Extension of Warrant Expiry Date
18 Apr 2023
Blencowe Resources Plc
(“Blencowe” or the “Company“)
The Company has granted the board of directors an extension of 3 months for the expiry of certain warrants granted on 27 June 2018 and due to expire on 18 April 2023. The warrants will now expire on 18 July 2023 with the same exercise price of 4p as originally granted. The extension is given on the basis that the directors cannot currently exercise these warrants due to being in a closed period.
A further 2,250,002 4p warrants, which were granted to investors on 27 June 2018, have now expired and been cancelled.
Director | Amount | Price |
Cameron Pearce | 2,500,000 | 4p |
Sam Quinn | 1,750,000 | 4p |
Michael Ralston & Sharon Ralston ATF the Ralston Family Trust | 1,000,000 | 4p |
Alexander Passmore | 750,000 | 4p |
For further information, please contact:
Blencowe Resources Sam Quinn | Tel: +44 (0) 1624 681 250 |
Investor Enquiries Sasha Sethi | Tel: +44 (0) 7891 677 441 |
Tavira Securities Limited Jonathan Evans | Tel: +44 (0)20 7100 5100 |
First Equity Limited Jason Robertson | Tel: +44(0)20 7330 1833 |
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/blencowe-resources/
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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 and Blencowe completed a successful Pre-Feasibility Study in 2022. The Company has now moved into the Definitive Feasibility Study phase as it drives 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 @ 6.0% Total Graphite Content, with only a small percentage of the overall deposit drilled to date. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.