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Blencowe Resources #BRES – Invitation to Webinar

Blencowe Resources is pleased to invite investors to an investor webinar, hosted by Shares Magazine where CEO Mike Ralston will present Blencowe’s  plans to develop our potentially world-class Orom-Cross Graphite Project followed by an audience Q&A on Wednesday, Jul 21, 17:30 PM BST.

The webinar is open to all existing shareholders or potential investors.

To participate in this webinar, please register using the link:
 https://register.gotowebinar.com/register/8965032300449864207

The webinar will not require your participation in the form of audio or video, however, you will have the opportunity to ask questions via an online chat window during the webinar.

Whilst a Stage 2 drilling programme with the objective of further upgrading the higher-grade Resource at Orom-Cross is currently underway, next steps are in-flight to begin moving through development studies into pre-Feasibility and ultimately full Feasibility study in order to fully assess the project economics for Orom-Cross.

Following successful metallurgical testwork where graphite concentrate grades consistently ranged between 97-98% TGC, Blencowe is now better positioned to advance discussions with strategic groups in the knowledge it can deliver a range of high grade end products.

 

Please find below a link to our latest presentation:

https://blencoweresourcesplc.com/wp-content/uploads/sites/23/2021/05/Blencowe-Presentation-May-2021.pdf

ENDS

For further information please contact:

Blencowe Resources Plc

Sam Quinn (London Director)

www.blencoweresourcesplc.com

+44 (0)1624 681 250

info@blencoweresourcesplc.com

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Blencowe Resources #BRES – Placing to Raise £235,000

Blencowe Resources, the natural resources company focussed on the development of the Orom-Cross Graphite Project in Uganda, is pleased to announce that it has raised £235,000 in a placing at 6 pence per share through the issue of 3,925,000 new ordinary shares (“Placing”). Also, the placees will receive one warrant per every two placing share to Each Placing shares will to subscribe for shares at 8 pence per share for a period of three years (“Warrant”).

The fundraise will be used to advance the development of the Orom-Cross Project and the Pre-Feasibility Study which is due to commence following confirmation of the updated JORC Resource in late Q3 2021.

The Company has made an application for 3,925,000 ordinary shares to be admitted to trading on the official list and the London Stock Exchange with effect from 8.00 a.m. on 20 July 2021 (“Admission”).

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 121,929,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.

Cameron Pearce Executive Chairman commented:

“Following the announcement of our recent Metallurgical Test Work we are keen to keep progressing the Orom-Cross Graphite project at a rapid pace and have taken this opportunity to raise some additional capital to fund ongoing operations. We look forward to updating the market on further developments over the coming weeks and months.”

For further information please contact:

 

 

Blencowe Resources Plc

Sam Quinn

 

 

 

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

 

  Investor Enquiries

Sasha Sethi

 

Tel: +44 (0) 7891 677 441

Email: sasha@flowcomms.com

 

Brandon Hill Capital Limited

Jonathan Evans

 

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 

First Equity Limited

Jason Robertson

 

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Blencowe Resources #BRES – Results of Metallurgical Test Work

Results of Metallurgical Test Work by SGS Lakefield

98% TGC Underlines Exceptional Qualities of End Products

Highlights:

  • Concentrate grades consistently ranged at the top end of the spectrum, between 97-98% TGC (versus an internal target of 94% TGC)
  • Low impurities
  • Approximately 40% of the end product presents as jumbo/XL/large flakes and 60% as medium/smaller flakes
  • the process requires no primary crushing or grinding of the ore which offers a material advantage over hard-rock graphite deposits, both in terms of lower capital expenditure and lower operating costs
  • offtake discussions can be advanced rapidly with latest test work

Blencowe Resources Plc, is pleased to announce that metallurgical test work on its Orom-Cross graphite project in Northern Uganda has been successfully completed by SGS Lakefield, generally regarded as one of the leading technical consultants in the world on matters concerning graphite concentrates.  This work is critical to understanding the quality of the end-product(s) that Orom-Cross can deliver to market as a high grade graphite concentrate, as well as what the process flow will look like to achieve this.

