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Blencowe Resources #BRES – Exercise of Share Options
Blencowe Resources Plc (LSE: BRES) announces that Executive Chairman Cameron Pearce has exercised share options in the Company.
The share options were issued on 16 December 2021, with a 6p exercise price and a term of five years to maturity. Cameron Pearce was issued 1,500,000 options respectively and is exercising 1,000,000 at 6p, resulting in proceeds of approximately £60,000 for the Company.
|
Director |
Share Options Granted |
Exercise Cost at 6p |
Current Holdings |
Holdings on Admission* |
% Holdings on Admission |
|
Cameron Pearce |
1,000,000 |
£60,000 |
16,516,667 |
17,516,667 |
3.40 |
Admission and Total Voting Rights
An application has been made for 1,000,000 new ordinary shares to be admitted to trading on the Equity Shares (Transition) category of the official list and the main market of the London Stock Exchange from 8.00 a.m. on 10 September 2026 (“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 501,276,099 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.
Gledhow Investments plc – £400,000 Subscription at 122% Premium. Acquisition of Penina Resources Limited. £219,000 Reduction in Convertible Loan Notes. Proposed Board Appointments and Strategic Repositioning
Gledhow Investments plc (AQUIS – GDH) is pleased to announce a series of transactions which, on completion, will materially strengthen the Company’s balance sheet and mark an important step in its strategic development.
Highlights
- Binding commitments received for a £400,000 subscription at 1 pence per share, representing a premium of approximately 122% to Gledhow’s closing share price on [X] August 2026;
- Acquisition for shares, issued at the same 1 pence per share, of Penina Resources Limited, which has approximately £219,000 of cash and no liabilities;
- Penina’s £219,000 cash balance to be applied towards the immediate extinguishment of £219,000 of Gledhow’s outstanding Convertible Loan Notes;
- Proposed appointment of Sam Quinn and Cameron Pearce as Non-Executive Directors, bringing significant natural resources, corporate finance and capital markets experience to the Board;
- Intention to change the Company’s name to Penina Investments Plc; and
- Proposed increased strategic focus on the natural resources sector, where the proposed new directors have significant experience and established track records.
£400,000 Subscription
Gledhow has entered into binding subscription commitments with a range of new investors, introduced to the Company by Tavira Financial Limited and AlbR Capital Limited, to raise £400,000 gross through the proposed issue of 40,000,000 new Ordinary Shares at 1 pence per share (the “Subscription”).
The Subscription price represents a premium of approximately 122% to the closing price of 0.45 pence per Ordinary Share on [X] August 2026, being the last practicable date prior to publication of this announcement.
The Board considers the ability to raise new equity capital at a substantial premium to the prevailing market price to be a strong endorsement of the Company’s proposed future direction.
Acquisition of Penina Resources Limited
Gledhow has also entered into a binding Share Purchase Agreement (“SPA”) to acquire 100% of the issued share capital of Penina Resources Limited (“Penina”).
On completion of the acquisition, Gledhow will issue 21,900,000 new Ordinary Shares as consideration for Penina.
Penina is a non-trading cash entity with approximately £219,000 in cash and no liabilities. Its current directors are Sam Delevan Quinn and Cameron William Leslie Pearce.
Application will be made to the Aquis Stock Exchange for the admission of 61,900,000 Ordinary Shares, pursuant to the SPA and the Subscription, to trading on the Aquis Growth Market. It is expected that admission will become effective and dealings will commence at 8.00 a.m. on or around [X] August 2026.
£219,556 Reduction in Convertible Loan Notes
Following completion of the acquisition, the Company intends to apply the £219,000 cash acquired with Penina towards the immediate extinguishment of £219,556 of Gledhow’s outstanding Convertible Loan Notes (“CLNs”), previously referred to in the Company’s announcement of 13 August 2025.
This will materially reduce the Company’s outstanding CLN position and further strengthen and simplify its balance sheet.
Proposed Board Appointments
Following completion of the Subscription and the acquisition of Penina, it is proposed that Sam Quinn and Cameron Pearce will join the Board of Gledhow, initially as Non-Executive Directors.
Their proposed appointments will bring substantial additional experience in natural resources, corporate finance, public markets and the financing and development of growth companies.
Guy Miller and Geoffrey Melamet will remain on the Board as Managing Director and Company Secretary respectively.
