistent with the previously reported deeper drilling at Beehive, which demonstrated mineralisation continuing to approximately 100 metres depth. The Company notes that, while this shallow programme was not intended to close out the southern extent of the deposit, results continue to support potential extensions within the broader target area, particularly toward the western end of the deposit. With assaying now complete, the Company's independent geological consultants have progressed a preliminary mineralisation model highlighting potential extents of the deposit in the hinge area at Beehive. This is in addition to advanced modelling for the upcoming maiden JORC for Beehive where a material update is expected. Final assays before JORC: this batch completes the remaining shallow results ahead of a maiden Beehive JORC Resource and a wider Orom-Cross JORC Resource upgrade. Thick near-surface mineralisation: multiple holes deliver long intervals from surface within the near-surface envelope. High-grade zones within bulk mineralisation: strong grades continue to occur within the broader mineralised package. Average grades are consistent with DFS assumptions, with multiple higher-grade zones within bulk mineralisation. Step-out upside: drilling indicates potential extensions to the west and south of the target area. Selected significant intercepts include: BHDD-L327: 0-30.8m | 22.23m true width (TW) @ 7.73% total graphitic carbon (TGC), BHDD-L331: 3.68-31.0m | 20.85m TW @ 7.67% TGC, BHDD-L335: 2.0-31.0m | 22.64m TW @ 6.30% TGC, BHDD-L402: 9.04-31.4m | 18.88m TW @ 6.67% TGC, BHDD-L404: 15.25-31.5m | 11.88m TW @ 6.68% TGC, High-grade zone: BHDD-L310: 0-3.3m | 2.9m TW @ 10.30% TGC, BHDD-L307: 0.78-18.32m | 13.79m TW @ 6.89% TGC, BHDD-L403: 0-9.0m | 6.94m TW @ 7.68% TGC. (TGC refers to Total Graphitic Carbon. TW = true width.) These results continue to support the interpretation of a thick graphite system at shallow depths, while previously reported deeper drilling demonstrates mineralisation continuing to approximately 100 metres depth. Together, the shallow and deep datasets provide the basis to define the near-surface component and the wider vertical growth runway at Beehive. Beehive has been defined over approximately 1,200 metres of strike and 480 metres of width to date and remains open for step-out extensions to the north and west (particularly toward the western end of the deposit), and to the south; this is in addition to depth continuity below the current shallow ~30m drilling horizon. Modelling is now at an advanced stage and the Company expects to issue a maiden Beehive JORC Mineral Resource shortly (subject to finalisation of the model and reporting). Based on the thickness, continuity and grade profile demonstrated across the programme, together with the defined footprint of the deposit to date, the Company believes Beehive has the potential to represent a material addition to the Orom-Cross resource inventory. The Company will also provide an updated total Orom-Cross JORC Mineral Resource at the same time. Beehive Deposit - Preliminary Mineralisation Model. Beehive Deposit - Key Drill Results. Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern Syncline, and new Iyan (Northern Syncline Western Limb) and Beehive (GT 01a) deposits. Ankündigung • Apr 18
Blencowe Resources plc Reports Beehive Drilling Results and Provides Update on Graphite Mineralisation Blencowe Resources Plc provided an update on further assay results from shallow drilling at the company's new Beehive deposit. Both Beehive and Iyan are substantial new exploration finds within the most recent 2025 drill programme and both will contribute significantly to the size and scale of the Orom-Cross graphite project. As part of the Stage 7 drilling programme, the Company completed 110 shallow drill holes at Beehive, designed to test the continuity, thickness and near-surface extent of graphite mineralisation. This announcement reports further assay results from 36 holes (including additional coverage toward the northern extent), following the Company's previous Beehive assay update. The shallow programme was designed to define near-surface, bulk mineable graphite mineralisation, with holes drilled to a planned depth of approximately 30 metres. The majority of reported holes intersected graphite mineralisation from near surface to end-of-hole, with many holes ending in mineralisation, highlighting potential for continuation below the current shallow drilling depth. This is consistent with previously reported deeper drilling at Beehive, which demonstrated graphite mineralisation continuing to approximately 100 metres depth. Whilst the drilling was intended to close out the northern extent of the deposit, results also indicate potential for additional extensions of up to ~400m - particularly toward the northern and western end of the deposit - within the broader target area. An additional 36 assay results were received and compiled from the Stage 7 programme: Thick near-surface mineralisation: multiple holes deliver ~30-32 meters mineralisation from surface, supporting depth continuity and bulk mining potential. Strong bulk grades across the batch: 12 holes average =5.0% TGC and 8 holes average =6.0% TGC over the drilled intervals highlighting strong in situ grades within Beehive. High-grade frequency: all holes are mineralised and grades are consistently higher than overall average grades for other deposits within Orom-Cross. Selected Beehive Significant Shallow Intercepts Include: BHDD-L101: 31.5 meters @ 8.19% TGC from surface, BHDD-L111: 31.4 meters @ 8.00% TGC from surface, BHDD-L327: 31.2 meters @ 7.67% TGC from surface, BHDD-L113: 31.92 meters @ 7.59% TGC from surface, including 9.32m @ 11.14% TGC, BHDD-L133: 31.4 meters @ 6.83% TGC from surface, BHDD-L102: 29.61 meters @ 6.11% TGC from surface, BHDD-L325: 31.3 meters @ 6.21% TGC from surface. These additional shallow results continue to support a thick graphite system at shallow depths, while previously reported deeper drilling has demonstrated mineralisation continuing to approximately 100 metres depth. Together, this work is building the dataset required to define the near-surface component and progress modelling toward a maiden Beehive JORC Mineral Resource scheduled for the Second Quarter 2026. Further Beehive assay batches are being passed directly to the Company's independent geological consultants, Minrom, for validation and quality assurance. Results will be reported progressively as batches are cleared and, subject to modelling, are intended to support a future Beehive JORC Mineral Resource update and provide further clarity on overall scale and development readiness as Blencowe continues to progress strategic and funding discussions in parallel. Beehive has been defined over approximately 1,200 metres of strike and 480 metres of width to date, with scope for extensions beyond the current drill lines. Beehive Deposit - Key Drill Results: Beehive Deposit drill sections showing thick, continuous graphite mineralisation remaining open at depth. Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern Syncline, and new Iyan (NS western limb) and Beehive (GT 01a) deposits. Ankündigung • Mar 06
Blencowe Resources Plc Announces Maiden JORC Mineral Resource for Iyan Deposit Blencowe Resources Plc reported the completion of a maiden JORC (2012) Mineral Resource Estimate Statement for the recently discovered Iyan deposit, part of the Company's 100% owned Orom-Cross Graphite Project in Uganda. The maiden Iyan JORC incorporates assay results from the 87 shallow drill holes completed to date with an Inferred Mineral Resource of 16.9 Mt @ 6.0% TGC, confirming Iyan as a high-tonnage, near-surface extension of the wider Northern Syncline graphite system. The addition of Iyan materially increases the overall Orom-Cross Mineral Resource base and further demonstrates Orom-Cross as a multi-deposit, long-life, large-scale graphite development. Iyan JORC Resource Orom-Cross 2026 Mineral Resource update; Maiden Iyan Mineral Resource: 16.9 Mt @ 6.0% TGC (Inferred) at a 3.5% TGC cut-off. Total Orom-Cross revised JORC Mineral Resource (2026 update): 43.0 Mt @ 5.76% TGC (Measured + Indicated + Inferred) @ 3.5% TGC cut-off. Measured Resource: 1.20 Mt @ 5.13% TGC. Indicated Resource: 16.41 Mt @ 5.7% TGC. Inferred Resource: 25.40 Mt @ 5.82% TGC. 66% uplift in JORC Resource. Open for growth: mineralisation remains open along strike and at depth at Iyan, with multiple holes ending in mineralisation. Beehive next: assays results are now being received for the other discovery, and these results will be incorporated into a future further JORC update. Funding advancing: the increased scale and deposit pipeline support ongoing strategic and funding discussions as the Company progresses development planning. Table 1: Orom-Cross Mineral Resource Summary by Deposit (reported; JORC 2012; 3.5% TGC cut-off). Northern Syncline + Camp Lode + Iyan = 43.0 Mt. Deposit Measured (Mt) Indicated (Mt) Inferred (Mt) Total (Mt) Grade Northern Syncline 1.20 14.19 8.14 23.53 5.4% Camp Lode - 2.22 0.36 2.58 6.9% Iyan - - 16.90 16.90 6.0% Beehive TBC TBC TBC TBC TBC Total Orom-Cross 1.20 16.41 25.40 43.01 5.8%. Totals subject to rounding. Beehive is not included in the reported Mineral Resource total; a Beehive Mineral Resource will be reported once drilling results have been received and modelled. Iyan Deposit Block model: Block model of the Iyan Deposit. Mineralisation remains open along strike and at depth; multiple drill holes end in mineralisation. Ore Reserves remain unchanged and are presented separately below. Table 2: Orom-Cross Ore Reserve Summary (unchanged, JORC 2012) Northern Syncline + Camp Lode only. Deposit Ore Reserve (Mt) Grade (%TGC) Northern Syncline 20.59 4.99 Camp Lode 2.49 6.74 Total Ore Reserve 23.08 5.18. Ore Reserves are a subset of Mineral Resources and are not additive to the Mineral Resource total. The Iyan Deposit is currently reported as a maiden Mineral Resource only and has not yet been converted to Ore Reserve. Further infill drilling is required to bring a portion of Iyan Resources into Reserves. Step-change in Size and Scale: maiden Iyan MRE lifts total Orom-Cross JORC Mineral Resources to 43.0 Mt, strengthening project scale and development optionality. Confidence + Mineability: strong continuity over ~2.2 km strike; shallow drilling supports open-pit potential and a low strip ratio. Metallurgy aligned: consistent with prior testwork, supporting current processing assumptions. Exceptional growth runway remains. Beehive and step-outs: additional drilling results are being received and will be incorporated into future updates, providing scope for further Mineral Resource growth. Depth upside: deeper drilling has confirmed mineralisation to over 100 metres in all deep holes drilled to date at both Iyan and Beehive, indicating vertical expansion potential. Licence largely untested: only ~2% of the licence area has been drill tested to date. The information in this release, which is related to Mineral Resource estimation, was compiled under the supervision of Mr. Oscar Van Antwerpen who is the CEO of Minrom Consulting (Pty) Ltd; he is Member of the Geological Society of South Africa (GSSA) and a Registered Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP). Mr. Oscar Van Antwerpen has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined by the JORC (2012) Code. Mr. Oscar Van Antwerpen consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. GC - Graphitic carbon, TC - Total carbon. No geological losses applied. A conservative cut-off grade of 3.5% GC has been applied based on metallurgical testing & preliminary mining parameters. Mineralised tonnes have been rounded off and contained graphite tonnages have been rounded off to the nearest 1000 (Kt). Contained graphite has been reported without the application of cut-off grades, loss factors, or beneficiation yields. Ankündigung • Feb 25
Blencowe Resources plc Reports the Final Set of Assay Results Completed from the 87 Shallow Holes Drilled At the Iyan Deposit Blencowe Resources Plc reported the final set of assay results completed from the 87 shallow holes drilled at the Iyan deposit, part of the Company's Orom-Cross Graphite Project in Uganda. These results represent the third batch from the Stage 7 drilling programme, with results continuing to exceed expectations and supporting the imminent maiden JORC resource estimate for the Iyan deposit, which will increase the overall Orom-Cross resource base. This maiden JORC resource will represent the first formal resource estimate for Iyan and further strengthen Orom-Cross as a multi-deposit graphite project. This final batch completes the Stage 7 drilling programme at Iyan, providing the last data required for the maiden Iyan JORC Resource estimate, expected shortly. Results at Orom-Cross continue to demonstrate that the bulk mineralisation at Iyan is accompanied by repeated higher-grade zones, providing flexibility within mine planning for blending and supporting overall project value. These latest shallow holes were drilled to approximately 30 metres depth, deliberately selected to define near-surface mineable material rather than test geological limits. Iyan Drilling - Highlights: Final assay batch drilling results continue to exceed expectations and support imminent maiden JORC resource estimates for Iyan, increasing the overall Orom-Cross Resource base; Thick, laterally continuous near-surface graphite mineralisation confirmed; Multiple intercepts of >30m from surface, with several holes ending in mineralisation; Iyan will be developed as a bulk blending deposit, supporting efficient, low-strip mining; Higher-grade zones persist within bulk mineralisation, enhancing blending flexibility; Results support near-term resource growth, larger-scale development and ongoing funding and offtake discussions; Southern drill lines indicate potential extension of mineralisation toward the Northern Syncline hinge; Selected Significant Shallow Intercepts - Iyan Deposit (Selected downhole intervals; mineralisation from surface unless stated otherwise); NSDD-L103: 15.64m @ 10.13% TGC, including 5.02m @ 14.42% TGC and 1.00m @ 18.37% TGC; NSDD-L307: 9.44m @ 11.42% TGC, including 4.00m @ 18.89% TGC; NSD D-L508: 13.71m @ 8.26% TGC, including 4.,01m @ 11.00% TGC (ended in mineralisation); NSDD-L503: 10.72m @ 8.18% TGC, including 3.06m @ 12.37% TGC;NSDD-L408: 9.60m @ 8.95% TGC from surface, including 2.50m @ 13.76% TGC; NSDd-L402: 10.00m @ 7.96% TGC, including 4". Ankündigung • Feb 11
Blencowe Resources Plc Announces Orom-Cross Graphite Confirms High-Quality Feedstock for High Value Synthetic Diamond Manufacture Blencowe Resources Plc announced the results of additional test work confirming that graphite concentrates from the Orom-Cross Project are suitable for the manufacture of synthetic industrial diamonds, further validating the quality, versatility and downstream optionality of the Company's graphite feedstock. The test work was undertaken by American Energy Technology Co. ("AETC") in Chicago and forms part of Blencowe's value-addition programme focused on demonstrating commercially viable, non-China downstream applications for Orom-Cross graphite. Crucially, the test work achieved a diamond conversion yield of 53.6wt%, exceeding the typical industry benchmark of approximately 50%. AETC notes that this threshold is widely regarded as critical in determining whether synthetic diamond production can be undertaken economically outside China, given the highly competitive cost structure of the industry. Conversion yields below this level typically necessitate lower-cost Chinese processing to remain viable. Production of industrial diamonds provides Orom-Cross with another significant value-adding enhancement opportunity beyond sale of graphite as concentrates and Blencowe will be seeking offtake opportunities in this sector ahead as it continues to drive towards first production. Synthetic diamond manufacture is a specialised, high-value industrial market where feedstock quality and conversion efficiency directly influence cost competitiveness. These results confirm that Orom-Cross graphite meets the technical thresholds required to support economically viable diamond production outside China, opening additional downstream pathways alongside the Company's core battery and energy transition strategy. This optionality further differentiates Orom-Cross as a high-quality, non-China graphite source, aligned with increasing Western focus on secure supply chains, local processing and advanced manufacturing. Importantly, the confirmation of multiple high-value end markets strengthens the overall Orom-Cross development case and supports Blencowe's ongoing funding and offtake processes. In parallel, the Company continues to progress drilling and resource definition across the project, with remaining assay results from the Iyan and Beehive programmes expected to be reported progressively, building toward sequential JORC resource updates. Ankündigung • Feb 04
Blencowe Resources plc Provides an Update on Assay Results from Shallow Drilling At the Iyan Deposit Blencowe Resources Plc provided an update on assay results from shallow drilling at the Iyan deposit, one of the two new deposits recently discovered at the Company's Orom-Cross graphite project in Uganda. The Iyan deposit (named after the local indigenous people) represents the western extension of the Company's Northern Syncline graphite system. As part of the Stage 7 drilling programme, the Company completed 72 shallow drill holes at Iyan, designed to test the continuity, thickness and near-surface extent of graphite mineralisation across the deposit. This announcement reports assay results received to date from an initial 15 holes, which are considered representative of the broader drilling programme. The shallow Iyan drilling was deliberately designed to define near-surface, bulk mineable graphite mineralisation, with holes drilled to a planned depth of approximately 30 metres. Importantly, the majority of reported holes intersected graphite mineralisation from near surface to end-of-hole, with many holes ending in mineralisation, highlighting clear potential for continuation below the current drilling depth. Results reinforce potential to add meaningful near-surface tonnage within trucking distance of planned processing facilities. Outcomes support near-term resource growth as the Company advances funding discussions in parallel. While graphite deposits are typically assessed on a bulk-tonnage basis, the Orom-Cross system continues to demonstrate that even its bulk mineralisation contains numerous higher-grade zones, providing flexibility for mine planning, blending and value optimisation. This combination of scale, consistency and quality is increasingly relevant for downstream processing pathways and long-term offtake discussions. The Company notes that further Iyan assay results are expected shortly, with laboratory results being passed directly to the Company's independent geological consultants, Minrom for validation and quality assurance procedures. Results will be reported progressively following completion of this work, ultimately supporting an updated resource estimate and providing further clarity on scale, mine life and development readiness as Blencowe advances funding discussions. Ankündigung • Feb 02
Blencowe Resources Plc, Annual General Meeting, Feb 26, 2026 Blencowe Resources Plc, Annual General Meeting, Feb 26, 2026. Location: the offices of fim capital limited, 55 athol street, douglas, Isle of Man Ankündigung • Jan 15