 

Scope of Metallurgical Testwork

The critical issues to determine quality of end product are (1) high TCG concentrate, with anything over 94% considered good and anything above 97% considered excellent, (2) low impurities, and (3) flakes sizes.  As example +32 mesh Super Jumbo (97% TGC) will sell for over US$2,500/tonne in comparison to -100 mesh Small flakes (97% TGC) selling for circa US$700/t.

Blencowe appointed SGS Lakefield in Canada to undertake metallurgical testwork on material gathered from its 69 hole, 1950 metre 2020 diamond drilling programme, which covered both the Northern Syncline and Camp Lode areas.

The metallurgical test program was designed to deliver the following Key Objectives:

  • To confirm if a 95-97% TGC (Total Graphite Content) pure concentrate is possible.  Entry level concentrate is generally accepted as 94% TGC and each 1% above that attracts a significant premium on price in the market.
  • To confirm what impurities (specifically Thorium and Vanadium) may exist within the concentrate, and at what levels.
  • To confirm ~80% recovery is achievable for this concentrate.
  • To confirm the liberation process in order to maintain as high a percentage of Jumbo/XL/Large flakes within the concentrate as these attract the highest prices in the market.
  • To confirm the process flow diagram for plant design as part of the forthcoming Feasibility Study.
  • To deliver bulk concentrate to allow Blencowe to initiate discussions with potential off-take partners.

 

Results of Metallurgical Testwork

Blencowe is pleased to announce that all 5 Key Objectives have been met and/or exceeded in this round of testwork, specifically:

  • Concentrate grades consistently ranged at the top end of the spectrum, between 97-98% TGC.
  • Low, or in most cases, no impurities were found within the concentrate.
  • Open cycle and locked cycle floatation test produced excellent recoveries between 80-90%.
  • Approximately 40% of the end product presents as jumbo/XL/large flakes and 60% as medium/smaller flakes.
  • A simple, neat process flow indicates a standard processing facility that can easily be designed and later expanded to meet strong anticipated growth ahead in the demand for graphite.

Overall the metallurgical test-work undertaken to date shows a robust flowsheet capable of repeatable metallurgy for a wide range of feed samples from Orom-Cross.  This consistency is very important in delivering an end product of the highest quality.

 

Offtake Discussions

Blencowe is now better positioned to advance discussions with strategic groups in the knowledge it can deliver a range of high grade end products, and it can now deliver samples as required to provide evidence for further due diligence or local testing. Blencowe anticipates using already identified specialist consultants, with considerable experience in graphite sales and marketing, to provide advice and support as to where to sell its products moving forward.

Processing and Plant Design

A total of eight rougher and cleaner flotation tests were carried out on the Master Composite (being a combination of Northern Syncline and Camp Lode samples) that culminated in a flowsheet which is atypical of similar graphite projects.  The flowsheet consists of a flash and rougher flotation stage followed by a primary cleaning circuit with a polishing mill followed by three stages of cleaner flotation. The intermediate concentrate is classified and then further upgraded in secondary cleaning circuits with stirred media mills (SMM) followed by cleaner flotation.

The proposed flowsheet was employed in a locked cycle test (LCT) to determine the metallurgical response under closed circuit conditions.

The final Master Composite concentrate graded 97.3% TGC, with a 90.1% TC (total carbon) recovery, which exceeded the company’s expectations and places the project at the higher end of its peers. 

The size fraction analysis results of the combined concentrate of the LCT are presented in Table 1.

At the end of the metallurgical program the suitability of the flowsheet and conditions of the proposed flowsheet were evaluated on four separate composites, which represented the high grade and low grade samples in each of the Northern Syncline and Camp Lode zones. The purpose was to understand the consistency of all graphite within Orom-Cross and also to evaluate the priority areas to mine in the event of a wide range of results.

The results show a remarkably consistent end product over both zones and also within the higher and lower in situ grades.  Consistency is very valuable in these circumstances, both for mine planning as well as processing.

Combined concentrate grades ranged between 94.7% TGC for the Camp Lode high-grade composite to 98.1% TGC for the Camp Lode and North Syncline low-grade composites.  The open circuit recoveries of the North Syncline and Camp Lode high-grade composites were 80.9% and 88.4% TC respectively.  Despite the lower head grades of the North Syncline and Camp Lode low-grade composites, the open stage recoveries for the two samples remained high at 80.9% and 80.4% TC respectively.