The appointments remain subject to completion of the transactions and customary due diligence. A further announcement containing the required disclosures pursuant to Rule 4.9 of the Aquis Growth Market Access Rulebook will be made in due course.
Strategic Repositioning
The Board believes that the Subscription, acquisition of Penina, substantial reduction in outstanding CLNs and proposed Board appointments together represent an important step forward for Gledhow.
Following completion, the Company will have a materially strengthened balance sheet, an expanded Board with significant natural resources and capital markets expertise, and enhanced financial flexibility to pursue new opportunities.
Reflecting this new direction, the Company intends to change its name to Penina Investments Plc and adopt a more targeted investment strategy, with a particular emphasis on opportunities within the natural resources sector.
The proposed appointments of Sam Quinn and Cameron Pearce are integral to this strategy. Both have extensive experience in the financing, development and management of natural resources businesses and a track record of involvement with companies operating across international capital markets.
The Board believes the combination of additional capital, reduced indebtedness and enhanced sector expertise will provide a strong platform from which to pursue opportunities capable of delivering long-term value for shareholders.
The Company looks forward to updating shareholders further following completion of the Subscription and acquisition and the formal appointment of the proposed new directors.
Proposed Directors
Sam Quinn
Sam Quinn, a British and Australian citizen, is a corporate lawyer with more than 20 years’ experience in the natural resources sector, spanning legal counsel, corporate finance and executive management roles.
Mr Quinn was previously Director of Corporate Finance and Legal Counsel for the Dragon Group, a London-based natural resources venture capital firm. He currently holds a number of roles within public and private natural resources businesses and has significant experience in the administration, operation, financing and promotion of natural resources companies.
Prior to entering the natural resources sector, Mr Quinn practised as a corporate lawyer with Jackson McDonald Barristers & Solicitors in Perth, Western Australia, and Nabarro LLP in London.
He graduated from the University of Western Australia in 1999 with Bachelor of Laws and Bachelor of Arts degrees and is qualified as a lawyer in Western Australia and England & Wales.
Cameron Pearce
Cameron Pearce, an Australian citizen, has more than 20 years’ professional experience across the Australian and UK financial and corporate sectors.
He has held senior financial and management positions in publicly listed and private companies operating across Australia, Europe, Asia, Africa and Central America and has extensive experience providing corporate, strategic, financial and advisory support to public and private companies.
Mr Pearce is a member of the Australian Institute of Chartered Accountants.
He is currently Chairman of Blencowe Resources and was previously Chairman of Emmerson plc.
Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, following completion of the transactions described above, Gledhow will have 169,684,984 Ordinary Shares of £0.01 each in issue, each carrying the right to one vote.
The Company holds no Ordinary Shares in treasury.
Accordingly, the figure of 169,684,984 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The directors of the issuer accept responsibility for the contents of this announcement.
For further information please contact:
Gledhow Investments plc
Guy Miller
+44 (0) 20 7220 9795
Tavira Financial Limited (Corporate Broker)
Jonathan Evans
+44 (0) 20 7100 5100
Investor Enquiries
Sasha Sethi
Tel: +44 (0) 7891 677 441
sasha@flowcomms.com
Blencowe Resources #BRES – Exercise of Share Options
Blencowe Resources Plc (LSE: BRES) announces that Executive Chairman Cameron Pearce exercised share options in the Company.
The share options were issued on 16 December 2021, with a 6p exercise price and a term of five years to maturity. Cameron Pearce was issued 1,500,000 options respectively and is exercising 500,000 at 6p, resulting in proceeds of approximately £30,000 for the Company.
|
Holdings on Admission Director |
Share Options Granted |
Exercise Cost at 6p |
Current Holdings |
Holdings on Admission* |
% Holdings on Admission* |
|
Cameron Pearce |
500,000 |
£30,000 |
16,516,667 |
17,016,667 |
3.40 |
Admission and Total Voting Rights
An application has been made for 500,000 new ordinary shares to be admitted to trading on the Equity Shares (Transition) category of the official list and the main market of the London Stock Exchange from 8.00 a.m. 8th of June 2026 (“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 492,920,836 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.