Blencowe Resources Plc Announces European Purification Results from Testwork Underway with Alkeemia S.P.A Blencowe Resources Plc announced further exceptional high-grade purification results from testwork undertaken in association with Alkeemia S.P.A. This is the first Orom-Cross purification test work conducted within the EU and it represents a bridge into that significant market moving forward. Purification testing upgraded all Orom-Cross products to 99.99 carbon content. It is extremely rare for purified graphite to achieve these 4-nines. Four-nines purity is considered the highest purification grade possible and is required for lucrative defence, nuclear and specialist energy applications. Independent European processing confirms non- Chinese purification capability. Alkeemia's process offers a cleaner, lower-toxicity and lower-carbon alternative to conventional Chinese technologies. Independent testing by a specialist European firm strengthens ongoing offtake discussions and opens additional sales opportunities into European markets. Discussions with Alkeemia regarding potential direct offtake and European purification arrangements. Initial results show that all Orom-Cross concentrates tested were successfully upgraded using Alkeemia's proprietary process to achieve 99.99% carbon content, exceeding the 99.95% purity typically required for lithium-ion battery applications. This level of purity enables Blencowe to target aher-value, strategically important end markets including niche defence and nuclear and specialist industrial applications where product quality, traceability and supply security are critical. Importantly, the Alkeemia process provides a Western, non- Chinese, purification route, utilising a simpler, less toxic, and more cost-effective methodology than conventional acid-based processes widely used in China. This further aligns Orom-Cross with growing European and US policy objectives to establish secure independent, and sustainable critical mineral supply chains. Orom-Cross has previously achieved 99.99% purity through testwork conducted by American Energy Technology, a US based technical graphite specialist, using their own proprietary thermal process that differs from the chemical-based approach employed by Alkeemia. The AETC relationship has since evolved to introduce Blencowe a range of valuable niche offtake opportunities, including testing with US Dept of Defence and the EU SAFELOOP initiative. Blencowe believes that engagement with Alkeemia has the potential to develop in a similar manner providing a gateway to European downstream markets. With AETC and Alkeemia utilising different purification methodologies, the Company is also broadening its downstream optionality across multiple high-purity processing routes. Future Relationship Blencowe and Alkeemia have identified areas of mutual technical and commercial interest and are continuing discussions regarding potential future collaboration. The ability to deliver ultra-high-purity graphite products through a European-based purification route adds further upside potential to the DFS economics by expanding access to higher-margin, supply-constrained end markets. Engagement with specialist European processors such as Alkeemia also provides valuable technical validation and supports broader dialogue with a wider range of downstream customers and strategic end users, particularly within Europe. Ankündigung • Jan 09
Blencowe Resources plc Reports the Remaining Two Deep-Hole Assay Results from the Newly Discovered Beehive Deposit Blencowe Resources Plc reported the remaining two deep-hole assay results from the newly discovered Beehive deposit, located approximately 3kms from the existing Northern Syncline and Camp Lode deposits at the Orom-Cross graphite project in Uganda. Beehive is an extensive new graphite discovery made during the Company's broader Stage 7 drilling programme in 2025, with exploration there comprising three deep holes to depths below 100 metres to test continuity and 108 shallow holes designed to test graphite mineralisation from surface to 30 metres, which is considered most attractive for low cost-effective mining. Following the exceptional results previously reported from deep Hole L238B (returning 92.55m @ 6.83% TGC), the Company now reports further excellent drilling results from Beehive deep holes L237B and L239B. These results continue to highlight Beehive as a thick, continuous graphite system and reinforces its potential to deliver meaningful higher-grade early production tonnes within the broader Orom-Cross mining strategy. Together with recent results from the Iyan Deposit and the existing Northern Syncline & Camp Lode resources, these Beehive results further support Orom-Cross as a graphite system of sufficient scale to underpin long-life and multi-decade production; a key consideration for strategic and institutional funding groups. In addition to the three Beehive deep holes the programme included 108 shallow holes at Beehive and 72 shallow holes at Iyan. Assay results from these remaining holes are expected near term, providing a clear pipeline of ongoing newsflow as the Company progresses funding discussions in parallel. Beehive Deposit deep-hole drill sections showing thick, continuous graphite mineralisation remaining open at depth. Hole L237B: 93.98m (TW) @ 6.03% TGC, comprising three stacked mineralised intervals from near surface to 118.22m, including: 22.61m (TW) @ 10.10% TGC, including internal high-grade interval of 3.00m @ 14.64% TGC, including 1.46m @ 14.3% TGC, and including 1.00m @ 12.72% TGC 14.17m (TW) @ 5.42% TGC from surface, including grades up to 9.4% TGC 57.20m (TW) @ 4.58% TGC, including 2.08m @ 12.75% TGC Hole L239B: 95.45m (TW) @ 5.,62% TGC, comprising two stacked mineralised intervals from 2.73m to end of hole at 120.20m, including: 81.00m (TW) @ 5". 81.00m (TW), including 0.67m @ 18.90% TGC, including 1.,00m @ 11.98% TGC, including 1,00m @ 11.96% TGC, including 4.00m @ 9.95% TGC - 14.45m (TW) at 4.49% TGC, including 0.69m @ 15.46% TGC. These latest two holes reported are in addition to Hole L238B which was announced in December 2025, with 92.55 metres (TW) @ 6.83% T GC, including 15.89 metres @ 9.42% TGC and 8.38 metres @ 10.95%. Size, scale and continuity are important factors for strategic and institutional funding groups, which typically focus on projects capable of supporting long-life, multi-decade production. Blencowe has existing licenses to explore a mineralised area at Orom-Cross over 20 kilometres in length yet all drilling completed to date sit only within the (ML 1959) Mining License zone which is just a small part of the overall deposit and licensed area. Orom-Cross graphite projects showing ML1959 as a part of the overall licensed area. Blencowe now awaits assay results from the remaining 108 shallow holes drilled at Beehive sits within the Company's existing 21-year Mining Licence (ML 1959) granted in 2019, adding to its development and permitting strength. Demand for graphite continues to grow, especially for higher quality end-products such as those delivered from Orom-Cross over 20 kilometers in 2019, especially for higher quality end the Company's development and permitting strength. demand for graphite continues to date, especially for graphite continues to its development and permitting strength and permitting strength.59) granted in its development and permitting strength. New Risk • Dec 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (UK£28.2m market cap, or US$37.7m). Ankündigung • Dec 15
Blencowe Resources plc Announces the First Assay Returned from the Six Deep Holes Drilled During the Stage 7 Programme At Orom-Cross Blencowe Resources Plc announced the first assay returned from the six deep holes drilled during the Stage 7 programme at Orom-Cross confirmed substantial high-grade graphite mineralisation with near-continuous graphite intercepted from near surface to approximately 100 metres. This hole was drilled at the newly identified Iyan deposit. Iyan lies immediately adjacent to the Northern Syncline and represents a new mineralised zone that is not included in the current JORC Resource reported in November 2025. The exceptional continuity and grades encountered over long intervals in this first deep hole indicate the potential for a material expansion of resources in future JORC updates. Importantly, this hole remains open at depth demonstrating that the mineralised system continues beyond the limits of current drilling. This result is the first of three deep holes drilled at Iyan, with assays pending for the remaining Iyan deep holes and also the three deep holes drilled at the new Beehive deposit. The first deep hole drilled into the Iyan Deposit (L909B) returned continuous graphite mineralisation from 4 metres below surface to the end of hole at 100 metres. Key mineralised intervals (True width): 18.85m @ 7.01% TGC from 4.0-32.7m; 29.47m @ 5.34% TGC from 32.7-62.2m; 10.88m @ 5.10% TGC from 62.2-73.1m The hole concluded still in mineralisation, underscoring both the depth continuity and the likelihood of a significantly larger system extending below the current drilling limits. The results from L909B confirm Iyan as a substantial new deposit, with several important implications: Not included in the current JOR C Resource, so all mineralisation represents direct upside; Excellent continuity of grade from near surface to ~100m supports long-life, lower-cost open-pit mining potential; Located immediately beside the Northern Syncline, offering operational synergies; Interpreted to form the western continuation of the Northern Syncline, indicating a potentially far larger mineralised system; Enhances long-term project scale, supporting the Company's ability to offer multi-decade supply potential to strategic partners. These early results strongly support the view that Orom-Cross continues to scale into a globally significant graphite project. Stage 7 Drilling Programme - Ongoing Assays The remaining deep-hole assays from both Iyan and Beehive, together with results from the extensive shallow drilling completed across the remaining holes within the drill programme, will ultimately be incorporated into updated geological models. These datasets are expected to inform an additional resource upgrade in early 2026. Ankündigung • Dec 12
Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £3 million. Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,857,140
Price\Range: £0.07
Transaction Features: Subsequent Direct Listing Ankündigung • Dec 03
Blencowe Resources plc Announces Results of the Recently Completed Definitive Feasibility Study for its 100%-Owned Orom-Cross Graphite Project in Uganda Blencowe Resources Plc announced results of the recently completed Definitive Feasibility Study ("DFS") for its 100%-owned Orom-Cross graphite project in Uganda. The DFS assesses an initial 15 year Life of Mine ("LOM"); with only ~2% of the deposit drilled, the Company expects significant Life of Mine extensions as further drilling converts additional resources to reserves. (NPV 10): USD 1.087 billion): Internal Rate of Return (IRR 10): 96%; All in Sustaining Costs (AISC): USD 48/t over LOM (lowest quartile globally); Free Cash Flow: USD 2.034 Billion over initial 15 years LOM; Average Annual EBITDA: USD 230 million per annum over LOM; Phase 1 Production ("P1")): Smaller scale, fast-track operation targeting first production in 1H-2027 (20,000 tpa concentrate with micronised products); Downstream Value-Add: In-country beneficiation facility to produce purified graphite. Phase 2 Production ("P2"): Expansion to 70,000 tpa concentrate and 20,000 tpa USPG nearby; Scalability: Long-term pathway to 175,000 tpa concentrates and 80,000 tpa purified products. Lowest Quartile Total Capital Requirement of USD 160 million comprising: USD 40 million for P1, delivering up to 20,000 tpa concentrate; USD 120 million for P2, lifting up to 70,000 tpa concentrates, up to 20,000 tpa USPG; Significant contingency included within these capital estimates; All further expansions post - P2 to be funded entirely from internal cash flow Project Strategy; Orom-Cross will commence with P1 Production, a smaller-scale, fast-track development delivering up to 20,000tpa of 96% TGC concentrates by 1H-2027. P1 is designed to be profitable from first production, materially reducing financial risk. Once P1 production begins and product quality is demonstrated at scale the Company expects additional offtake interest, particularly given the scarcity of new high-quality graphite projects coming online. Next steps: Pathway to P1 Funding and First Production Completion of the DFS provides Blencowe with a fully defined, independently verified and finance-ready project, marking the transition into the execution phase of development. Ankündigung • Nov 27
Blencowe Resources plc Announces Major JORC Resource & Reserve Upgrade At Orom-Cross Significant Reserve Growth and Expanded Geological Footprint Underpins Development Pathway Blencowe Resources Plc announced the completion of the updated JORC 2012 Mineral Resource and Ore Reserve Statement ("JORC") for its 100%-owned Orom-Cross Graphite Project in Uganda. This upgrade incorporates all the infill drilling undertaken in 2025 across the Camp Lode and Northern Syncline/Eastern Limb deposits and represents the final key technical input into the Company's Definitive Feasibility Study ("DFS"), to be published shortly. The updated JORC confirms a substantial increase in Ore Reserves and a meaningful uplift in Indicated Resources, further validating Orom-Cross as a large-scale, long-life, low-cost graphite project with significant future expansion potential. This update covers only infill drilling results from 39 holes at Camp Lode and NorthernSyncline. A further 192 step-out holes, drilled across the wider mining license area at the new Iyan and Beehive deposits, including the six deep drillholes (each of which terminated in graphite mineralisation at depths of ~100 metres), are yet to be incorporated. These results collectively demonstrate the broader system scale potential and are expected to support an additional JORC expansion post-DFS in 2026, providing a powerful growth runway for the Project. Total JORC Ore Reserves (Proven + Probable): Proven Reserve: 1.29 Mt @ 5.13% TGC; Probable Reserve: 21.78 Mt @ 5.18% TGC; Total Ore Reserves: 23.08 Mt @ 5.18%TGC This represents a significant uplift of 47% or 7.36Mt versus previous JORC Ore Reserve Estimate reported in 2022 Total JORC Mineral Resource (Measured + Indicated + Inferred at a 3.5%GC cut-off): Measured Resource: 1.20 Mt @ 5.70% TGC; Inferred Resource: 8.50 Mt @ 5.41% TGC; Total Resource: 26.10 Mt @ 5.58% TGC This represents a 7% increase on previous JORC estimate, including a 33% (4.1Mt) in Indicated Resources. A detailed breakdown of Reserves and Resources by deposit (Camp Lode and Northern Syn Cline) is provided in the further below. Key Results and Significance of the Upgrade: 47% uplift in Ore Reserves - major de-risking milestone for DFS; 33% increase in Indicated Resources - improves early-life mine confidence and enhances project bankability; Strong geological continuity across both primary deposits, reaffirming Orom-Cross as a rare, large-scale, low-strip, shallow graphite system; High-quality metallurgical consistency fully aligned with prior test work, supporting both concentrate quality and downstream USPG processing. Exceptional growth runway remains, with: 192 step-out holes (83% of full Stage 7 drill program) ready to be integrated into second major JORC upgrade post-DFS in 20 26; Majority of remaining holes drilled across new Iyan and Beehives deposits. The substantial increase in Ore Reserves & Indicated Resources confirms the quality, scale and longevity of the project as move into the DFS and financing phase. The remaining 192 exploration holes and the deep drilling results, which all ended in mineralisation, highlight the huge potential for further JORC Resource upgrades still ahead of the company in early 2026. With the DFS due to be published shortly, will be able to demonstrate the strengthened technical and economic foundations of Orom-Cross at a time when secure, high-quality graphite supply is becoming increasingly important to Western governments." Contained graphite has been reported without the application of cut-off grades, loss factors, or beneficiation yields. Ankündigung • Nov 01
Blencowe Resources plc Announces the Final Assay Results from Its Stage 7 Drilling Programme At Its Orom-Cross Graphite Project in Northern Uganda Blencowe Resources Plc announced the final assay results from its Stage 7 drilling programme at its Orom-Cross graphite project in northern Uganda. These results mark the completion of the infill drilling phase and they provide the last data required to finalise the JORC Resource and Reserve update, which is a key input into the Definitive Feasibility Study (DFS) due for completion by December 2025. The Northern Syncline represents Orom-Cross's largest deposit and the bulk of the long-term mine plan. The latest infill assays have returned strong graphite intersections across the full depth of the oxide zone, highlighting the remarkable continuity of this orebody. The strategy was to close gaps from earlier campaigns to improve geological confidence and to upgrade the classification of Resources to Reserves. These results follow the strong Camp Lode assays reported earlier this month, which confirmed a series of high-grade, near-surface zones ideal for early-stage mining and cash flow generation. Together, these deposits provide both high-grade starter feed and long-life scalability, strengthening overall project economics and underpinning a robust mine plan for Orom-Cross. All infill and geotechnical data are now being incorporated into the updated geological model, which will underpin detailed mine design, pit optimisation and sequencing for the DFS. This information will also feed into the JORC Resource upgrade, which is expected to deliver a material increase in Reserves to support a longer mine life at higher production rates. While the Lyan, Beehive and deep holes assay results will not form part of the imminent JORC update, these zones have shown promising continuity along strike and at depth, confirming significant exploration upside. Their results will be reported post-DFS and will support the definition of a new Exploration Target as the basis for further growth in the JORC Resource in 2026. The length of these intersections and their shallow nature combine to allow for low strip ratios and an overall reduction in mining costs, which is a critical requirement for success ahead. This drill programme continues to highlight that Orom-Cross has substantial volume of graphite near to surface, it has high grade zones, it continues at depth, and it has continuity. When add the very high quality end products confirmed by international test work, the company believe the company are developing one of the premier graphite ore bodies in the world. What also makes this so remarkable is that have still only drilled a small fraction of Orom-Cross overall which provides huge upside potential ahead. As the company move toward the DFS release and project financing discussions, the company continue to see exceptional technical validation and growing interest from institutional and strategic partners worldwide. The Company drilled 39 diamond drillholes in the Northern Syncline deposit as part of a resource infill and upgrade exercise. At Northern Syncline these holes have fulfilled the intended purpose by infilling the gaps from the previous drill programs as the Company takes a measured and methodical approach to the confirmation and upgrade of the resource classification for the deposit. The company is extremely buoyed by these results as they indicate the consistent and continuous nature of the mineralisation along the strike of the deposit but also over the depth of the oxide zones to 30 meters. Ankündigung • Oct 22