Table 1 : Size Fraction Analysis of Combined Concentrate of LCT

Particle Size

Assays

Distribution

Flake Category

Tyler mesh

( µ m)

% C(t) (TGC)

% C(t)

+32

+500

98.1

1.5

Super Jumbo

-32 + 48

-500 + 297

98.0

12.3

Jumbo

-48 + 80

-297 + 177

97.7

22.6

Large

-80 + 100

-177 + 149

97.5

9.6

Medium

-100 + 200

-149 + 74

97.0

27.0

Small

-200

-74

96.6

13.0

Amorphous

-325

95.7

13.9

The above table highlights that Blencowe will be able to produce a range of high quality end products from Orom-Cross.

  • 36.4% as Super Jumbo/Jumbo/Large flakes with an average 98% TGC.
  • 63.6% as Medium/Small/Fines with an average 97% TGC.

The design of the processing plant is based on the SGS test-work and best practice in similar operations. Importantly, the process requires no primary crushing or grinding of the ore which offers a material advantage over hard-rock graphite deposits, both in terms of lower capital expenditure and lower operating costs. The basic flowsheet is shown below in Figure 1:

http://www.rns-pdf.londonstockexchange.com/rns/0494F_1-2021-7-13.pdf

Figure 1: Proposed Orom Flowsheet

Blencowe will mandate an experienced engineering firm to begin formal plant design and this work is expected to be included as part of the Pre-Feasibility Study.

Cameron Pearce, Executive Chairman’s Statement:

“We are absolutely delighted to share these exceptional metallurgical test results for Orom-Cross.  They highlight the fact that we have a very high quality of end products that we will produce, which should not only be in higher demand but should also deliver higher prices.  In all facets these results have exceeded our expectations and they underline the world class potential of Orom-Cross.

Our ongoing drilling programs recently delivered our first 16Mt JORC Resource which we are in the process of upgrading via 2,000m further infill drilling, and we know that we have literally billions of tonnes of graphite at Orom-Cross which we can continue to develop as and when required.  Now our metallurgical test results have added considerable weight to this by showing what an impressive range of end products we can deliver.  The next step is to engage in more detail with strategic groups that have been waiting for the test work result and to begin reviewing the project economics of the mine.

Orom-Cross continues to emerge as a world class graphite project in a safe location. As we begin to outline the economics of Orom-Cross the full potential of what can be achieved will become abundantly clear.”

 

For further information please contact:

 

  Blencowe Resources Plc

Sam Quinn

 

 

Investor Relations

Sasha Sethi

 

 

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@lionsheadconsultants.com

 

Tel: +44 (0)7891  677 441

sasha@flowscomm.com

 

  Brandon Hill Capital Limited

Jonathan Evans

 

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 

 First Equity Limited       Tel: +44(0)20 7330 1883

 Jason Robertson      jasonrobertson@firstequitylimited.com

Twitter  https://twitter.com/BlencoweRes

LinkedIn  https://www.linkedin.com/company/72382491/admin/

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger 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 is moving into the studies phase shortly as it drives towards first production.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated overall resource between 2-3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations thereby ensuring lower operating and capital costs.

Blencowe Resources #BRES – Orom-Cross Graphite Project – Drilling Progressing to Plan

Highlights

  • Stage Two drilling programme over halfway completed and ahead of schedule
  • Expected to define a +10Mt TGC Measured and Indicated Resource with increased tonnage and grades expected from the high-grade Northern Syncline and Camp Lode zones

Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES) is pleased to announce that the Stage Two drilling program that commenced in June is over halfway through, with full completion and demobilisation expected before end-July.

To date 41 holes out of 74, for circa 1,200m of overall 2,000m diamond drilling, have been completed and the first batch of 554 samples has left site for to Mwanza in northern Tanzania where the regional JORC-accredited laboratory is located.

