REG - Blencowe Resources - CEO Video Interview

Blencowe ResourcesAnnouncement

28/05/2024 09:00

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RNS Number : 0868Q  Blencowe Resources PLC  28 May 2024

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
(https://www.youtube.com/watch?v=JnnCkdCPfT0)

Interview with Mining News:

"Blencowe building on mining-to-battery plan at the Orom-Cross graphite
project"

https://www.miningnews.net/resourcestocks/resourcestocks/4213348/blencowe-building-mining-battery-plan-graphite-project
(https://www.miningnews.net/resourcestocks/resourcestocks/4213348/blencowe-building-mining-battery-plan-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          www.blencoweresourcesplc.com (http://www.blencoweresourcesplc.com/)

 Sam Quinn (London Director)     info@blencoweresourcesplc.com (mailto:info@blencoweresourcesplc.com)

                                 +44 (0)1624 681 250
 Investor Enquiries              Tel: +44 (0) 7891 677 441

 Sasha Sethi                     sasha@flowcomms.com
 Tavira Financial                Tel: +44 (0)20 7100 5100

 Jonathan Evans                  jonathan.evans@tavira.group

 

Twitter https://twitter.com/BlencoweRes
(https://twitter.com/BlencoweRes?s=20)

LinkedIn https://www.linkedin.com/company/blencowe-resources/
(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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