Blencowe Resources plc Announces Further Assay Results from Its Stage 7 Drilling Programme At Its Orom-Cross Graphite Project in Northern Uganda Blencowe Resources Plc announced further assay results from its Stage 7 drilling programme at its Orom-Cross graphite project in northern Uganda. The Stage-7 campaign, the largest undertaken by the Company to-date, combined geotechnical drilling, infill drilling and exploration drilling (both step-out and deep drilling) across multiple deposits, including Camp Lode, Northern Syncline and Beehive. The programme is designed to both expand and upgrade existing mineralisation with the infill component specifically focused on converting existing JORC Resources into Reserves for inclusion within the Definitive Feasibility Study (DFS), which remains on track for completion in Fourth Quarter 2025. Initial assays from the infill drilling at Camp Lode have delivered a sequence of strong, high-grade near-surface hits, underscoring Orom-Cross's exceptional blend of scale, shallow mineralisation and low-cost, open-pit potential. Hole L1601: 13.63m @ 6.18% TGC. Hole L1703: 27.49m @ 8.18% TGC, including 6.4m @ 10.19% TGC and 10.95m @ 11.13%TGC Significance: These results confirm high-grade extensions within and adjacent to the planned pit area, providing additional higher-grade tonnes that will strengthen early-stage project economics. Access to elevated-grade material early in the mine schedule is expected to enhance cash flow and shorten payback once operations commence. Drilling Programme Integration: Geotechnical and infill drilling data will be combined in the updated geological model to feed detailed mine design and mine sequencing for the Definitive Feasibility Study. Combined with assay results from the Northern Syncline infill this data will feed into the JORC Resource and Reserve upgrade, targeted to materially increase the mineable tonnage within the DFS. Northern Syncline extensions and Beehive deposit will both deliver tonnes into a revised Orom-Cross exploration target to highlight future potential. Laboratories have confirmed that Northern Syncline infill assays are being finalised, and results are expected shortly. Most recently, Apollo Energy Systems in the U.S. achieved a 12% performance gain using Orom-Cross graphite in lead-acid batteries, opening another diversified large market opportunity. These are all exceptional outcomes that reinforce the tier one quality and versatility of product and project. They come as near completion of the DFS, which will showcase Orom-Cross as one of the cleanest, most advanced and commercially attractive graphite projects globally. The Company drilled 11 diamond drillholes in the Camp Lode deposit as part of a Resource infill and upgrade exercise. At Camp Lode, these holes have indicated a possible grade extension to the orebody in the south-east, with the holes infilling an area between the main drilling from the Stage 6 program and exploratory holes drilled in Stage 5 to define the probable limit of the lode. The resultant assays represent very high grades of graphite in comparison to the overall Orom-Cross resource. The intersections from the program all occur within the area of the completed drilling with the majority of the intersection occurring within 26 meters of the surface. The ability to mine substantial volume of graphite from shallow depths contributes to Orom-Cross having operating costs sitting within the lowest percentile of graphite projects worldwide, and this is considered a major advantage as Blencowe drives towards first DFS completion and Phase 1 production. The results from these 11 holes at Camp Lode, plus the 4 geotechnical holes recently announced, will be included within the resource model updates. The assay labs are continuing to prioritise the Orom-Cross samples and the Company expects further results shortly. New Risk • Oct 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 6.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£24.7m market cap, or US$33.2m). Ankündigung • Sep 26
An undisclosed buyer acquired 5.76% stake in Blencowe Resources Plc (LSE:BRES) from Jangada Mines Plc (AIM:JAN). An undisclosed buyer acquired 5.76% stake in Blencowe Resources Plc (LSE:BRES) from Jangada Mines Plc (AIM:JAN) on September 26, 2025. Jangada Mines Plc sold 21,050,000 Ordinary Shares in
Blencowe Resources Plc.
Strand Hanson Limited acted as financial advisor for Jangada Mines Plc.
An undisclosed buyer completed the acquisition of 5.76% stake in Blencowe Resources Plc (LSE:BRES) from Jangada Mines Plc (AIM:JAN) on September 26, 2025. Ankündigung • Aug 22
Blencowe Resources plc Provides an Update on Progress Within the Definitive Feasibility Study At Orom-Cross Graphite Project in Uganda Blencowe Resources Plc provided an update on progress within the Definitive Feasibility Study ("DFS") at its Orom-Cross graphite project in Uganda. The Company has now completed all major infrastructure workstreams within the Definitive Feasibility study ("DFS") alongside the recent drilling campaign, which was the largest in the Company's history. This drill programme was designed to increase the mineable reserves base as well as explore a new deposit and it exceeded expectations. Much of this DFS work also fed into milestones set by the US International Development Finance Corporation ("DFC") for grant funding, further validating Orom-Cross as a world-class graphite project. DFS has input USD 4.75 million to date of the total USD 5.0 million total grant funds with the remainder due on DFS completion. DFS Infrastructure Progress Power: Two separate substations on either side of Orom-Cross will provide access to abundant hydropower from Uganda's national grid, ensuring both low-cost renewable energy and redundancy. This positions Orom-Cross as a future supplier of "green graphite" with strong ESG credentials which is a key requirement for battery offtakers. Roads: A UK Government-sponsored programme is underway to upgrade, widen and seal the Kitgum-to -Kidepo road that passes nearby the project, with a major intersection designed to provide direct access to Orom-Cross. Once completed, the route from site to Kenya port access will be fully sealed, providing a significant long-term logistics advantage, particularly when Orom-Cross scales up. Other Infrastructure: Water, communications and camp facilities are all currently being established, with rail access from Gulu being considered as an option ahead. Together all these factors reduce upfront capital intensity and accelerate the pathway to production. The first permanent camp is being constructed at Orom-Cross with a view to providing initial accommodation for the first production phase ahead. DFS delivered one of the lowest capital cost estimates to bring any significant new graphite project into production worldwide, and the DFS is expected to deliver a similarly positive result. This advantage stems from all major infrastructure required for mine start-up already being available and close to site including roads, power, water and communications. The result is threefold: substantial upfront capital cost savings, shorter timelines to reach first production and substantially less debt to service and repay over life of mine. The Company has also provided detailed reports to the US International Development Finance Corporation (DFC) demonstrating how this infrastructure can be fully operational for start-up, further validating Orom -Cross as a low-cost, fast-to-market project with unique logistics and ESG credentials. In parallel, following further guidance from the laboratories, first assay results from the 6,750m drilling programme are expected shortly. These results will underpin what is anticipated to be a material upgrade to the JORC Resource, reflecting the exceptional drill campaign that has already indicated both extended mineralisation and a brand new graphite deposit nearby at Beehive. Ankündigung • Aug 12
Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £0.29 million. Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £0.29 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,250,000
Price\Range: £0.04
Security Features: Attached Warrants
Transaction Features: Subsequent Direct Listing Ankündigung • Jul 08
Blencowe Resources plc Receives Further USD 0.75 Million Grant Funding from US International Development Finance Corporation Blencowe Resources Plc announced receipt of a further $0.75 million tranche of grant funding from the US International Development Finance Corporation, bringing total funds received under the overall USD5.0 million technical assistance grant to $4.75 million (95%). The final tranche of $0.25 million will be paid upon completion of the Definitive Feasibility Study (. This DFC funding is non-dilutive to shareholders of the Company, and the support arrives at a critical juncture, as the US Government continues to assess which global projects to support in the energy transition. Graphite remains a declared US critical mineral, and the strong backing of Orom-Cross by the DFC signals both confidence in the project and strategic alignment with broader US priorities. Key Milestones Delivered to Secure This Tranche: · Completion of all infill drilling, to substantially increment the Mineable Reserves · Completion of all infrastructure scope - power, roads, water, communications and camp These milestones mark substantial progress in finalising the Definitive Feasibility Study ("DFS"). The Company recently completed an infill drilling program as part of its wider drilling campaign to infill sections of the existing drilling database to provide further geological confidence and ultimately to provide additional mineable tonnes or Reserves within the DFS. Once assays are finalised, independent geological consultant, Minrom will deliver an updated JORC Resource Statement. This larger and upgraded resource will provide Orom-Cross with a longer life of mine including the capacity to produce and sell greater volumes annually. Crucially, upgrading Inferred and Indicated Resources into Measured Resources and Reserves is a key requirement for inclusion in the Definitive Feasibility Study, as only Reserves can be counted for mine planning. This work will underpin the final DFS and enhance commercial outcomes, particularly as graphite demand is forecast to double over the medium term and new supply remains constrained. Key infrastructure work has been completed and reports submitted to the DFC, demonstrating progress across all critical areas required to support Orom-Cross startup. Ankündigung • Jul 02
Blencowe Resources plc Reports Successful Completion of Three Deep Drill Holes At the Northern Syncline Blencowe Resources Plc reported the successful completion of three deep drill holes at the Northern Syncline, following on from the recently reported success at the Beehive target. The Northern Syncline drilling complements earlier results from Beehive and reinforces the potential for a materially larger resource base at depth, supporting longer mine life and an expanded valuation in the Company's upcoming Definitive Feasibility Study (DFS). These deep holes at Beehive and Northern Syncline, which are 3kms apart, have for the first time both tested and confirmed the continuity of mineralisation to depths below 100 metres - more than three times deeper than the previous 30-metre production horizon. These results continue to highlight the Project's vast commercial opportunity and their completion marks the conclusion of the Stage 7 drilling programme at the Orom-Cross Graphite Project in Uganda. Reported resources and drilling to date has all been focused on tenement ML 1959, which already has a 21-year mining licence in place. Blencowe also controls several proximal additional tenements, covering a much larger area, which based on limited fieldwork also show evidence of similar graphite deposits and offers still greater potential for resource expansion. Highlights: Stage 7 drilling programme completed, totaling 6,750m across 221 resource holes, 8 geotechnical holes and 6 deep holes. All three Northern Syncline deep holes have delivered wide graphite intersections to vertical depths below 100 metres. All three deep holes ended in mineralisation, confirming the orebody remains open at depth. Significant number of assays pending from over 230 holes drilled. Results expected to drive consistent newsflow and underpin strategic discussions and DFS advancement. Independent geologists estimate Orom-Cross may host over 2 billion tonnes of graphite. Final sample processing and assay submissions are underway, with results from the 230+ holes drilled during Stage 7 anticipated to be released progressively as they are received. These results will directly support both the planned JORC Resource upgrade and ongoing DFS workstreams, with parallel inputs also advancing across offtakes, mine design, infrastructure, ESG, and permitting. A larger and deeper resource model - underpinned by consistent mineralisation at Beehive and now at Northern Syncline - will feed into strategic engagement with offtakers and funding partners. The next USD 0.75 million tranche from the US International Development Finance Corporation (DFC) grant is expected shortly, as Blencowe continues to receive strong support for a project of global significance in the energy transition supply chain. Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit. Blencowe completed a successful Pre-Feasibility Study on the Project in July 2022 and is now within the Definitive Feasibility Study phase as it drives towards first production. Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite) (Total Graphite Project). Ankündigung • Jun 26
Blencowe Resources plc Announces Deep Drilling At Beehive Blencowe Resources Plc reported that all three deep holes drilled at the Beehive deposit within its Orom-Cross Graphite Project have intersected significant continuous mineralisation to depths below 100 metres, more than three times deeper than the original 30-metre production horizon. Importantly, all three holes ended within mineralisation, confirming the orebody remains open at depth and reinforcing the Project's long-term scale and value potential. The holes, each angled to a vertical depth of 100 metres (120 metres total length), form part of the Stage 7 resource definition program designed to materially enhance both the upcoming JORC Resource upgrade and the ongoing Definitive Feasibility Study (DFS). Notably, the Beehive deposit - which sits outside the current 24.5Mt JORC Resource - is demonstrating significant depth and grade potential. These results are expected to underpin a material uplift in resource tonnage and overall project valuation. This deep drilling builds on an extensive drill programme comprising 221 resource holes, 8 geotechnical holes, and 6 deep holes, collectively forming the foundation for a robust and substantial JORC Resource update. A substantial number of assays are now pending. Consistent positive results from these will support an expanded Resource base, longer mine life, and ultimately a materially higher Net Present Value (NPV) for Orom-Cross. All three deep holes ended in mineralisation, confirming the ore body remains open at depth. Two rigs are now drilling three further deep holes at the Northern Syncline deposit, 3km to the north of Beehive. Over 230 holes drilled to date as part of the wider DFS programme, with assay results expected to provide steady newsflow. Infill drilling campaign completed, which unlocks the next USD 0.75 million DFC tranche of grant funding. Assays pending from substantial number of holes; results to feed into upgraded JORC, DFS, and funding strategy; Results will feed into the upgraded JORC Resource, DFS, and strategic engagement underway. Two rigs are now drilling 3 additional deeper holes at the Northern Synclines deposit, targeting similar vertical ~100 metre extensions as observed at Beehive. Final core logging and sample preparation from Beehive is nearing completion, with assays to be submitted shortly. The volume of assays pending from over 230 holes is expected to provide a steady stream of results and project de-risking milestones through the remainder of 2025. Following successful completion of the recent infill drilling campaign (as referenced in the Company's prior update), Blencowe expects to receive the next USD 0.75 Million tranche of the US International Development Finance Corporation (DFC) grant funding shortly. This payment reflects continued strong support for Orom-Cross from the US Government and underscores the importance of delivering a comprehensive, high quality DFS. Work across all DFS streams continues to advance in parallel, including geology, engineering, infrastructure, and ESG. The DFS is expected to play a pivotal role in unlocking value through strategic offtake partnerships and securing project-level funding - such as with DFC - and other parties already engaged in early-stage discussions that could see full-scale development financing aligned to the Definitive Feasibility Study's completion. Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive extensive drill programme. Ankündigung • Jun 13
Blencowe Resources plc Strengthens EU Battery Ties - Orom-Cross Graphite Outperforms in Testing Blencowe Resources Plc reported further progress on its role within the European Union's Gen3 battery initiative, Project SAFELOOP, for which the Company's Orom-Cross Graphite Project in Uganda has been selected as the exclusive supplier of natural flake graphite. SAFELOOP is a three-year programme funded by the EU's EUR 100 billion Project Horizon energy transition initiative, focused on developing a next generation lithium-ion battery that delivers improved safety, sustainability and high performance while strengthening Europe's control over its critical mineral supply chains. Blencowe was invited to participate in SAFELOOP as the exclusive supplier of all natural flake graphite due to the high quality of graphite at Orom-Cross. The strategic importance of Orom-Cross within SAFELOOP positions Blencowe to secure premium offtake demand directly into the EU from 2028 onwards - one of the few bulk quantity European sales routes that is available in the graphite sector. Key Highlights: Orom-Cross remains the exclusive natural flake graphite supplier to SAFELOOP. Graphite purified to 99.98 wt%C, meeting battery-grade standards. New EV anode developed with over 68% Orom-Cross natural flake graphite content (typically anodes have majority synthetic graphite). Pilot-scale testing completed through to anode and battery - results exceed expectations. COO presents Orom-Cross project to SAFELOOP and EU stakeholders in Denmark. New European offtake discussions underway with EU industrial partners as direct result of the SAFELOOP meeting. Testing of Orom-Cross Natural Flake for SAFELOOP American Energy Technologies Co. ("AETC") and other SAFELOOP project partners have continued their test work using the Company's natural flake graphite from the Orom-Cross project. AETC has been designing an enhanced EV anode predominantly using natural flake graphite instead of synthetic graphite, which may have notable consequences ahead on battery makeup and flake graphite demand. Technical Milestones Delivered (January-May 2025) Battery-Grade Purity Achieved: Orom-Cross graphite was purified to 99.98 wt%C using AETC's proprietary Inverted Flow Sheet process. This grade is considered premium quality within the industry and opens further opportunities for sales into defence applications and other niche markets. Natural Graphite-Dominant Anode Developed: AETC manufactured a next-generation electric vehicle anode with >68% natural flake graphite sourced solely from Orom-Cross-offering a greener, high-performance alternative to predominantly synthetic graphite within the anode. For reference, EV's typically employ synthetic graphite anodes; Blencowe's natural graphite, due to its qualities, is positioned to replace the synthetic and become an enabling technology which will see the natural graphite-dominant anode commercialized in the electric vehicle market. Ankündigung • May 23