Most of the current drilling program has taken place at the higher grade Camp Lode deposit, which required further drilling in order to bring it into the JORC Standard Resource.  To date 29 holes of planned 36 are completed at Camp Lode and Blencowe Resources is happy to report that the continuity of both grade and geology is strong within the Camp Lode.  This bodes well for a JORC Resource upgrade once all the drilling and assaying is completed.

Blencowe Resources has also undertaken further drilling at the nearby Northern Syncline deposit where 12 of the planned 38 holes are completed.  Grade and continuity are also maintaining and a resource upgrade will be likely there too.

The Company designed this Stage Two in-fill drilling program primarily to upgrade a significant portion of the 16Mt Inferred Resource as announced previously into an Indicated or Measured category, which can then be used for mine planning and design within the Pre-Feasibility Study.  Two further benefits will be firstly to add more tonnes into the overall JORC Resource and secondly to raise the overall grade of the JORC Resource by bringing in the Camp Lode deposit for the first time.

Cameron Pearce, Executive Chairman commented;

“Blencowe is making excellent progress everywhere and the continued good work in the field by our technical partners within Uganda will allow us to upgrade our JORC Resource for Orom-Cross in Q4 2021.  This drill program is being done in parallel with metallurgical test work to determine our optimal end product, the results of which are due shortly from SGS in Canada, and together they will provide the Company with the foundation upon which it can shortly commence its first commercial studies of the project.

Our team has delivered considerable value uplift on Orom-Cross in just fifteen months since we acquired the project and in the next few months we believe we will add considerably more value as the Stage Two drilling and metallurgical test work programs complete. 

Orom-Cross is shaping up to be an outstanding graphite project and we will continue to develop it in all facets towards first production, while momentum gathers all the time for our end-product, being one of the critical input materials into lithium-ion batteries used to power electric vehicles.”

For further information please contact:

Blencowe Resources Plc

Sam Quinn

 

 

Investor Relations

Sasha Sethi

 

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

 

Tel: +44 (0)7891  677 441

sasha@flowscomm.com

 

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 

 First Equity Limited                                                   Tel: +44(0)20 7330 1883

Jason Robertson                                                        jasonrobertson@firstequitylimited.com

 

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/ 

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger 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 is moving into the studies phase shortly as it drives towards first production.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated overall resource between 2-3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations thereby ensuring lower operating and capital costs

Blencowe Resources (BRES) – TR-1: Spreadex LTD now holds 19.81%

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BFCMVS34

Issuer Name

BLENCOWE RESOURCES PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of financial instruments

3. Details of person subject to the notification obligation

Name

Spreadex LTD

City of registered office (if applicable)

St. Albans

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

 

City of registered office (if applicable)

 

Country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached

08-Jun-2021

6. Date on which Issuer notified

24-Jun-2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

16.990000

2.820000

19.810000

23374999

Position of previous notification (if applicable)

16.990000

1.760000

18.750000

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)

Number of direct voting rights (DTR5.1)

Number of indirect voting rights (DTR5.2.1)

% of direct voting rights (DTR5.1)

% of indirect voting rights (DTR5.2.1)

GB00BFCMVS34

20049999

16.990000

Sub Total 8.A

20049999

16.990000%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument

Expiration date

Exercise/conversion period

Number of voting rights that may be acquired if the instrument is exercised/converted

% of voting rights

CFD/Spreadbet

3325000

2.820000

Sub Total 8.B1

3325000

2.820000%

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument

Expiration date

Exercise/conversion period

Physical or cash settlement

Number of voting rights

% of voting rights

Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Ultimate controlling person

Name of controlled undertaking

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

11. Additional Information

Matthew Allen
01727895011

12. Date of Completion

24-Jun-2021

13. Place Of Completion

Blencowe Resources #BRES – Interim financial statements for the six month period ended 31 March 2021

The Company is pleased to announce its Interim Results for the six-month period to 31 March 2021.

