Result of AGM
26.02.2024.
Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce that at the Company’s Annual General Meeting held 23rd February 2024, all resolutions were duly passed.
Ends
For further information, please visit https://blencoweresourcesplc.com or the following:
Blencowe Resources Plc Sam Quinn (London Director) | +44 (0)1624 681 250 |
Investor Enquiries Sasha Sethi | Tel: +44 (0) 7891 677 441 |
Tavira Financial Jonathan Evans | Tel: +44 (0)20 7100 5100 |
First Equity Limited Jason Robertson | Tel: +44 (0)20 7330 1883 |
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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. 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.