Blencowe Resources plc Announces Receipt of the Latest Disbursement of $0.5 Million from the US International Development Finance Corporation Blencowe Resources Plc announced receipt of the latest disbursement of $0.5 million from the US International Development Finance Corporation ("DFC"), taking total funds received under the overall $5.0 million technical assistance grant to $4.0 million. This grant funding is non-dilutive and comes with no requirement to repay under any circumstances. A remaining $1.0 million is expected in two additional tranches - $0.75 million and $0.25 million upon completion of agreed Definitive Feasibility Study ("DFS") milestones. Thenext tranche is anticipated as coming in the near term. This resumption of payments followsa 90-day DFC worldwide pause,triggered by therecent US Government change and a case-by-case review of existing funding commitments. The recommencement of grant payments to Blencowereflects renewed DFC confidence in the Orom-Cross projectand underlying US Government support for its development. This isparticularly important as discussions continue on potential DFC cornerstone debt support for project implementation. Blencowe completed all of the above milestones in First Quarter 2025 marking further tangible progress in delivery of its Definitive Feasibility Study ("DFS"). Micronisation test work was completed with US graphite technical specialist AET in Chicago who successfully produced five distinct small flake product sizes, ranging from 5 - 45 microns. These micronised samples are now undergoing buyer testing, with price points estimated to be 2-10x higher than standard small flake concentrate. The Company views micronisation as a low-cost, high-value route to increase the overall weighted basket price and thus enhance project economics. Separately, the revised ESIA was approved in First Quarter 2025 by Ugandan authorities, reflecting the increased scale and enhanced sustainability features of the updated development. Site water access has also been fully de-risked through successful borehole drilling, with additional bores installed to support the local community as part of Blencowe's ongoing social development commitments. Ankündigung • Mar 31
Blencowe Resources plc Provides an Update on Its 6,750M Drilling Program At Its Orom-Cross Graphite Project in Uganda Blencowe Resources provided an update on its 6,750m drilling program at its Orom-Cross graphite project in Uganda. The campaign, which commenced in January is focussed on: Stage 1 - Gathering geotechnical information to support mine design; Stage 2 - Infill drilling on the existing two deposits aiming to convert significant volumes of existing Resources to Reserves; Stage 3 - Step-out exploration at two new exploration targets to expand the overall Resource base. Orom-Cross currently holds a JORC Resource of 24.5Mt @ 6.0% TGC, and the Company is targeting a substantial upgrade. Following the successful completion of Stage 1 (geotechnical drilling) in February, Blencowe reported that Stage 2 (infill drilling) is now also complete. Highlights: Infill drilling on both Northern Syncline and Camp Lode deposits - completed; Geotechnical drilling for pit slope parameters - completed; Access roads upgrade for all weather use - completed; Permanent exploration camp construction underway; Third rig mobilised to fast-track step-out drilling Drilling continues to progress on schedule with two rigs from Ugandan contractor ADT operating on site with a third soon to be mobilised to accelerate exploration at the Northern Syncline Western Limb and new GT-01 targets. 28 infill holes at the Northern Syncline deposit have been drilled, logged, and sampled, with 26 now ready for assay. A further 11 holes at the Camp Lode deposit are complete, with sampling and logging underway. Initial observations suggest consistent geology in line with existing resource models which supports the goal of significantly increasing the Orom-Cross Resources and Reserves classifications to underpin longer mine life and higher production volumes in the ongoing DFS. It is anticipated that work thus far will have a materially positive impact on DFS results. Blencowe has also completed 8 geotechnical holes for pit slope assessment, with samples now being tested in South Africa. All drilling on the in-fill resources upgrade is completed. The third rig will commence on additional resource extensions to the Northern Syncline (Western Limb) and the new southern GT-01 target, both of which are in Stage Three (new exploration) of the program. Meanwhile, the Company has commenced construction of a permanent on-site exploration camp, with prefabricated units imported from Turkey now being installed. This tangible step demonstrates visible project advancement to key stakeholders, including the Ugandan Government. Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe is completing the Definitive Feasibility Study phase shortly as it drives towards first production. Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & PGC Indicated & PGC. Ankündigung • Feb 22
Blencowe Resources Plc Announces Completion of Initial Hydropower Study for its Orom-Cross Graphite Project in Uganda Blencowe Resources Plc announced the completion of an initial hydropower study for its Orom-Cross Graphite Project in Uganda. The study confirms the availability of abundant, low-cost, and renewable hydropower from the Ugandan national grid, providing a strategic advantage for the Project's future mining and processing operations. This marks a major step towards Blencowe's commitment to sustainability and its ambition to deliver a net-zero graphite operation. Plentiful renewable energy: Two high-capacity power transmission spurs extend to the regional grid near to Orom-Cross, one from the Bujagali Hydroelectric Dam in Jinga and the other from the Isimba Hydroelectric Dam, both located on the Nile River. This ensures a reliable supply of renewable energy to Orom-Cross, including redundancy. Low Cost Advantage: Uganda's hydropower tariffs are significantly lower than regional African comparisons, positioning Orom-Cross as one of the lowest-cost graphite producers globally. Ample Capacity: Uganda currently has over 1,000 MW of installed hydropower capacity, with additional hydro-projects underway. Orom-Cross's power demand of 12MW (Phase 2) rising to 40MW at full production can be comfortably accommodated. Advancing towards Power Purchase Agreement (PPA): The Company is now working towards securing a long-term PPA with Uganda Electricity Transmission Company Limited (UETCL) to formalise the supply of low-cost hydroelectricity for the Project. Net-zero Potential: Access to 100% renewable energy for strengthens Blencowe's ability to achieve net-zero production, making Orom-Cross one of the most environmentally responsible graphite projects globally, a critical factor for funding providers and offtake partners in Europe and North America. Strategic Importance of Hydropower for Orom-Cross Reliable, green, and cost-effective energy is a major advantage as Blencowe moves towards first production in 2026. Orom-Cross will require 12MW for Phase 2 commercial scale production, scaling to 40MW at full ramp up, making power a critical cost factor. The study reinforces confidence that Orom-Cross can operate with one of the lowest carbon footprints in the graphite sector, aligning with global ESG and sustainability standards. Hydropower access strengthens Blencowe's appeal to OEMs, battery manufacturers, and critical mineral end-users seeking to secure sustainable supply chains. It also enhances discussions with potential offtake and funding partners, particularly in Europe and North America where securing non-China supply is a priority. As the Company advances its DFS and project financing discussions, securing sustainable energy further enhances Orom-Cross's appeal to global investors, end-users Blencowe remains focused on delivering a world-class graphite project with industry-leading sustainability credentials and looks forward to providing further updates as the PPA process advances. Ankündigung • Feb 14
Blencowe Resources plc Advances 7,000M Drilling Programme At Orom-Cross Blencowe Resources Plc provided an update on its 7,000 meter drilling programme, currently underway at the Orom-Cross graphite project in Uganda. Geotechnical Drilling Completed at Camp Lode: Four holes drilled (70m per hole), providing critical data for mine design and safety parameters. Additional Drill Rig Mobilised: A second rig have arrived, with a third scheduled this week to accelerate the drilling campaign. Site Inspection by DGSM and EU: Ugandan Mines Inspectors and an EU representative visited Orom-Cross, evaluating the project's progress and potential funding support. Blencowe has successfully completed all geotechnical holes at the Camp Lode deposit, a key requirements for finalising mining design parameters. Logging and sampling of three holes is also complete with all four holes confirming mineralisation over the majority of the length (70m per hole). The drilling programme is structured in three phases: 1. Geotechnical drilling (now completed). 2. Infill drilling at the two existing deposits to increment Reserves (Camp Lode deposit and Northern Syncline deposit). 3. Step-out drilling to consider a newly identified potential higher grade deposit to the south (to increase the overall Resource size). Blencowe aims to achieve a substantial increase to both JORC Resources and Reserves, positioning Orom-Cross for higher production levels as well as longer life of mine within the DFS. With several new potential offtake opportunities opening, including the possibility of large volumes of graphite concentrate to be sold into the EU's SAFELOOP initiative, Blencowe is seeking to aggressively add to both Resource and Reserves at Orom-Cross to scale production. It is believed that this will make a substantial difference to the DFS outcome. Ankündigung • Feb 03
Blencowe Resources Plc, Annual General Meeting, Feb 26, 2025 Blencowe Resources Plc, Annual General Meeting, Feb 26, 2025. Location: the offices of fim capital limited, 55 athol street, im1 1la, douglas Isle of Man New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Share price has been volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$100m (UK£11.1m market cap, or US$13.5m). Ankündigung • Jan 09
Blencowe Resources plc Commencement of Drill Programme to Increase and Upgrade Mineral Resource Inventory at Orom-Cross Graphite Project Blencowe Resources Plc announced that drilling has now commenced on the Phase 7 exploration programme at its Orom-Cross graphite project in Uganda. This 6,750 metre campaign will be the final drilling programme for the purposes of completing the DFS and establishing an updated JORC Resource to support the expanded mining operations at Orom-Cross. The Phase 7 programme will involve drilling over the identified Camp Lode and Northern Syncline deposits, where the Company has already established an existing JORC Resource of 24.5Mt @ 6%. The objective of this drilling is primarily to upgrade existing Indicated and Inferred resources to Measured, under the JORC guidelines. The Company will also target extensions to the Northern Syncline (Western Limb) as well as the exciting new prospective Southern GT-01 target. Whilst the current average grade of 6% at Orom-Cross is already in the top quartile globally of graphite projects, historical work undertaken by the Company has highlighted the potential for even higher grades in these areas. As a component of the programme several holes will be drilled to provide the necessary geotechnical information for the confirmation of pit design parameters and slope stability parameters for the project. Other works planned as part of this programme include trenching and mapping on additional areas outlined from aeromagnetics, designed to identify further areas for future resource expansion, noting the existing JORC Resource sits on just 2% (as drilled to date) of the broader Orom-Cross licence. The Company has also commissioned the establishment of a permanent exploration camp onsite, with portable units for accommodation and mess being erected onsite to support ongoing operations. These constitute the first fixed facilities on-site, representing a key milestone for Blencowe as it drives Orom-Cross towards first production. Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt at 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs. In Third Quarter 2024 Blencowe introduced a Joint Venture concept with experienced downstream graphite processing partners to ultimately produce upgraded 99.95% SPG (spheronised, purified graphite) in Uganda. This strategy has several key advantages including additional returns and substantial cost savings which will assist deliver a world class graphite project. New Risk • Dec 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (3.7% increase in shares outstanding). Market cap is less than US$100m (UK£8.15m market cap, or US$10.2m). New Risk • Dec 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.60m (US$9.56m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£7.60m market cap, or US$9.56m). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (3.7% increase in shares outstanding). Ankündigung • Nov 13
Blencowe Commences 6,700 Metre Drilling Programme At Orom-Cross Blencowe Resources Plc announce that it has commenced the 6,700 metre resource drilling programme, marking the final major workstream required for the completion of the Definitive Feasibility Study ("DFS") for the Orom-Cross graphite project in Uganda. With the funding received from the recent capital raise the Company has now triggered the drilling programme, seeking a significant expansion of the JORC Standard Resource and Reserves for Orom-Cross. The drill programme will target extensions to the existing Northern Syncline and Camp Lode deposits as well as upgrading the overall Resource classification. There will also be a step-out campaign to outline additional resources in a nearby target zone which, if successful, will add an exciting new high grade deposit into the Orom-Cross Resource. The additional Reserves will allow Blencowe to both increase the scale of production tonnage earlier in the mine life and to extend the life of mine, delivering a substantial impact on project economics and the final DFS results. Blencowe has commenced mobilisation and execution for its latest drilling campaign at the Orom-Cross project. Experienced drilling partner ADT Africa will once again undertake this programme, under the guidance of Minrom Consulting, Blencowe's geological and technical partner. The programme aims to expand both the JORC Standard Resource and Reserves, which currently stand at 24.5Mt at 6.0% TC (total carbon). Drilling will also support data required for geotechnical design confirmation for pit designs, as well as material strength characteristics for crushing and milling designs within the DFS. ADT Africa will now mobilise drill rigs and personnel to site shortly and commence drilling thereafter. The entire programme is scheduled to span approximately 2-3 months, with regular market updates to follow. A revised JORC Resource is anticipated after drilling and assays are completed. Additionally, Blencowe will establish the first permanent camp at Orom-Cross, in preparation for the construction phase, targeted for 2H 2025. Ankündigung • Nov 06
Blencowe Resources Plc has filed a Follow-on Equity Offering in the amount of £1.5 million. Blencowe Resources Plc has filed a Follow-on Equity Offering in the amount of £1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: £0.04
Security Features: Attached Warrants
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,500,000
Price\Range: £0.04
Security Features: Attached Warrants
Transaction Features: Reserved Share Offering Ankündigung • Oct 08
Blencowe Resources plc Announces Orom-Cross Graphite Project in Uganda Receives Full Mineral Services Partnership Accreditation Blencowe Resources PLC announced that its Orom-Cross graphite project in Uganda has received full Mineral Services Partnership ("MSP") accreditation. The MSP, a global initiative backed by 14 countries and the EU, promotes public and private investment in responsible critical minerals supply chains worldwide. Highlights: South Korea, as current MSP Chair, proposed Orom-Cross for full accreditation at the MSP Members Forum meeting in New York in September 2024. The proposal received unanimous approval, granting Orom-Cross immediate accreditation. Accreditation provides international exposure at the highest level, enhances the project's credibility with tier-1 offtakers, and enables access to potential new funding sources. This milestone further affirms the high quality of the Orom-Cross graphite projects, and its growing status as a leading new graphite project globally, as it moves towards first production. Following a series of successful meetings over the past few months between Blencowe and senior officials in Seoul, South Korea nominated Orom-Cross for MSP accreditation, which was unanimously approved at the most recent MSP Forum. South Korea, which assumed the MSP Chairmanship in June 2024, played a pivotal role in championing Orom-Cross and securing this achievement. The Mineral Services Partnership comprises the USA, Germany, India, Japan, South Korea, the UK, Australia and other leading nations as well as the European Commission, seeks to bolster critical mineral supply chains to support the clean energy transition. MSP accredited projects are assisted to deliver concrete results through collaboration between member nations and tangible support. Orom-Cross stands out as one of the world's largest estimated graphite deposits with a unique mix of several key competitive advantages that will enhance its chances of success, including lowest percentile operating costs, low capital startup requirements, and proven very high quality of end products, both as concentrates and purified battery ready 99.95% SPG (spheronised purified graphite). These qualities align with the MSP's goals of securing high quality, long-life graphite supplies outside of China, crucial to meeting accelerating demand for graphite in lithium-ion batteries. Orom-Cross has very strong ESG credentials too, which is another important factor in gaining MSP support. Blencowe's recently announced strategy to build an in-country downstream purification facility in Uganda to upgrade graphite concentrate to battery ready SPG, was also instrumental for MSP's support. This proposed in-country beneficiation facility would be one of very few delivering 99.95% purified graphite products outside of China. While the full scope of all the benefits this accreditation will bring is still being explored, it immediately elevates Orom-Cross status within all 14 MSP member countries and their networks. Blencowe will now work closely with MSP members, and specifically the Government of South Korea, to explore new funding avenues, offtake agreements, and additional opportunities to advance the project. Ankündigung • Sep 02