Electronic copies of the report will be available at the Company’s website www.blencoweresourcesplc.com

For further information please contact:

 

Blencowe Resources

Sam Quinn

 

www.blencoweresourcesplc.com

Tel: +44 (0) 1624 681 250

info@blencoweresourcesplc.com

 

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

 

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

 

Interim Management Report

Dear Shareholder,

It is with pleasure we present you with the Interim Results for the Company, and an update on various

activities underway within Blencowe. The past year has been a challenging one for everybody and it has forced us all to adapt to continue to work, using different methodologies wherever necessary to achieve outcomes.  I am pleased to report that the team within Blencowe, and that includes the wider support network of parties that help and support us everywhere, have all pulled together superbly and found ways to deliver solutions to overcome all challenges.  It is times like this that board, management and key relationships are tested and I would like to give each and every party included under this umbrella my heartfelt thanks for their efforts.  They have been appreciated. 

We have always known that we have a significant resource asset at Orom-Cross, and post the RTO in April 2020 we set out to put as much value onto this project as we could, with a goal to remain efficient in all we did, both in terms of time and cost.  In the past year we have achieved a number of key milestones that continue to add value, culminating in our maiden JORC Resource estimate for over 16 million tonnes graphite, and this represents a starting point as we have explored only the smallest fraction of what is available there.  We have identified two excellent deposits, one of particular high grade, and we drilled them out in a substantial programme that completed in 2H 2020.  Samples were sent to South Africa for assaying, and others to Canada where our metallurgical partner is currently well underway with what is turning out to be a successful test program to deliver a quality concentrate that will be in high demand as we move into production.

We continue to build on these early successes and we have recently initiated a second substantial drilling program in the field at Orom-Cross to further delineate these two deposits and prepare them for mining planning and pit designs that will be required within the feasibility study.  Our plan remains straightforward, to continue building this project towards a decision to mine whilst utilising all our experience to ensure that all key requirements are suitably covered to de-risk the process.

Blencowe remains a firm believer that the push for renewable energy will continue gathering huge momentum moving forward, and the transition from fossil fuel engines to electric vehicles (EVs) will play a central role in this.  Currently the lithium-ion battery is the accepted technology that will power these EVs and graphite remains a core component within the anode inside the battery.  It is therefore logical to assume demand for graphite will remain highly leveraged to growth in demand for lithium ion batteries, and over the next few years Blencowe intends to bring into production one of the lower cost, high grade graphite projects in the world, located in a safe long term jurisdiction for development of such a project. 

We continue to appreciate your support as a shareholder as we continue this exciting journey.

Mike Ralston

Chief Executive Officer

Link here for financial statements 

Blencowe Resources plc #BRES – TR-1: Standard form notification of major holdings

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BFCMVS34

Issuer Name

BLENCOWE RESOURCES PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights; An acquisition or disposal of financial instruments

3. Details of person subject to the notification obligation

Name

Spreadex LTD

City of registered office (if applicable)

St. Albans

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

 

City of registered office (if applicable)

 

Country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached

13-May-2021

6. Date on which Issuer notified

28-May-2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

16.99

1.76

18.75

22124999

Position of previous notification (if applicable)

15.91

0

15.91

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)

Number of direct voting rights (DTR5.1)

Number of indirect voting rights (DTR5.2.1)

% of direct voting rights (DTR5.1)

% of indirect voting rights (DTR5.2.1)

GB00BFCMVS34

20049999

16.99

Sub Total 8.A

20049999

16.99%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument

Expiration date

Exercise/conversion period

Number of voting rights that may be acquired if the instrument is exercised/converted

% of voting rights

CFD/Spreadbet

2075000

1.76

Sub Total 8.B1

2075000

1.76%

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument

Expiration date

Exercise/conversion period

Physical or cash settlement

Number of voting rights

% of voting rights

Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Ultimate controlling person

Name of controlled undertaking

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

11. Additional Information

Matthew Allen
01727895011

12. Date of Completion

28-May-2021

13. Place Of Completion

UK

Graphite at Orom Cross. Alan Green talks to Blencowe Resources #BRES Mike Ralston

Brand Comms CEO Alan Green catches up once again with Blencowe Resources #BRES CEO Mike Ralston.

Mike provides a background on the latest developments at the company’s 100% owned Orom Cross Graphite project in Uganda. We look at the preliminary assay metallurgy test results, before Mike updates on the fully funded Phase 2 drilling campaign.

Mike looks at how the growth in the lithium ion battery and EV market is driving demand for graphite, before providing investors with a milestone route map for the next few months.

