Interview with CEO Mike Ralston
21 May 2025
Blencowe Resources (LSE: BRES) is pleased to share a video interview with CEO Mike Ralston, hosted by SmallCapPix, providing a strategic and operational overview across the Company’s flagship Orom-Cross graphite project in Uganda.
In this interview, Mr. Ralston discusses:
- The recent £1 million fundraise and rationale for securing additional working capital at a critical stage;
- Re-engagement with the US International Development Finance Corporation (DFC) and resumption of grant funding;
- Definitive Feasibility Study (DFS) progress, including offtake agreements, financing pathways, and downstream strategy;
- Ongoing drilling success, including promising new results at the new Beehive target and continued strong core from the Northern Syncline (Western Limb);
- Outlook for first stage production and strategic funding initiatives under evaluation.
Watch the full interview here: https://www.youtube.com/embed/9VhKVtYSX2U?si=y5xHvvhP2FgsFJ_m
For further information please contact:
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
Investor Relations Sasha Sethi | Tel: +44 (0) 7891 677 441
|
Tavira Financial – Financial Adviser & Broker Jonathan Evans | Tel: +44 (0)20 3192 1733
|
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
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.
In 3Q 2024 Blencowe introduced a Joint Venture concept with experienced downstream graphite processing partners to ultimately produce upgraded 99.95% SPG in Uganda. This strategy has several key advantages plus substantial cost savings which will assist deliver a world class project once DFS is completed.