Blencowe Resources plc Announces Completion of the Last Internal Stage of the Graphite Pre-Qualification Test Program Blencowe Resources Plc announced the successful completion of the last internal stage of the graphite pre-qualification test program, being upgrading of substantial quantity of small flake concentrate into battery ready 99.95% uncoated SPG by leading SPG producer, Qingdao TaiDa Carbon. Definitive Feasibility Study Progress, Key DFS milestones now achieved, including: Metallurgical testing: Completion of 600 tonne commercial scale test work on Orom-Cross concentrate. SPG Production: Large volume of battery-ready uncoated SPG successfully produced by TaiDa and now sent for testing by potential tier one Asian customers. Water Borefield Completion: Essential water borefield at Orom-Cross now completed. Micronisation Testing: Successfully completed at AETC in Chicago producing all five key product ranges. ESIA Update: Updated Environmental and Social Impact Assessment submitted for local authority approval. ESG Update: Successful certification of Environmental and Social Governance, policies and procedures. SPG Product Samples Shipped - Final Step Toward Offtake Agreements Blencowe has processed fine flake concentrate into commercial scale volumes of high quality uncoated SPG (99.95% spheronised, purified graphite) via graphite industry leader TaiDa, and commenced delivery of samples to potential tier one customers in South Korea and Japan for their in-house testing. This is the final step for qualification of Orom-Cross material for commercial use by these potential customers and is the pathway toward securing future offtake agreements. Samples are also being supplied to major Chinese battery manufacturers. Senior management are currently visiting the testing firms along with various Asian OEMs to advance discussions towards offtake agreements. Additional Value-Added Testing Completed, Blencowe has successfully concluded further testing with leading US graphite expert American Energy Technologies in Chicago to further beneficiate fines concentrate into a range of high value specialised micronised products. These niche products, offering up to 10 times the value of basic fines concentrate, can add significant additional value to Orom-Cross ahead and are thus being integrated into the DFS plant design and overall production strategy. Samples will now be tested by potential offtakers as the next step towards sale agreements. Uganda Operations Update, Blencowe has submitted an updated ESIA to reflect the revised Orom-Cross operation plan, enhancing content of environmental and social commitments to align with guidelines from potential funding parties. A water borefield at Orom-Cross has also been completed, ensuring sustainable life-of-mine water supply for the project and local communities. The project also included refurbishing bores and establishing water supplies for the local school and clinic as part of Blencowe's social commitment. Blencowe has also successfully achieved ESG accreditation through well-known industry agency, Digbee ESG, for its current policies and planning on ESG. This certification is a major step towards satisfying both the investment community and industry expectations for sustainable and environmentally responsible operations at Orom-Cross. Significant progress continues within the DFS, including plant design, power supply studies, and infrastructure development. Ankündigung • Jul 22
Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £0.618639 million. Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £0.618639 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,372,780
Price\Range: £0.05
Transaction Features: Subsequent Direct Listing Ankündigung • Jul 15
Blencowe Resources Plc Announces Receipt of Fourth Tranche of Funding from the United States International Development Finance Corporation Blencowe Resources Plc announced the receipt of a fourth tranche of funding from the United States International Development Finance Corporation ("DFC"). This latest payment of USD 0.5 million will continue to support the ongoing Orom-Cross Definitive Feasibility Study ("DFS") costs and brings the total grant funding received to USD 3.5 million since the Technical Assistance Grant funding agreement was signed with the DFC in September 2023. Blencowe has successfully completed further key DFS milestones to unlock an additional USD 0.5 million grant funding from the DFC. This is part of the overall USD 5.0 million Technical Assistance Grant agreement that Blencowe completed with the DFC in September 2023. Orom-Cross remains one of the only pre-production resource projects worldwide to have received this US Government/DFC assistance. Blencowe continues to consider all means possible to value-add at Orom-Cross, using the Project's unique characteristics to appeal to graphite industry leaders. Orom-Cross is becoming well known in graphite markets as one of the lowest operating cost producers worldwide that can also be brought into production for a much lower capital cost than most of its peers. Furthermore, the high quality of its end products have attracted a host of interested parties for offtake discussions, and the Company is working through a rigorous final bulk sample testing process to become qualified to then lock down offtake contracts with tier one buyers. The DFC involvement in the Project provides Orom-Cross with top tier international funding party credibility, as well as actual cash towards the completion of the DFS. This unique collaboration is another key differentiating factor for the Company. Ankündigung • Jul 08
Blencowe Resources Plc Reports It Has Completed A Critical Step in Commercial Scale Testing, by Converting 600 Tonnes of in Situ Raw Material into 30 Tonnes of Graphite Concentrate Blencowe Resources Plc report it has completed a critical step in commercial scale testing, by converting 600 tonnes of in situ raw material into 30 tonnes of graphite concentrate. The 600 tonnes bulk sample conversion was undertaken by Jilin New Technology Graphite Co. ("Jilin"), a market leader in graphite processing, with results reconfirming the attractive qualities of Orom-Cross graphite. Highlights: Commercial Scale delivery of concentrate: 600 tonnes of raw material shipped to China several months ago has now been successfully upgraded to 30 tonnes of 96% concentrate. · Maintaining High Quality: testing indicates that the Orom-Cross concentrate delivered in this sample size maintains the same high quality as previous smaller scale tests. Bulk concentrate available: Blencowe now has substantial quantity of both large and small flake concentrate products to apply further testing for potential offtakers. · Final Stage testing on Small Flakes: Leading SPG producer Qindao Taida Carbon Co Ltd. ("Taida") to beneficiate 20 tonnes of small flake concentrate into 10 tonnes of 99.95% uncoated SPG (spheronised purified graphite) over the next one month as the final step in the qualification process. Ongoing Tier-One Discussions: The bulk sample testing and qualification process is going to plan, with the end goal ultimately being offtake agreements with several tier one partners. · Hurdle achieved for further DFC grant funds: The completion of this stage of the test work is one of the milestones for another tranche of DFC grant funding to be released shortly. Jilin, who successfully completed a 100 tonne bulk sample for Blencowe in 2023, has now completed a 600t bulk sample to concentrates. Approximately 30 tonnes of concentrate has been produced, which represents a substantial sample size for the Company to use for ongoing trials at various offtakers, for both large and small flake products. Test results indicate a very high quality 96% concentrate for small flake products and 96-97% concentrate for large flake products (+100mesh, +80mesh and +50mesh). The concentrate mix is 55/45 as small/large flakes. Jilin has already highlighted its support for the larger flake Orom-Cross concentrate product by signing an MOU for 15,000tpa, which was announced to the market in May 2024. Next Step: SPG Production: Work has now begun at one of the most experienced graphite beneficiation companies in the world, Qingdao Taida Carbon Co Ltd, to deliver 10 tonnes of high quality uncoated SPG product from the small flake concentrate. This has been successfully completed previously via smaller scale testing but this will be the first commercial scale delivery of SPG from Orom-Cross to provide necessary samples for high profile tier one offtakers to test in their own facilities. Once the OEM testing is completed by end of the June quarter Orom-Cross will effectively be qualified and have the ability to move to offtake agreements for all end products used in batteries. Taida has been producing uncoated SPG for over two decades and has one of the most advanced facilities in China, and is generally regarded as one of the leading experts in anode-ready graphite products worldwide. Having Taida expertise manage Orom-Cross concentrate through to SPG is a key advantage as this company has the skill and prowess to deliver the best end results. Blencowe is developing a broader graphite strategy to incorporate downstream processing in Uganda to deliver 99.95% SPG made in-country, and will be looking to include leading experts such as Taida within that strategy. This proposed facility would be the first commercial scale SPG operation outside of China and Blencowe would produce a valuable downstream product that other graphite mining peers cannot easily replicate. The Company will continue to provide updates as this strategy evolves. The process to complete all necessary metallurgical test work, including bulk sample testing, is a pre-requisite for all graphite miners that want to sell their end products into battery markets. End users are particularly discerning and will not consider offtake agreements until this work is adequately completed and qualification is therefore attained. Blencowe has been guided through this process by parties who have successfully completed this qualification previously, and using experts who understand the nuances of all the products, and how to get the best out of what Orom-Cross has to offer. The end target is offtake agreements for 100% of the products that Blencowe will mine and process from Orom-Cross, and to achieve the highest quality that builds strong tier one relationships and delivers the highest prices. The Company is moving swiftly towards qualification and with that the potential for offtake partnerships with some of the leading brand names in this business. Ankündigung • Apr 16
Blencowe Resources plc Announces Bulk Sample Processing Underway At Pilot Plant Facility in China Blencowe Resources Plc reported significant progress on the Definitive Feasibility Study ("DFS") works for the 100%-owned Orom-Cross graphite project in Uganda including commencement of the 600 tonne bulk sample test work at the Jilin Huiyang New Material Technology Company Ltd. ("Jiliin") facility in China. Highlights: Bulk Sample Processing - commencement of the 600-tonne commercial scale processing at Jilin in China marks a significant step forward for Orom-Cross DFS. Off-take Agreements Progress - senior management and potential offtake partners to meet during April 2024 to advance off-take discussions following strong interest in the large-scale test work, samples delivered to date, and Orom-Cross products across the board. Final Sample Delivery - both 96% concentrate and 99.95% spheronised purified graphite ("SPG") provided from this latest bulk sample testing are expected to be delivered in second quarter of 2024 to potential off-taker parties in sufficient quantity for review, leading to product qualification and ultimately contracts. Following the delivery of the 600 tonne bulk sample materials to China, processing has commenced at the Jilin facility. This same facility previously conducted successful bulk metallurgical test work for Blencowe on the 100-tonne Orom-Cross sample in 2023. Blencowe plans to utilise this product to generate large volumes of both 96% concentrate and 99.95% uncoated SPG product for final qualification with potential off-take partners. This process aims to maintain the same consistently high quality as previously delivered via this commercial-scale production process in 2023. Senior management will visit both China and South Korea over the next few weeks to continue discussions on offtake agreements. Strong interest has been shown to date and Blencowe is confident that this will continue with the ongoing large-scale test work. Ankündigung • Feb 06
Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £0.39235 million. Blencowe Resources Plc has completed a Follow-on Equity Offering in the amount of £0.39235 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,847,000
Price\Range: £0.05
Transaction Features: Subsequent Direct Listing New Risk • Feb 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.85m (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£1.5m free cash flow). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£7.85m market cap, or US$9.84m). Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Ankündigung • Jan 02
Blencowe Resources plc Provides Orom-Cross Graphite Project Update Blencowe Resources Plc provided an update on the progress of the Orom-Cross Definitive Feasibility Study ("DFS"), and some of the expected activities in the current quarter. Highlights: Further 600 tonne bulk sample completed for shipment to China for commercial scale testing and further OEM testing of processed 99.95% purified SPG product. Testing to be carried out in first quarter of 2024. Interest in Orom-Cross product has been high from various tier one battery off-takers. Strong support for Orom-Cross from Government of Uganda and specifically Ministry of Mines and Energy. Tenements and licenses in good standing, relations remain strong. Next milestone for further grant funding from the US Government Development Finance Corporation is close to completion and will be announced once funds have cleared. DFS work continuing with activities in four countries, including Uganda, China, US and Australia. Further environmental work continues in parallel to infrastructure studies. Downstream processing options which may provide transformational value opportunities continue to be explored. A further 600 tonnes of bulk sample graphite was mined at Orom-Cross in late 2023 in order to provide significantly more product for commercial scale testing in China, using the same graphite expert (Jilin) who had successfully completed the testing on the 100 tonne sample previously. This product will be shipped to China and testing will be done in first quarter of 2024 and the resultant concentrate will then be further processed to 99.95% purified product for OEM testing thereafter. This remains an important, non-dilutive, source of funding for project work. DFS work will continue with activities continuing in four countries, including Uganda., China, US and Australia. further environmental work is also underway and will continue in parallel to infrastructure studies in-country. Orom-Cross benefits from substantial key infrastructure already in place near to the project, including roads, communications and access to hydro-electric energy from the national grid. Further announcements in relation to DFS progress will follow as key deliverables are achieved. Test work on expandability of purified coarse flake product will also be finalised in first quarter of 2024 with a leading graphite technical expert in Chicago, USA. This will determine the quality and characteristics of purified coarse flake end products as opposed to purified smaller flake products which were successfully tested in late 2023. Orom-Cross project has a strong mix of both coarse (+195) and smaller flake (-195) products, all of which are in demand. New Risk • Dec 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£2.1m free cash flow). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Share price has been volatile over the past 3 months (9.1% average weekly change). Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Market cap is less than US$100m (UK£10.1m market cap, or US$12.8m). Ankündigung • Dec 11
Blencowe Resources plc Provides an Update of the Progress of Significant Works Currently Underway Across Four Continents as Part of the DFS for Its Orom-Cross Graphite Project in Northern Uganda Blencowe Resources Plc provided an update of the progress of significant works currently underway across four continents as part of the DFS for its Orom-Cross graphite project in Northern Uganda. Test work is currently nearing completion on a number of phases critical for the meeting of staged milestone payments from the DFC and also for additional discussions with potential off-take firms, specifically for the large flake product generated by the project. Blencowe has progressed the excavation and packaging of an additional 600 tonne bulk sample for processing at the Jilian New Technology pilot plant facility in China. This is over and above the initial 100 tonne bulk sample that was successfully processed by Jilian earlier in the year. This larger sample will be used to confirm consistency of end products delivered via commercial scale processing and it will also provide larger quantities of tailings for test work on environmentally friendly tailings disposal. In addition it will also provide larger scale bulk samples of concentrates for SPG testing. These will be used to confirm the downstream options for the project and provide larger samples of several tonnes to various tier one potential battery off-takers who have requested same for commercial quality testing. Tailings test work is nearing completion at IMO in Western Australia in line with the Company's philosophy to be one of the greenest graphite producers worldwide. Test work completed to date has shown that the Company can remove up to 80% of the sulphur in the tailings and achieve significant benefits with drying the tailings and removal of acid drainage and wet tailings disposal. With the substantial advantage of powering the entire mining operation via hydro-energy from the Ugandan national grid Blencowe wants to go even further in its quest for maximum sustainability, as top ESG credentials will be a major advantage ahead as well as a key differentiator to most other graphite projects that cannot match this. Expandability test work on the large flake from the Orom-Cross concentrate has again demonstrated the high quality and purity of the Orom-Cross graphite from all the laboratories which have indicated expansion volumes at the higher ends of industry average for moderate dosages of oxidant and acid wash. This coupled with the quality of the fines concentrate confirms overall highest quality and purity of the Orom-Cross end product in all graphite market segments. This will bode well for offtake contracts and sales volumes. Blencowe is now proceeding with additional metallurgical test work for other specialised market segments and to consider downstream processing as part of an enhanced value-add strategy for the project. Ankündigung • Oct 30
Blencowe Resources plc Announces Completion of Orom-Cross Graphite Project SPG Test Phase Blencowe Resources Plc announced that additional test work on its Orom-Cross graphite project in Northern Uganda has been completed by two leading graphite technical specialist laboratories in both China and United States. Wuhan University in conjunction with Qingdao Jinhui Graphite Co. Ltd. in China and American Energy Technologies Company (AETC) in Illinois are both industry experts in the field of upgrading graphite concentrate to uncoated battery-ready SPG product. This work is critical to understanding the commercial potential of the fines concentrate specifically for utilisation as anode materials in the lithium-ion batteries for EVs (electric vehicles) and wider rechargeable battery markets. The resultant testwork has delivered an uncoated SPG product with a 99.96% purity and outstanding size distribution and characteristics. The samples generated by Wuhan University have been forwarded to battery manufacturers for coating and initial battery testing. In parallel Blencowe also commissioned AETC to complete an assessment of the SPG potential of the SPG potential of The Orom-Cross product. This testing was completed at the AETC facilities in Chicago utilising their Thermal Conversion Process. The value-added downstream processing of concentrate from Orom-Cross has occurred in accordance with the inverted flow sheet practiced by AETC which is unique in the market. Blencowe chose AETC to undertake comparable testwork in part due to its capacity to deliver the uncoated, coated and battery testwork within a non-acid production process. Blencowe is now proceeding with additional metallurgical test work with additional samples of uncoated SPG and other flake sizes distributed to potential off-takers and battery manufacturers for upgrades to large flake as well as opportunities for utilisation of SPG wastes. Ankündigung • Sep 22