For further information please contact:
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Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
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Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
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Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
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Twitter https://twitter.com/BlencoweRes
Blencowe Resources #BRES – Final Assay Results Received Ahead of Maiden Beehive JORC Resource
Multiple +30m Intercepts Continue to Reinforce Scale and Upside at Orom-Cross
Blencowe Resources Plc (LSE: BRES) is pleased to provide the final assay results from shallow drilling at the Company’s new Beehive deposit, one of two substantial new deposits (together with Iyan) recently delineated at the Company’s Orom-Cross Graphite Project in Uganda.
As part of the Stage 7 drilling programme, the Company completed 110 shallow drill holes at Beehive, to test the continuity, thickness and near-surface extent of graphite mineralisation. This announcement reports the final batch of assay results received (40 holes), positioned predominately to the south of the target area, completing the shallow assay dataset for Stage 7 ahead of the Company’s next major resource milestones. This will include a maiden JORC Mineral Resource for Beehive and an updated JORC Mineral Resource for the wider Orom-Cross system.
The shallow Beehive programme was designed to define near-surface, bulk minable graphite mineralisation, with holes drilled to a planned depth of approximately 30 metres. Importantly, the majority of reported holes intersected graphite mineralisation from near surface to end-of-hole, with many holes ending in mineralisation, supporting potential for continuation below the current shallow drilling depth. This interpretation remains consistent with the previously reported deeper drilling at Beehive, which demonstrated mineralisation continuing to approximately 100 metres depth.
The Company notes that, while this shallow programme was not intended to close out the southern extent of the deposit, results continue to support potential extensions within the broader target area, particularly toward the western end of the deposit.
With assaying now complete, the Company’s independent geological consultants have progressed a preliminary mineralisation model highlighting potential extents of the deposit in the hinge area at Beehive. This is in addition to advanced modelling for the upcoming maiden JORC for Beehive where a material update is expected.
Beehive Drilling Highlights (final 40 shallow holes)
· Final assays before JORC: this batch completes the remaining shallow results ahead of a maiden Beehive JORC Resource and a wider Orom-Cross JORC Resource upgrade
· Thick near-surface mineralisation: multiple holes deliver long intervals from surface within the near-surface envelope
· High-grade zones within bulk mineralisation: strong grades continue to occur within the broader mineralised package
· Average grades are consistent with DFS assumptions, with multiple higher-grade zones within bulk mineralisation.
· Step-out upside: drilling indicates potential extensions to the west and south of the target area.
· Selected significant intercepts include:
o BHDD-L327: 0-30.8m | 22.23m true width (TW) @ 7.73% total graphitic carbon (TGC)
o BHDD-L331: 3.68-31.0m | 20.85m TW @ 7.67% TGC
o BHDD-L335: 2.0-31.0m | 22.64m TW @ 6.30% TGC
o BHDD-L402: 9.04-31.4m | 18.88m TW @ 6.67% TGC
o BHDD-L404: 15.25-31.5m | 11.88m TW @ 6.68% TGC
o High-grade zone: BHDD-L310: 0-3.3m | 2.9m TW @ 10.30% TGC
o BHDD-L307: 0.78-18.32m | 13.79m TW @ 6.89% TGC
o BHDD-L403: 0-9.0m | 6.94m TW @ 7.68% TGC
(TGC refers to Total Graphitic Carbon. TW = true width.)
Interpretation and Next Steps
These results continue to support the interpretation of a thick graphite system at shallow depths, while previously reported deeper drilling demonstrates mineralisation continuing to approximately 100 metres depth. Together, the shallow and deep datasets provide the basis to define the near-surface component and the wider vertical growth runway at Beehive.
Beehive has been defined over approximately 1,200 metres of strike and 480 metres of width to date and remains open for step-out extensions to the north and west (particularly toward the western end of the deposit), and to the south; this is in addition to depth continuity below the current shallow ~30m drilling horizon.
Modelling is now at an advanced stage and the Company expects to issue a maiden Beehive JORC Mineral Resource shortly (subject to finalisation of the model and reporting). Based on the thickness, continuity and grade profile demonstrated across the programme, together with the defined footprint of the deposit to date, the Company believes Beehive has the potential to represent a material addition to the Orom-Cross resource inventory. The Company will also provide an updated total Orom-Cross JORC Mineral Resource at the same time.
