28 May 2024
BLENCOWE RESOURCES PLC
("Blencowe" or the "Company")
Video Interviews with Blencowe Management
Blencowe Resources (BRES:LON), is pleased to share two recent interviews with CEO Mike Ralston on the Focus Communications IR and Mining News platforms:
Interview with Focus IR:
"Mike Ralston, CEO of Blencowe, outlines plans to become one of the world's largest graphite producers"
https://www.youtube.com/watch?v=JnnCkdCPfT0
Interview with Mining News:
"Blencowe building on mining-to-battery plan at the Orom-Cross graphite project"
Executive Chairman Cameron Pearce commented:
"Blencowe recently recorded video interviews on the media platforms linked above to provide investors with further detail following a successful management trip to Asia. In China we visited Jilin Huiyang New Material Technology Company which is currently undertaking processing of a 600 tonne bulk sample of small flake graphite from Orom-Cross. This effort aims to produce commercial scale processed samples for a range of tier-1 offtakers in both China and South Korea, who have shown significant interest in high-quality processed product from Orom-Cross, especially smaller sized flakes suitable for SPG processing for the battery industry, including Electric Vehicles. Investors should note that prequalification of product with industry buyers is a crucial step for any serious graphite miner, and Blencowe is well advanced on this route.
In addition to the small flake graphite, we have received positive feedback on large flake graphite samples from Orom-Cross from other potential offtake parties, with larger flake graphite typically commanding premium prices.
During our trip, we also met with various EPC groups and Chinese strategics to advance our in-country downstream SPG processing strategy. We believe that adding local Ugandan downstream SPG processing facilities will enable us to capture more of the downstream value chain and significantly enhance Orom-Cross's already compelling economics. This will also substantially differentiate Blencowe from its graphite peers. So far, test work in China has been progressing positively, as have discussions regarding potential offtake MOUs and strategic partnerships for downstream SPG processing.
We anticipate further updating the market on the progress of our test work and the interest from potential offtakers in the coming weeks."
For further information please contact:
| Blencowe Resources Plc Sam Quinn (London Director) | +44 (0)1624 681 250 |
| Investor Enquiries Sasha Sethi | Tel: +44 (0) 7891 677 441 sasha@flowcomms.com |
| Tavira Financial Jonathan Evans | Tel: +44 (0)20 7100 5100 jonathan.evans@tavira.group |
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/blencowe-resources/
Background
Orom-Cross Graphite Project
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 Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead. Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs. With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.
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