Blencowe Resources Plc Wins USD 5 Million Grant from Development Finance Corporation for Orom-Cross Graphite Project Blencowe Resources Plc announce it has signed a USD 5 million agreement with the DFC in order to provide substantial funding for the Orom Cross DFS programme, via a Technical Assistance Grant. The DFC is a proxy for the US Government which funds the organization and ultimately sets its vision, parameters and funding distribution. DFC Technical Assistance Grant (TAG): This is an innovative funding mechanism for the DFC to become involved at an early stage with key projects that they consider to be within their direct scope and strategy. As Orom-Cross contains an estimated 2-3 billion tonnes of graphite and is one of the largest, high quality deposits worldwide it has considerable long term appeal to the DFC. Graphite remains high on the US Government critical metals and minerals list, hence this relationship with Blencowe opens a potential supply chain for high value end-product over a very long life of mine. DFC has been working closely with Blencowe through this TAG process and both the Company and the Orom-Cross project have been subjected to all necessary due diligence in order to progress DFC interest into this monetised initial funding solution. Both parties see considerable long term value in their association with one another and Blencowe is confident this relationship will assist to provide a larger project funding solution ahead. One of the key terms within the TAG Agreement is for DFC to be mandated to provide financing for the full Orom-Cross project on commercial terms. Prospective new graphite producers need to think outside the box to find innovative funding solutions in order to deliver their projects and the DFC relationship provides this for Orom-Cross. Not only does the US$5 million grant cover a significant portion of the DFS costs, which materially reduces the dilutionary impact to Blencowe of funding the full DFS itself, but it also provides a highly motivated full mine implementation funding partner ahead. Furthermore, the credibility associated with partnering one of the leading tier one financial institutions worldwide will open a variety of other relationships ahead as key players in the graphite market (including end user OEMs) can see a new high quality graphite project emerging that now has a more certain pathway to production. Blencowe will immediately request the upfront payment of the initial 20% of the TAG (US$1 million), which together with the Company's existing funds provides the means to continue DFS work underway and deliver the next as-agreed milestone payment with DFC. Once this next milestone is achieved further DFC funds are unlocked and so on, until the full grant is utilised and ultimately the DFS is completed. One substantial advantage that now comes into play with the DFC relationship is that Blencowe is able to consider a larger-scale production strategy than it could do under the base-case scenario that the Company was considering whilst funding solo. The implications of this are enormous and the Company will provide a further update on this once the revised strategy is finalised. The expectation would be for a larger project from day one with a downstream processing facility built in-country to produce an uncoated battery-ready 99.95% SPG product. These factors above will ultimately deliver a considerably higher Net Present Value than the USD 482 million NPV achieved within the 2022 Pre-Feasibility Study. Ankündigung • Sep 05
Blencowe Resources plc Announces That Additional Metallurgical Test Work on Its Orom-Cross Graphite Project in Uganda Has Now Been Completed by Leading Graphite Technical Specialist Laboratory, Jilin New Technology ("Jilin") Based At Yanji in Northern China Blencowe Resources Plc announced that additional metallurgical test work on its Orom-Cross graphite project in Uganda has now been completed by leading graphite technical specialist laboratory, Jilin New Technology ("Jilin") based at Yanji in Northern China, following recent update on 14 August 2023. This metallurgical test work is critical to understanding the commercial scale process plant components, the quality of the end-product that Orom-Cross can deliver as a high-grade graphite concentrate as well as the flake sizing yield, and the operability of a process plant at Orom-Cross. The 100t bulk sample also provides significantly greater quantum of end product for end user testing which is critical for the Definitive Feasibility Study. Blencowe commissioned Jilin New Technology in partnership with Wuhan University to undertake metallurgical test work on a 100t bulk sample which covered material from both the Northern Syncline and Camp Lode areas within Orom-Cross. The pilot plant program was designed to deliver the following objectives: Confirm the commercial scale viability of processing the Orom-Cross ores. Confirm a 95-97% TGC (Total Graphite Content) pure concentrate is possible with low impurities (in particular thorium and vanadium). Confirm the laboratory testing models. Confirm the liberation process in order to maintain a majority of Jumbo/XL/Large flakes within the concentrate. Confirm the process flow diagram for the pilot plant design as part of the Definitive Feasibility Study. Deliver significant quantum of bulk concentrate to allow Blencowe to initiate discussions with potential off-take partners. The optimisation of the process (on the basis of the previous laboratory testing) has been very successful with the pilot plant methodology further improved and able to deliver a shorter overall processing of the ore, whilst improving the metrics of the concentrate delivered. A shorter processing cycle has the benefits of lower capital expenditure and lower operating costs, both of which will enhance the overall Orom-Cross project financials. The streamlined processing design has also realised increased recoveries of the more valuable larger +50mesh flake from 6.5% to 9.5% yield (within overall basket of end products), whilst increasing overall large flake yield by approximately 2% and increasing overall concentrate recoveries to over 94%. Again, this will add further value to the project financials. The additional metallurgical test work to date shows a robust flowsheet capable of repeatable metallurgy for a wide range of feed samples from Orom-Cross, which will now be used directly for reference in the actual concentrator engineering design for the Definitive Feasibility Study. Ankündigung • Jun 20
Blencowe Resources plc Announces Additional Metallurgical Test Work on its Orom-Cross Graphite Project in Northern Uganda Blencowe Resources Plc announced that additional metallurgical test work on its Orom-Cross graphite project in Northern Uganda has been completed by the leading Chinese graphite technical specialist laboratory, based at Wuhan University. This is recognised as one of the most experienced graphite facilities in the world and has been conducting similar tests to improve graphite processing methodology for over 30 years. This test work is also critical to understanding the quality of the end-product that Orom-Cross can deliver as a high-grade graphite concentrate, as well as what the process flow will look like to achieve this on a commercial scale. It also provides significantly greater quantum of end product for end user testing, which is critical within the Definitive Feasibility Study (‘DFS’). Metallurgical Test Work Objectives: Blencowe appointed Wuhan University in partnership with Jilin New Technology to undertake metallurgical test work on material gathered from its drilling campaigns, which covered both the Northern Syncline and Camp Lode areas within Orom-Cross. The program was designed to deliver the following objectives: Confirm a 95-97% TGC (Total Graphite Content) pure concentrate is achievable on the larger sample size with low impurities (in particular thorium and vanadium) as previously indicated. Confirm +90% 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 the pilot plant design as part of the DFS. Deliver bulk concentrate to allow Blencowe to initiate discussions with potential off-take partners. Metallurgical Test Work Results: Blencowe announced that all 5 objectives have been met or exceeded in this round of test work. Open cycle floatation test produced recoveries between 92-94% (previously 90%) and concentrate grades consistently range between 95-98% for all graphite mesh sizes. The additional metallurgical test work was commissioned to test the required pilot plant configuration and all metallurgical test-work undertaken to date shows a robust flowsheet capable of repeatable metallurgy for a wide range of feed samples from Orom-Cross. The proposed flowsheet was employed in a continuous pilot operation to determine the metallurgical response under typical operating conditions. The final concentrate graded 96.0% C(t) at 93.2% total carbon recovery which exceeded the company's expectations and places the end product recovered at the higher end of the spectrum in comparison to its peers. The pilot plant circuit optimisation undertaken to date has lifted the large flake recovery by 3% and also lifted the fines concentrate grade by some 2% TGC, whilst maintaining the grade in other flake sizes. This is important in terms of further downstream processing these fines to deliver a 99.9% SPG (spheronised, purified graphite) battery-ready product. The resultant test work was focused towards achieving the five key objectives as outlined above, as well as being geared towards optimising the flake size fractions and the finer mesh concentrate grade. 100t Bulk Update: These highly encouraging results will enable the Company to now proceed with further improvements and optimisation to the plant ahead of processing the previously announced 100t bulk sample, which has already been extracted and exported from Uganda to China. Blencowe will continue to refine the commercial plant design throughout the DFS to optimise the pilot process and the end product it will deliver. Ankündigung • Jan 13
Blencowe Resources Plc, Annual General Meeting, Feb 15, 2023 Blencowe Resources Plc, Annual General Meeting, Feb 15, 2023, at 10:00 Coordinated Universal Time. Location: 55 Athol Street, Douglas, Isle of Manat Douglas United Kingdom Ankündigung • Jan 12
Blencowe Resources Plc Announces Export Approval for Bulk Samples Blencowe Resources Plc announced it has received an approval from the Ugandan Ministry of Energy and Mineral Development to export materials from its Orom-Cross Graphite Project to Chinese testing facilities to enable final bulk metallurgical test work to be undertaken in 2023. Blencowe has mandated Jilin Huiyang New Material Technology Company Ltd. ("Jilin") to complete this test work in their existing pilot plant facility, which negates the requirement for the Company to build its own bulk testing facility on-site in the near term. Jilin has over 30 years direct experience in graphite processing and has completed similar bulk sample testing for other leading international graphite companies in the past. This is a key step in the process to pre-qualify Orom-Cross end-products as concentrates through to OEMs in order to ultimately achieve binding offtake contracts for production from the Project. As Ugandan Mining Law does not allow for the export of unprocessed raw materials this approval is a landmark decision by the Government, who fully understand the need and requirement for this testing to occur as a key action for the advancement of Orom-Cross towards first production. Blencowe acknowledges and appreciates the support of the Government of Uganda and the Ministry of Energy and Mineral Development in this matter. The export permits for 100t of bulk raw ore materials and 400 litres of local groundwater will enable the Company to export a representative bulk sample from the initial 5 years of production, which will be used to assess the metallurgical processes on a commercial scale including differing plant components to maximise the grade, recovery and flake sizing from the Project. The addition of the groundwater sample will enable the test facilities to assess the water characteristics in terms of the reagents required under proposed site operating conditions. Ankündigung • Jan 11
Blencowe Resources plc Receives Approval from the Ugandan Ministry of Energy and Mineral Development to Export Materials from Its Orom-Cross Graphite Project Blencowe Resources Plc announced it has received an approval from the Ugandan Ministry of Energy and Mineral Development to export materials from its Orom-Cross Graphite Project to Chinese testing facilities to enable final bulk metallurgical test work to be undertaken in 2023. Blencowe has mandated Jilin Huiyang New Material Technology Company Ltd. to complete this test work in their existing pilot plant facility, which negates the requirement for the Company to build its own bulk testing facility on-site in the near term. Jilin has over 30 years direct experience in graphite processing and has completed similar bulk sample testing for other leading international graphite companies in the past. This is a key step in the process to pre-qualify Orom-Cross end-products as concentrates through to OEMs in order to ultimately achieve binding offtake contracts for production from the Project. As Ugandan Mining Law does not allow for the export of unprocessed raw materials this approval is a landmark decision by the Government, who fully understand the need and requirement for this testing to occur as a key action for the advancement of Orom-Cross towards first production. Blencowe acknowledges and appreciates the support of the Government of Uganda and the Ministry of Energy and Mineral Development in this matter. The export permits for 100t of bulk raw ore materials and 400 litres of local groundwater will enable the Company to export a representative bulk sample from the initial 5 years of production, which will be used to assess the metallurgical processes on a commercial scale including differing plant components to maximise the grade, recovery and flake sizing from the Project. The addition of the groundwater sample will enable the test facilities to assess the water characteristics in terms of the reagents required under proposed site operating conditions. Works to excavate and transport the bulk samples will begin immediately and will be freighted by sea to China to have the testing completed as quickly as practically possible. In addition, 150kgs of the same samples will be air-freighted to same Jilin facility more quickly to undergo metallurgical testing and build knowledge before the larger samples arrive. Blencowe has already been able to share significant data with Jilin having previouslycompleted two stages of bench scale metallurgical testing with SGS in Canada and more recently a further round of testing via a small pilot plant in Perth, Australia. This next-level proposed test in China, using their existing infrastructure and experience, will be done on a considerably larger scale, which will give all parties more knowledge of the end concentrates that can be produced on a production scale from Orom-Cross. It is hoped that this program will initially lead to non-binding MOUs for offtake, and ultimately to binding sale agreements for a substantial portion of the initial 50,000tpa product to be produced from stage one within Orom-Cross. There may also be potential for EPC and funding contracts emanating from this relationship, potentially providing one solution to the CAPEX requirement for initial stage production. Ankündigung • Dec 07
Blencowe Resources plc Announces Metallurgical Test Work Update Blencowe Resources Plc announced that additional metallurgical test work on its Orom-Cross graphite project in Northern Uganda has been completed by leading technical specialist firm IMO based in Perth, Australia. This work is critical to understanding the quality of the end-product that Orom-Cross can deliver as a high-grade graphite concentrate, as well as what the process flow will look like to achieve this on a pre-commercial scale. It also provides significantly greater quantum of end product for end user testing which is critical for the Definitive Feasibility Study. The company appointed IMO to undertake metallurgical test work on material gathered from its drilling campaigns which covered both the Northern Syncline and Camp lode areas within Orom-Cross. The program was designed to deliver the following objectives: Confirm a 95% to 97% TGC (Total Graphite Content) pure concentrate is possible with low impurities (Thorium and Vanadium); Confirm 90% recovery is achievable for this concentrate; Confirm the liberation process in order to maintain a high percentage of Jumbo/XL/Large flakes within the concentrate; Confirm the process flow diagram for plant design as part of the Definitive Feasibility Study; Deliver bulk concentrate samples to allow Blencowe to initiate discussions with potential off-take partners. The company announced that all 5 objectives have been met or exceeded in this latest round of test work. Open cycle floatation testing produced recoveries between 90% to 92% and concentrate grades consistently range between 95% to 98% which are battery grade. The additional metallurgical test work was commissioned to test the upgradeability of the bench scale test work completed by SGS in Lakefield. A total of 1,400kg was processed (as compared to 100kg within SGS test work) and all metallurgical test-work undertaken to date shows a robust flowsheet capable of repeatable metallurgy for a wide range of feed samples from Orom-Cross. A total of eight rougher and cleaner flotation tests were carried out on the Master composite that culminated in the flowsheet that is atypical of similar graphite projects. The flowsheet consists of a flash and rougher flotation stage followed by a primary cleaning circuit with a polishing mill followed by three stages of cleaner flotation. The intermediate concentrate is classified and then further upgraded in secondary cleaning circuits with stirred media mills (SMM) followed by cleaner flotation. The proposed flowsheet was employed in a continuous pilot operation to determine the metallurgical response under typical operating conditions. The final concentrate graded 96.4% C(t) at 90.6% total carbon recovery which exceeded the company's expectations and places the end product recovered at the higher end of the spectrum in comparison to its peers. Test work was focussed on the 5 points above and not geared towards optimising the flake size fractions. As the resultant splits using an unoptimised circuit are within 5% of the fractions as determined by the original SGS bench scale works there may be further incremental value to be added by optimising ahead. The key takeaway from these results is that the scaling factors in the metallurgical testing will likely replicate the original test work and results through to commercial scale production. At the end of this larger scale metallurgical program, approximately 80kg of concentrate was produced (versus 5-8kgs from SGS in Canada) which will be forwarded to potential end-users and project partners for additional test work on screening splits and grade analysis, as well as suitability for further downstream processing of the concentrate. The design of the processing plant will be based on both the SGS and IMO test-work and best practice in similar operations. Importantly, the process requires no primary crushing or grinding of the ore, thus preserving the larger flake sizes, which is a material advantage over hard-rock graphite deposits. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Alex Passmore was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Ankündigung • Sep 27