Blencowe Resources Executive Chairman, Cameron Pearce commented:
“Beehive continues to deliver thick mineralisation from surface with strong continuity and higher-grade zones within the broader envelope. Standout results in this batch include BHDD-L327: 22.23m TW @ 7.73% TGC, BHDD-L331: 20.85m TW @ 7.67% TGC and BHDD-L402: 18.88m TW @ 6.67% TGC, alongside BHDD-L310: 2.9m TW @ 10.30% TGC. These all have long intersections of shallow high grade graphite which support low cost mining. Through extensive metallurgical testing via experts worldwide we have already proven the high quality of Orom-Cross graphite as both concentrates and purified products. Scale and quality together are very valuable.
With mineralisation previously demonstrated to around 100 metres depth and the deposit open for step-outs to the north and west and to the south, we believe Beehive has the potential to be a material addition to Orom-Cross, subject to JORC reporting. Modelling is now well advanced and we expect to issue a maiden Beehive JORC Mineral Resource shortly, which will also provide an updated Orom-Cross JORC Resource. We continue to progress strategic and funding discussions in parallel, with offtake interest remaining strong.”
Beehive Deposit – Preliminary Mineralisation Model
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Beehive Deposit – Key Drill Results
Figures 1-2: Beehive Deposit drill sections showing thick, continuous graphite mineralisation remaining open at depth.
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Blencowe Resources Plc |
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Sam Quinn (Director) |
Tel: +44 (0)1624 681 250
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Sasha Sethi (Investor Relations) |
Tel: +44 (0) 7891 677 441 |
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Tavira Financial (Joint Broker)
Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
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Oak Securities (Joint Broker)
Calvin Man /Mungo Sheehan / Jerry Keen |
Tel: +44 (0)20 3973 3678 |
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Blencowe Resources #BRES – Exercise of share options
Blencowe Resources Plc (LSE: BRES) announces that Executive Chairman Cameron Pearce exercised share options in the Company.
The share options were issued on 16 December 2021, with a 6p exercise price and a term of five years to maturity. Cameron Pearce was issued 1,500,000 options respectively and is exercising 500,000 at 6p, resulting in proceeds of approximately £30,000 for the Company.
|
Director |
Share Options Granted |
Exercise Cost at 6p |
Current Holdings |
Holdings on Admission* |
% Holdings on Admission |
|
Cameron Pearce |
500,000 |
£30,000 |
16,016,667 |
16,516,667 |
3.40 |
Admission and Total Voting Rights
An application has been made for 500,000 new ordinary shares to be admitted to trading on the Equity Shares (Transition) category of the official list and the main market of the London Stock Exchange from 8.00 a.m. on 19 March 2026 (“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 485,257,367 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.
For further information please contact:
|
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
|
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Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
|
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Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
Blencowe Resources #BRES – Maiden 16.9 Mt JORC Mineral Resource for Iyan Deposit
Total Orom-Cross Mineral Resources increase 66% to 43.0 Mt and expands growth runway
Blencowe Resources Plc (LSE: BRES) is pleased to report the completion of a maiden JORC (2012) Mineral Resource Estimate Statement for the recently discovered Iyan deposit, part of the Company’s 100% owned Orom-Cross Graphite Project in Uganda.
The maiden Iyan JORC incorporates assay results from the 87 shallow drill holes completed to date with an Inferred Mineral Resource of 16.9 Mt @ 6.0% TGC, confirming Iyan as a high-tonnage, near-surface extension of the wider Northern Syncline graphite system. The addition of Iyan materially increases the overall Orom-Cross Mineral Resource base and further demonstrates Orom-Cross as a multi-deposit, long-life, large-scale graphite development.
Highlights:
Iyan JORC Resource Orom-Cross 2026 Mineral Resource update;
· Maiden Iyan Mineral Resource: 16.9 Mt @ 6.0% TGC (Inferred) at a 3.5% TGC cut-off
· Total Orom-Cross revised JORC Mineral Resource (2026 update): 43.0 Mt @ 5.76% TGC (Measured + Indicated + Inferred) @ 3.5%TGC cut-off
o Measured Resource: 1.20 Mt @ 5.13% TGC
o Indicated Resource: 16.41 Mt @ 5.7% TGC
o Inferred Resource: 25.40 Mt @ 5.82% TGC
Notes:
· 66% uplift in JORC Resource:
· Open for growth: mineralisation remains open along strike and at depth at Iyan, with multiple holes ending in mineralisation
· Beehive next: assays results are now being received for the other discovery, and these results will be incorporated into a future further JORC update
· Funding advancing: the increased scale and deposit pipeline support ongoing strategic and funding discussions as the Company progresses development planning
Table 1: Orom-Cross Mineral Resource Summary by Deposit (reported; JORC 2012; 3.5% TGC cut-off).