Blencowe Resources #BRES – Metallurgical Test Work delivering Positive Results for Blencowe’s Orom-Cross Project

Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce that metallurgical test work currently underway at graphite specialist SGS Lakefield (Toronto) is going
according to plan and results to date confirm the exceptional nature of the end product quality. This is considered critical to the overall Project as a high quality end product provides the basis for more significant offtake interest as well as overall better pricing in the market.
Highlights:
  • Preliminary tests within stage two at SGS Lakefield have confirmed the potential to achieve a concentrate grade between 95-96% TGC with low impurities and high recoveries, from both the Northern Syncline and Camp lodes
  • Further test work will commence on the quality of a sphericalised product from the smaller fines – a product in high demand in the EV sector
Test work to date previously completed during in stage one last year delivered a 94% TGC concentrate with modest recoveries, but in preliminary tests within stage two at SGS Lakefield have confirmed the potential to achieve a concentrate grade between 95-96% TGC with low impurities and high recoveries, from both the Northern Syncline and Camp lodes.
Additionally, the higher grade and recoveries have not impacted the recovery of the large to jumbo flakes and a revised approach to the processing methodology has enabled these higher value larger flake sizes to be mostly preserved in the upgrading. The process to deliver this concentrate is similar to other graphite projects and the relatively simple design circuit lends additional credence to the proposed Blencowe approach of a modularised plant that is easily expandable. This would allow for a more modest start-up position to ensure lower risk via a lower capital requirement for initial production, but would allow for a quick ramp up process at any stage thereafter if market demand increases as forecast and requires higher production levels of graphite concentrate.
Blencowe and SGS Lakefield will continue to build on these results to achieve the optimal outcomes as final stages of test work nears completion. Thereafter further test work will commence on the quality of a sphericalised product from the smaller fines. High quality sphericalised graphite is used within the anode for lithium-ion batteries and supply is forecast to be in a significant deficit to demand ahead as the electric vehicle (EV) expansion gathers pace over the next decade.
Executive Chairman Cameron Pearce commented; “We entered this metallurgical test work with the goal of achieving best possible results for each of the four critical items under review, namely delivery of a high grade concentrate with low impurities, high recoveries, and the preservation of large flakes. To achieve all of these together in an end product would be a stellar result as it would put Orom-Cross right up there with the better graphite projects worldwide. We are working through each parts of this exercise and the results to date are positive and we are very encouraged with the test work results”
For further information please contact:
Blencowe Resources Plc
www.blencoweresourcesplc.com
Sam Quinn
Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Investor Relations
Tel: +44 (0)7891 677 441
Sasha Sethi
sasha@flowscomm.com
Brandon Hill Capital Limited
Tel: +44 (0)20 3463 5000
Jonathan Evans
jonathan.evans@brandonhillcapital.com
First Equity Limited
Tel: +44(0)20 7330 1883
Jason Robertson
jasonrobertson@firstequitylimited.com
Background
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a
high component of larger flakes identified from previous work performed. A 21-year Mining Licence
was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit, with an estimated total resource in
excess of three billion tonnes of graphite. Development of the resource is expected to benefit from a
low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.
Phase two drilling is underway to upgrade the JORC Standard resource estimate already achieved
and this will be completed in parallel to metallurgical test work underway to deliver a high grade end
product. With both of these Orom-Cross will move into feasibility study stage over the next 6-12
months.

Blencowe Resources #BRES – Updated Corporate Presentation

Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES), the natural resources company focussed on the development of the 100% owned Orom-Cross Graphite Project in Uganda, is pleased to advise an updated corporate presentation has been uploaded to the Company’s website and can be found here:

https://blencoweresourcesplc.com/presentation/

The presentation provides information on the recent maiden JORC resource, current ongoing and fully funded work programs and a broader overview of the increasingly buoyant graphite market, driven by the continued expansion of the EV market.

For further information please contact:

  Blencowe Resources Plc

Sam Quinn

Investor Relations

Sasha Sethi

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

Tel: +44 (0)7891  677 441

sasha@flowscomm.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

  First Equity Limited     Tel: +44(0)20 7330 1883

 Jason Robertson    jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

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