Blencowe Resources Plc Commences the Definitive Feasibility Study for Its Orom-Cross Graphite Project Located in Uganda, East Africa Blencowe Resources Plc announced that it has commenced the Definitive Feasibility Study for its Orom-Cross graphite project located in Uganda, East Africa. This follows outstanding Pre-Feasibility Study results as presented to the market in July 2022, which have prompted the Company to move quickly on to this next stage of project development. The DFS is the last step in terms of major studies prior to the board making a decision to mine. Blencowe is currently in the final stages of a process to select an experienced independent engineering firm to manage and ultimately sign off on the DFS. The Company anticipates announcing the engineering partner in the near term. The Company is also assembling a strong management advisory team to assist with all key aspects of the study, including plant design, engineering, infrastructure, mining, operations, sales and marketing (offtake), environmental and social aspects, and all project funding. This team will comprise of resource executives who have considerable experience delivering projects through to production in Africa, as well as specific graphite experience. They will assist the existing Blencowe management team at all levels to deliver a successful DFS. Metallurgical test work already completed in both Canada and Australia indicates that Orom-Cross can produce several high-quality end products as a 96-97% LOI concentrate. Additional metallurgical test work is anticipated in 2023, as part of the DFS, to test the expandability, spheroidisation and spherical graphite purification (SPG) properties, as the ability to cost-effectively further upgrade Orom-Cross concentrates is expected to add significant additional value to the project. Ankündigung • Jul 19
Blencowe Resources Announces Results of the Pre-Feasibility Study Conducting at Its Orom-Cross Graphite Project in Uganda Blencowe Resources announced results of the Pre-Feasibility Study it has been conducting at its Orom-Cross Graphite Project in Uganda. These results highlight an exceptional long-life project that delivers considerable returns over an initial life of mine period of fourteen years. In addition, the PFS indicates an initial capital requirement that has been lowered by 23% since the Preliminary Economic Assessment ("PEA") announced in 2021. The PFS has been delivered in conjunction with leading graphite technical expert Battery Limits Pty Ltd. ("Battery Limits") who have managed several other leading graphite project feasibility studies worldwide. As a result of 50% of these end-products being larger flake size categories Orom-Cross has a substantial weighted average selling price for its basket of end-products, yet it also has one of the lowest total operating costs of any graphite project worldwide. This ensures considerable operating margins over life of mine, which in turn will deliver over US$1 billion free cash to Blencowe as return on investment. Ankündigung • Jun 06
Blencowe Resources plc Announces Final Metallurgical Test Work Results Blencowe Resources announced that recently completed studies on the metallurgical characterisation of Orom-Cross flake graphite concentrate provided very impressive results that will generate significant interest in the ASTM flake graphite grades planned for production from 2023 onwards. The Orom-Cross Graphite Project located in Uganda, Africa, has a unique ore body composition with specific element content that is unequal to other graphite projects. Key results from the lab work are: Uniform Mesh Size Distribution with ~50% as higher value +100 Mesh to +50 Mesh Fractions Sulphur Content < 0.1% across all Mesh Size Fractions. Tap Density > 0.73 g/cm3 - Suitable Precursor for Advanced Micronisation /SPG Processing. Halogen Content - Suitable to meet Advanced Foil Specifications & EBC Nuclear Grade Graphite Product requirements. pH Values Indicate Neutral - Alkaline; Suitable for Expandable Graphite to meet Fire Retardant Specifications. Low Levels of Fe, Ca, Na, and Mg Content; Ideal for Cathode or SPG Conductive additives for Battery & Electrochemistry Applications. Lower Cost to Purify to 99.95% LOI as a Result of lower specific elements; Fe, Si, Na, Ca, Mg. Over the coming months, additional post processing work for new potential applications for Orom-Cross Graphite Products will be completed. This work will support the progressive sales and marketing strategy focusing on both traditional and advanced graphite applications including both Primary and Secondary Battery Markets where is it expected the demand ahead for qualified graphite products will continue to expand and grow. Ankündigung • May 31
Blencowe Resources plc Commences of an Airborne Electro-Magnetic (Aem) Survey over Leases Associated with the Akelikongo Nickel Project in Uganda Blencowe Resources Plc announce the commencement of an Airborne Electro-Magnetic (AEM) survey over leases associated with the Akelikongo Nickel Project in Uganda. As part of the farm-in arrangements for this highly prospective asset, Blencowe has commissioned SkyTEM Surveys Aps to undertake High Definition AEM over several prospective areas on the leases. The program will consist of approximately 3,200-line kilometres of survey to be flown by helicopter on a 200m spacing. The survey will add significant additional information to assist the company in targeting both extensions to the existing defined mineralised lenses and better define targets identified by the Company in view of the previous work undertaken in the region. SkyTEM Surveys Aps has undertaken many similar projects in Africa and worldwide and this extensive experience is being leveraged by Blencowe to progress the project. The survey program is expected to run for 2 weeks. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Alex Passmore was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Ankündigung • Apr 11
Blencowe Resources Plc Upgrade At Orom-Cross Graphite Project Blencowe Resources Plc (Blencowe or the Company) announced that results for its revised JORC Standard Resource estimation for the Orom-Cross Graphite Project located in northern Uganda have substantially exceeded expectations. A comprehensive infill drilling programme (Phase 6) was completed in 2H 2021 and the results have significantly increased the previously reported Mineral Resource to a position where sufficient ore tonnes required for the first 15 years life of mine are now available within the Indicated and/or Measured category. The modelling has also confirmed the robustness of the two higher grade zones within the main Northern Syncline deposit which surround a zone of medium grade graphite. The Measured, Indicated and Inferred Resources commence from surface outcrop to depth of current drilling at 30m, and the ore body remains open below this which represents considerable future potential tonnes into the future. These results, which come from the weathered, close-to or at-surface zone of the deposit, highlight the quality of the Project's mineralisation and its ability to be a low-cost producer. The nature of the ore body will enhance the commercial outcome for the early years of operations at Orom-Cross by mining this higher-grade ore. Blencowe had initially targeted a Mineral Resource of 20Mt from Phase 6, with 10Mt in the Measured and/or Indicated categories, in order to provide the start-up ore for a 25Kt per annum operation with potential for expansion subsequent to commencement of production. The 24.5Mt overall, with 13.2Mt as Measured and/or Indicated Resources has outperformed this expectation. The Company is happy with the initial assessment of Resources located in an area specifically targeted as close to the potential plant site within an extensive mineral field. Furthermore, Blencowe is also looking at all options to deliver green graphite products via a Project that will utilise renewable energy and other sustainable components. This is seen as a very important objective within the Pre-Feasibility Study ("PFS") and the strategy moving beyond. All other areas within the PFS are going to plan, with work underway on all key areas including infrastructure, energy, roads, water, tailings, logistics, sales and marketing, plus plant and camp design. Completion is targeted for mid-2022. The Orom-Cross Graphite Project is located in the Kitgum District in north-eastern Uganda. Previous exploration activity identified and named at least five major graphite mineralised zones within the Project property which are underpinned by 21-year Mining Licence (ML) already awarded, namely: Northern Syncline o Camp-Lode o Central Anticline o Synformal Saddle o Southern Anomaly The Phase 6 Resource Delineation Programme (2021) targeted: Confirming and upgrading the resources in the Camp Lode to include within the JORC Resource. Upgrading the resource classifications in the Northern Syncline and; Completing the investigation of the near surface, free dig graphite mineralised material within a portion of the overall Northern Syncline Lode and the Camp-Lode mineralised zones. The Phase 6 drilling was based upon each mineralised zone being divided into four sub-zones based on the subsurface level of oxidation and weathering. Field observations, phase 5 drilling and the phase 6 drilling results confirmed the initial analysis suggesting a mean global weathering depth of 15m (with a range of 9m to 25m in some instances) and a transition zone approximately 6 to 10m in depth. The Graphitic Carbon grade population within the investigated mineralised zones indicates that thegraphitegrade for the deposit ranges from 0.01% to 24.1% GC with a mean grade of 5.6% GC and a mode of 6.0% GC. The JORC compliant resource estimate for these two graphite mineralised areas has been completed and is based on the drill hole spacing, grade variability and geological confidence. The resultant of the modelling and estimation process is the declaration of Mineral Resources as noted. Resource Estimates Blencowe undertook an additional drill program (Phase 6) in August 2021 which consisted of an additional 38 holes into the Northern Syncline for 1,140 metres and 36 additional holes into the Camp Lode for 1,080 metres. Geostatistical analysis of the data allowed for both the Camp Lode and Northern Syncline to be estimated and reported according to the JORC code. A Resource block model was constructed for both which was dependant on the data spacing and a final block size of 10m x 20m x 3m was selected with a rotated grid to match the orientation of the graphite mineralisation zones. An Ordinary Kriged estimation was performed and resulted in the reporting of Inferred, Indicated and Measured Resources for the Camp Lode and Northern Syncline. The Resources for the Northern Syncline have been tabulated at various cut-off grades starting at 3% GC through to 10% GC. The previous drilling at the Camp Lode was focussed on delineation of the lode and to check the presence, depth and general shape of the deposit. The majority of the Phase 5 drilling was in the central areas of the Camp Lode in a line which passed through a good patch of mineralisation but since it was the only information available at that stage it introduced a high bias on the mean grades in the reporting of the mineralisation. With the infill drilling Blencowe defined the high-grade zone and surrounds and in so doing applied better definition on both tonnes and grade and removed the high-grade zone basis. Highlights: Total Resource increased by 50% (8.1Mt) to 24.5Mt at 6.0% TGC · 24.5Mt at 6.0% TGC contains sufficient Measured and Indicated Resource for the first 15 years life of mine · 340% (9.4Mt) increase in Indicated and Measured Resources to 13.2Mt, giving a higher level of accuracy and confidence in the deposits to be mined · Grade remains consistent over the extended zones drilled at both deposits · High-grade zones evident within the Northern Syncline, including 3.4Mt @ 8.4% TGC · The Mineral Resource now circa three times larger than initial 8-10Mt targets for the Northern Syncline deposit. · Drilling at Camp Lode delivers consistent outstanding high grade graphite results in the oxide zone including: OREA-L1302, 11 metres at 9.73%TGC from 3 metres including 6 metres at 10.97% TGC. OREA-L1401, 5 metres at 10.30% TGC from surface. OREA-L1501, 14 metres at 11.81% TGC from 4 metres. OREA-L701, 19 metres at 9.78%TGC from 2 metres. OREA-L1201, 17 metres at 10.35% TGC from 2 metres including 7m @12.21% TGC. OREA-L401, 19 metres at 9.49% TGC from surface. 100% conversion of potential mineralisation from the weathered zones in the Camp Lode into JORC Standard Indicated Resource. Global Measured, Indicated and Inferred Resource for higher grade Camp Lode is 2.5Mt @ 7.4% TGC at a 3.5% TGC cut-off. Further 4.2Mt potential resource available at Camp Lode with additional drilling. Ankündigung • Mar 10
Blencowe Resources plc Provides Pfs Update for Orom-Cross Graphite Project in Uganda Blencowe Resources Plc provided an update on its ongoing Pre-Feasibility Study at its priority Orom-Cross graphite project. Orom-Cross is a substantial graphite deposit with an estimated 2-3 billion tonnes, of which the first 20 years life of mine has already been drilled out. However the deposit is so vast that this represents less than 1% of the estimated graphite within the tenements. Furthermore, the graphite is shallow and Blencowe will be mining to just 25 meters which means low cost mining from a free dig open cut operation. The Preliminary Economic Assessment for Orom-Cross (completed September 2021) provided the basis for a large scale 75,000tpa graphite operation, however Blencowe has indicated that it will scale this down in the early years to allow for a lower risk, lower capex start-up, around 25,000tpa of high grade concentrate. There will be provision for ramping this plant size and production rate up quickly over the first ten years to accommodate what is expected to be a surge in demand for flake graphite, predominantly for use within lithium-ion batteries for electric vehicles . The Company is working closely with its specialist technical partner Battery Limits to deliver a low cost mining operation that will put Orom-Cross in the lowest percentile of worldwide graphite producers, which not only provides more margin and earnings but also de-risks the operation significantly. Low capital costs to implement and low operating costs once in production are massive advantages to any mining operation. Currently Blencowe is awaiting the revised JORC Resource estimate for Orom-Cross, based on the extensive infill drilling programme from 2021, and its geological partner Minrom will provide this update shortly. This JORC Resource is expected to increment the 16Mt at 6.0% TGC that was announced to market in 2021 and provide additional tonnes that can be utilised for a much longer mine life than previously indicated in the PEA. In parallel work is being completed on Phase Three metallurgical test work to refine the end products that will be delivered as concentrate from Orom-Cross, and these results are also expected shortly. Phase Two met test work indicated a high quality array of end products that should be sought after in the market, and Phase Three is expected to underline this further by confirming the marketable characteristics of the different mesh size products and producing concentrates for consumer testing prior to pilot plant production . One of the key additions within the PFS (from the 2021 PEA) is the expectation that Blencowe will deliver a pilot plant by 2023 in order to product small quantities of these same end products to pre-qualify sales into end users. This is seen as a necessary and integral step in order to sell higher quantities of graphite concentrate from 2025 onwards when the main plant is expected to be commissioned. Furthermore, Blencowe is also looking at all options to deliver green graphite products via a project that leans heavily on renewable energy and other sustainable components. This is seen as a very important objective within the PFS and the strategy moving beyond. All other areas within the PFS are going to plan, with work underway on all key areas including infrastructure, energy, roads, water, tailings, logistics, sales and marketing, plus plant and camp design. Ankündigung • Feb 08
Blencowe Resources Plc Confirms Successful Infill Drilling on Northern Syncline Lode at Orom-Cross Graphite Project Blencowe Resources Plc announced exceptional high-grade drilling results which will help to strengthen the updated JORC Mineral Resource and Reserve Estimate update at its Orom-Cross graphite project in Uganda, scheduled for release by end February 2022. The results highlight the quality of the Project's mineralisation and ultimately its ability to be one of the lowest cost producers of graphite concentrate internationally. The drilling targeted mainly infill zones the weathered zone of the Northern Syncline deposit, and was planned so as to provide a basis for upgrades in Resource classification as well as extensions to existing high-grade oxide mineralisation. The spectacular near-surface intercepts confirm existing geological interpretations as well as grade continuity over the strike length of the Northern Syncline in a similar way to the recent Camp Lode results as recently announced. The Northern Syncline deposit has been subjected to a diamond drill hole program on a 25 metre by 12.5 metre grid. The drilling was specifically designed to provide sufficient information to enable the classification upgrade of resources at the Northern Syncline deposit into the Measured and Indicated categories and enable an updated JORC Resource Estimate on the Northern Syncline. All the holes to date have returned visible grade graphite over the majority of 30m of intersection, with weathering extending to within 5m of the base of the holes in most cases. This may present Blencowe with further high-grade ore for initial mining which could have significant advantages to both mining costs and product quality. Subsequent logging by the Company's geologists has identified zones of large to jumbo flakes in the core. The core has been assayed at SGS in Perth, Western Australia using the method C-IR18. The method is appropriate for understanding graphite deposits and is a total method. Blencowe Resources continues to review the sample assays and QA/QC checks are expected to be completed shortly enabling the company to proceed to finalising the revised and upgraded Mineral Resource Estimate. Ankündigung • Feb 01
Blencowe Resources Plc, Annual General Meeting, Feb 23, 2022 Blencowe Resources Plc, Annual General Meeting, Feb 23, 2022, at 10:00 Coordinated Universal Time. Location: 55 Athol Street, Douglas Isle Of Man United Kingdom Ankündigung • Jan 31
Blencowe Resources plc Provides Further Update to the Comprehensive JORC Resource Diamond Drilling Program Blencowe Resources Plc provide a further update to the comprehensive JORC Resource diamond drilling program that was completed in 2021 on its Orom-Cross Graphite Project in Northern Uganda. These results will form part of an updated JORC Standard Mineral Resource Estimate and Reserve Determination for the Orom-Cross project scheduled for late February 2022. These results will allow the Company to bring Camp Lode into the wider Orom-Cross JORC Resource and Reserve Estimate update scheduled to be released in February 2022. The results, which come from the weathered, close-to or at-surface zone of the Camp Lode deposit, highlight the quality of the project's mineralisation and ultimately its ability to be a low-cost producer. The drilling targeted both infill zones and strike extensions to existing high-grade oxide mineralisation. The spectacular near-surface intercepts confirm the geological interpretations as well as grade continuity over the strike length of the Camp Lode. The Camp Lode Deposit has been subjected to a diamond drill hole program on a 25 metre by 12.5 metre grid. The drilling was designed to provide sufficient information to enable the classification of Resources at the Camp Lode into the indicated category and enable a Resource Estimate on the Camp Lode to be reported and to qualify the initial production area for the deposit as a high-grade supplement to the main Northern Syncline deposit. Ankündigung • Jan 19
An unknown buyer acquired 10.9% stake in Blencowe Resources Plc (LSE:BRES) from Consolidated Africa Limited. An unknown buyer acquired 10.9% stake in Blencowe Resources Plc (LSE:BRES) from Consolidated Africa Limited on January 17, 2022.
An unknown buyer completed the acquisition of 10.9% stake in Blencowe Resources Plc (LSE:BRES) from Consolidated Africa Limited on January 17, 2022. Ankündigung • Jul 15
Blencowe Resources plc Announces Results of Metallurgical Test Work Blencowe Resources Plc, announced that metallurgical test work on its Orom-Cross graphite project in Northern Uganda has been successfully completed by SGS Lakefield, generally regarded as one of the leading technical consultants in the world on matters concerning graphite concentrates. This work is critical to understanding the quality of the end-product(s) that Orom-Cross can deliver to market as a high grade graphite concentrate, as well as what the process flow will look like to achieve this. The critical issues to determine quality of end product are (1) high TCG concentrate, with anything over 94% considered good and anything above 97% considered excellent, (2) low impurities, and (3) flakes sizes. As example +32 mesh Super Jumbo (97% TGC) will sell for over US$2,500/tonne in comparison to -100 mesh Small flakes (97% TGC) selling for circa USD 700/t. Blencowe appointed SGS Lakefield in Canada to undertake metallurgical testwork on material gathered from its 69 hole, 1950 metre 2020 diamond drilling programme, which covered both the Northern Syncline and Camp Lode areas. The metallurgical test program was designed to deliver the following Key Objectives:· To confirm if a 95-97% TGC (Total Graphite Content) pure concentrate is possible. Entry level concentrate is generally accepted as 94% TGC and each 1% above that attracts a significant premium on price in the market. · To confirm what impurities (specifically Thorium and Vanadium) may exist within the concentrate, and at what levels. To confirm ~80% recovery is achievable for this concentrate.· To confirm the liberation process in order to maintain as high a percentage of Jumbo/XL/Large flakes within the concentrate as these attract the ighest prices in the market. To confirm the process flow diagram for plant design as part of the forthcoming Feasibility Study.· To deliver bulk concentrate to allow Blencowe to initiate discussions with potential off-take partners. Blencowe announced that all 5 Key Objectives have been met and/or exceeded in this round of testwork, specifically: Concentrate grades consistently ranged at the top end of the spectrum, between 97-98% TGC. Low, or in most cases, no impurities were found within the concentrate. Open cycle and locked cycle floatation test produced excellent recoveries between 80-90%. Approximately 40% of the end product presents as jumbo/XL/large flakes and 60% as medium/smaller flakes. A simple, neat process flow indicates a standard processing facility that can easily be designed and later expanded to meet strong anticipated growth ahead in the demand for graphite. Ankündigung • Jul 07
Blencowe Resources Plc Announces Drill Program Ahead of Schedule Blencowe Resources Plc announced that the Stage Two drilling program that commenced in June is over halfway through, with full completion and demobilisation expected before end-July. To date 41 holes out of 74, for circa 1,200m of overall 2,000m diamond drilling, have been completed and the first batch of 554 samples has left site for to Mwanza in northern Tanzania where the regional JORC-accredited laboratory is located. Most of the current drilling program has taken place at the higher grade Camp Lode deposit, which required further drilling in order to bring it into the JORC Standard Resource. To date 29 holes of planned 36 are completed at Camp Lode and Blencowe Resources is happy to report that the continuity of both grade and geology is strong within the Camp Lode. This bodes well for a JORC Resource upgrade once all the drilling and assaying is completed. Blencowe Resources has also undertaken further drilling at the nearby Northern Syncline deposit where 12 of the planned 38 holes are completed. Grade and continuity are also maintaining and a resource upgrade will be likely there too. The Company designed this Stage Two in-fill drilling program primarily to upgrade a significant portion of the 16Mt Inferred Resource as announced previously into an Indicated or Measured category, which can then be used for mine planning and design within the Pre-Feasibility Study. Two further benefits will be to both add more tonnes into the overall JORC Resource and increase the overall grade of the JORC Resource by bringing in the Camp Lode deposit for the first time. Highlights: Stage Two drilling programme ahead of schedule, with over half of holes already completed. Strong continuity of both grade and geology within both the Camp Lode and Northern Syncline zones. Likely JORC Resource upgrade expected to define a +10Mt Total Graphite Content within Measured and Indicated Resource categories for inclusion within forthcoming PFS. Increased tonnage and grades expected from the high-grade Northern Syncline and Camp Lode zones. Results of metallurgical test work due shortly from SGS in Canada - key input to commercial project studies. Ankündigung • May 25
Blencowe Resources Plc Provides an Update to the Ongoing Metallurgical Test Work Program Currently Nearing Completion At SGS Lakefield in Canada Blencowe Resources Plc announced that metallurgical test work currently underway at graphite specialist SGS Lakefield (Toronto) is going according to plan and results to date confirm the exceptional nature of the end product quality. This is considered critical to the overall Project as a high quality end product provides the basis for more significant offtake interest as well as overall better pricing in the market. Test work to date previously completed during in stage one last year delivered a 94% TGC concentrate with modest recoveries, but in preliminary tests within stage two at SGS Lakefield have confirmed the potential to achieve a concentrate grade between 95-96% TGC with low impurities and high recoveries, from both the Northern Syncline and Camp lodes. Additionally, the higher grade and recoveries have not impacted the recovery of the large to jumbo flakes and a revised approach to the processing methodology has enabled these higher value larger flake sizes to be mostly preserved in the upgrading. The process to deliver this concentrate is similar to other graphite projects and the relatively simple design circuit lends additional credence to the proposed Blencowe approach of a modularised plant that is easily expandable. This would allow for a more modest start-up position to ensure lower risk via a lower capital requirement for initial production, but would allow for a quick ramp up process at any stage thereafter if market demand increases as forecast and requires higher production levels of graphite concentrate. Blencowe and SGS Lakefield will continue to build on these results to achieve the optimal outcomes as final stages of test work nears completion. Thereafter further test work will commence on the quality of a sphericalised product from the smaller fines. High quality sphericalised graphite is used within the anode for lithium-ion batteries and supply is forecast to be in a significant deficit to demand ahead as the electric vehicle expansion gathers pace over the next decade. Ankündigung • May 04
Blencowe Resources plc Commences Stage Two Drilling Program at Orom-Cross Graphite Project Blencowe Resources Plc announced the commencement of the Stage Two drilling program at Orom-Cross, designed to in-fill the recently announced JORC Resource and upgrade substantial tonnes into the Indicated and Measured categories. This additional program will progress Orom-Cross along its development path towards first production, and will be executed using the Company's in-country technical partners, ADT Drilling and Minrom Consulting. Additional resources will also be targeted in the current programme, with drilling also focusing on proven high grade areas, as yet not included in the maiden JORC Resource. The maiden JORC Resource delineated a 16.3Mt TGC resource at Orom-Cross, almost twice the size as the originally targeted. This next phase of development will bring the drill spacing closer together to ensure continuity of both product and grade, as required for mine planning within the PFS that will follow. The Stage One drilling program also located higher grade graphite in the Camp Lode, which was only partially explored. Stage Two will therefore also target parts of the Camp Lode to bring it into the overall JORC Resource for the first time, which is likely to have a material positive impact on both grade and tonnes. Ankündigung • Mar 09
Blencowe Resources plc, Annual General Meeting, Mar 31, 2021 Blencowe Resources plc, Annual General Meeting, Mar 31, 2021, at 09:00 Coordinated Universal Time. Location: 55 Athol Street, Douglas Isle Of Man United Kingdom Ankündigung • Mar 04
Blencowe Resources plc Announces Confirmation of Additional High-Grade Assay Results from its 2020 Diamond Drilling Program Blencowe Resources Plc announced confirmation of additional high-grade assay results from its 2020 diamond drilling program, which will help underpin a maiden JORC Mineral Resource Estimate at its Orom-Cross graphite project in Northern Uganda, scheduled for release this month. Highlights: Drilling at Main Syncline Lode delivers outstanding grade graphite results including: ORNS-L101, 15.1 metres at 8.4% TGC from 1 metre, including 1 metre at 12.7%TGC, ORNS-L106, 3 metres at 11.9% TGC from 3 metres, and 5 metres at 8.5%TGC from 11 metres, ORNS-L204, 7.8 metres at 6.7% TGC from 1 metre, including 1 metre at 11.2% TGC, ORNS-L205, 6.3 metres at 11.1%TGC from 1 metre, ORNS-L305, 9 metres at 7.5% TGC from surface, including 3 metres at 10.2% TGC, ORNS-L307, 9 metres at 8.8% TGC from surface, including 1 metre at 17.1% TGC, ORNS-L405, 19 metres at 8.3% TGC from 1 metre, including 4 metres at 10.5% TGC, ORNS-L603, 7 metres at 11.5% TGC from 2 metres, including 3 metres at 14.2% TGC These results will underpin a maiden JORC (2012) Standard Mineral Resource Estimate and Reserve Determination scheduled for release this month. These results, which come from the weathered, close-to or at-surface zone of the Eastern Syncline Lode deposit, highlight the quality of the Project's mineralisation. Furthermore, substantial graphite at shallow depths underlines Orom-Cross's ability to be a low-cost producer. As with the previously announced Camp Lode, the drilling at the Eastern Syncline Lode targeted infill zones between the Phase 2 drilling program and trenching and strike extensions to existing oxide mineralization. Ankündigung • Feb 08
Blencowe Resources plc Announces Exceptional High-Grade Drilling Results from the Camp Lode Deposit Blencowe Resources Plc announced exceptional high-grade drilling results from the Camp Lode deposit, which will now be incorporated in the broader maiden JORC Mineral Resource and Reserve Estimate at its 100% owned Orom-Cross graphite project in Uganda. Highlights (TGC - total graphite content): Drilling at Camp Lode has delivered outstanding high grade graphite results including: OREA-L102, 25 metres at 9.7% TGC from 5 metres including 4 metres at 12.7% TGC, OREA-L202A, 6 metres at 12.2% TGC from surface including 2 metres at 20.9% TGC, OREA-L202A, 5 metres at 12.7% TGC from 7 metres including 2 metres at 16.2% TGC, OREA-L202A, 13 metres at 9.3% TGC from 17 metres, OREA-L203, 18 metres at 6.2% TGC from 2 metres, OREA-L303, 19 metres at 8.4% TGC from 11 metres including 5 metres at 13% TGC, OREA-L304, 5 metres at 11.9% TGC from 4 metres including 2 metres at 18.6% TGC. The expectation is for the average grade at Camp Lode to be approximately double the already high average Orom-Cross grade. These excellent drill results will underpin a maiden JORC Standard Mineral Resource Estimate and Reserve Determination scheduled for release in March 2021. The results, which come from the weathered, close-to or at-surface zone of the Camp Lode deposit, highlight the quality of the project's mineralisation and ultimately its ability to be a low-cost producer. The drilling targeted both infill zones and strike extensions to existing high-grade oxide mineralization. These spectacular near-surface intercepts confirm the geological interpretations as well as grade continuity. The Camp Lode Deposit has been subjected to a diamond drill hole program on a 50 metre by 12.5 metre grid. The drilling was designed to qualify the initial production area for the deposit as a high-grade supplement to the main deposit. Blencowe Resources continues to receive the sample assays for the additional 53 diamond drill hole program undertaken on the Eastern Syncline Lode and QA/QC checks are expected to be completed shortly enabling the company to proceed to finalising the Mineral Resource Estimate. The holes to date have returned visible grade graphite over the majority of 30m of intersection, with weathering extending to within 5m of the base of the holes in most cases. Based on the received samples to date the expectation is for grades of up to double the 7-8% average Orom-Cross grade. Ankündigung • Nov 26
Blencowe Resources plc Provides Update on Progress of the Orom-Cross Graphite Project JORC Resource Program Blencowe Resources plc announced to provide an update on progress of the Orom-Cross Graphite Project JORC Resource program. Maiden Resource to be reported in early First Quarter 2021. Leading graphite specialists SGS Lakefield undertaking phase two metallurgical work on track to deliver results in First Quarter 2021. Metallurgical work to define the end product concentrate and allow more detailed discussions with potential off-takers and industrial customers. Following completion of the 69 hole (1,950m) diamond drill programme into the Eastern Limb Lode and the High-Grade Camp Lode in September, logging of core was completed in October and sample preparation have now been completed at a JORC-accredited lab in Tanzania. The Company intends to deliver a maiden JORC Resource for Orom-Cross in early First Quarter of 2021. Preparation of 1,900 samples has been completed at SGS in Tanzania for both grade assaying and metallurgical testing. Samples have now been dispatched from Tanzania to SGS laboratories in South Africa for assaying of the relevant elements as well as moisture and Specific Gravity determinations. Once completed this data will be submitted to Minrom Geological Consultants to complete the JORC Resource modelling. The Board anticipate that the maiden JORC Resource will only represent a small percentage of the overall Orom Cross deposit and give sufficient confidence for a minimum of 10 years mine life on which to deliver a feasibility study. Blencowe intends to incorporate these results to present a Feasibility Study in 2021, which will deliver first commercial outcomes for the project and map out first production. In parallel to this work, separate samples are being dispatched to SGS Lakefield in Canada for Phase Two metallurgical testing, using the services of one the leading graphite specialists worldwide. SGS Lakefield have delivered met test work on a significant number of major graphite projects in the past and their expertise will be critical ahead. Their work will identify the end product concentrate at Orom-Cross and provide Blencowe with the process flow models and initial plant and processing stream(s) to deliver final product. Ankündigung • Sep 22
Blencowe Announces Core Samples from Its Recently Completed 69-Hole Diamond Drill Program at the Orom-Cross Graphite Project in Uganda, Have Been Dispatched to an Accredited SGS Laboratory in Tanzania Blencowe announced 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 fourth quarter in 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 first quarter of 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. Ankündigung • Jul 30
Blencowe Resources plc (LSE:BRES) completed the acquisition of Consolidated African Resources (Uganda) Ltd. from Consolidated Africa limited. Blencowe Resources plc (LSE:BRES) entered into a heads of agreement to acquire Consolidated African Resources (Uganda) Ltd. from Consolidated Africa limited for AUD 2.1 million on May 13, 2019. Blencowe signed a share purchase agreement to acquire Consolidated African Resources (Uganda) Ltd. on October 28, 2019. Blencowe will, subject to a successful placing, acquire the entire share capital to be satisfied in full by the issue of 33.3 million new ordinary shares of Blencowe of which 8.3 million shares will be payable to New Energy as consideration for the assignment of the option, which was granted to it by Consolidated Africa Limited and 25 millions shares payable to Consolidated Africa Limited as the acquisition price. In addition, there is cash consideration payable to Consolidated Africa Limited of AUD 50,000 which will be payable whether completion occurs or not. Consolidated Africa Limited has also granted the Blencowe an option to acquire additional licences that it holds in Uganda which may be exercised at any time in the 12-month period following completion of the Transaction. For the year ended December 31, 2018, Consolidated African Resources (Uganda) Ltd. had loss before tax of $8815 (AUD 0.01 million), Loss after tax and total comprehensive loss for the year is $8815 (AUD 0.01 million), total assets of $0.21 million (AUD 0.3 million), total equity of $0.13 million (AUD 0.19 million).
Completion of the Transaction will be conditional on due diligence, completion of the acquisition documentation, Blencowe raising working capital for the enlarged group to further develop the Orom Graphite Project by way of a placing of new ordinary shares in Blencowe. The transaction remains subject to completion of the fundraising and re-listing of the enlarged group on the London Stock Exchange and to the approval of Consolidated Africa Limited entering into the Transaction by the National Stock Exchange of Australia. Accordingly, there is no certainty that it will be completed. It will be subject to approval by shareholders of Blencowe at a general meeting. Consolidated Africa Limited and New Energy Minerals Africa Pty Ltd have given their binding consent to the acquisition. If the transaction is completed, it will constitute a reverse takeover under the Listing Rules.
The deal has been approved by shareholders of Blencowe. Application will be made for the Company's entire issued share capital to be admitted to the Official List, by way of a Standard Listing, and to trading on the London Stock Exchange's main market for listed securities and it is anticipated that dealings will commence on April 28, 2020. Jonathan Evans of Brandon Hill Capital Limited acted as financial advisor and Share Registrars Limited acted as registrar for Blencowe.
Blencowe Resources plc (LSE:BRES) completed the acquisition of Consolidated African Resources (Uganda) Ltd. from Consolidated Africa limited on April 23, 2020. 