Northern Syncline + Camp Lode + Iyan = 43.0 Mt.
|
Deposit |
Measured (Mt) |
Indicated (Mt) |
Inferred (Mt) |
Total (Mt) |
Grade |
|
Northern Syncline |
1.20 |
14.19 |
8.14 |
23.53 |
5.4% |
|
Camp Lode |
– |
2.22 |
0.36 |
2.58 |
6.9% |
|
Iyan |
– |
– |
16.90 |
16.90 |
6.0% |
|
Beehive |
TBC |
TBC |
TBC |
TBC |
TBC |
|
Total Orom-Cross |
1.20 |
16.41 |
25.40 |
43.01* |
5.8% |
*Totals subject to rounding. Beehive is not included in the reported Mineral Resource total; a Beehive Mineral Resource will be reported once drilling results have been received and modelled.
Iyan Deposit Block model:
Block model of the Iyan Deposit. Mineralisation remains open along strike and at depth; multiple drill holes end in mineralisation.
Ore Reserves remain unchanged and are presented separately below.
Table 2: Orom-Cross Ore Reserve Summary (unchanged, JORC 2012)
Northern Syncline + Camp Lode only.
|
Deposit |
Ore Reserve (Mt) |
Grade (%TGC) |
|
Northern Syncline |
20.59 |
4.99 |
|
Camp Lode |
2.49 |
6.74 |
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Total Ore Reserve |
23.08 |
5.18 |
Ore Reserves are a subset of Mineral Resources and are not additive to the Mineral Resource total. The Iyan Deposit is currently reported as a maiden Mineral Resource only and has not yet been converted to Ore Reserve. Further infill drilling is required to bring a portion of Iyan Resources into Reserves.
Key Results and Significance of the JORC Resource Upgrade
· Step-change in Size and Scale: maiden Iyan MRE lifts total Orom-Cross JORC Mineral Resources to 43.0 Mt, strengthening project scale and development optionality
· Confidence + Mineability: strong continuity over ~2.2 km strike; shallow drilling supports open-pit potential and a low strip ratio
· Metallurgy aligned: consistent with prior testwork, supporting current processing assumptions
Exceptional growth runway remains
· Beehive and step-outs: additional drilling results are being received and will be incorporated into future updates, providing scope for further Mineral Resource growth
· Depth upside: deeper drilling has confirmed mineralisation to over 100 metres in all deep holes drilled to date at both Iyan and Beehive, indicating vertical expansion potential
· Licence largely untested: only ~2% of the licence area has been drill tested to date
Blencowe CEO, Mike Ralston, interviewed with Vox Markets on this JORC upgrade and other current matters and the link is highlighted below:
http://www.voxmarkets.com/articles/q-a-with-blencowe-resources-ceo-mike-ralston-44f77bf
Blencowe Resources Executive Chairman, Cameron Pearce commented:
“Today’s maiden Iyan JORC Mineral Resource is a major step forward for Orom-Cross. It defines 16.9 million tonnes at 6.0% TGC adding near-surface tonnes with strong continuity, and lifts total JORC Mineral Resources by 66% to 43.0 million tonnes across Northern Syncline, Camp Lode and Iyan deposits.
This increased scale and the growing deposit pipeline support our ongoing strategic and funding discussions as we progress development planning.
Importantly, we are not done. Mineralisation remains open along strike and at depth, and Beehive results are now coming through, which we expect to incorporate into a future JORC update.”
Competent Person’s Statement
The information in this release, which is related to Mineral Resource estimation, was compiled under the supervision of Mr Oscar Van Antwerpen who is the CEO of Minrom Consulting (Pty) Ltd; he is Member of the Geological Society of South Africa (GSSA) and a Registered Professional Natural Scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP).
Mr Oscar Van Antwerpen has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined by the JORC (2012) Code. Mr Oscar Van Antwerpen consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Appendix
(Minrom tables and figures)
· GC – Graphitic carbon, TC – Total carbon.
· No geological losses applied.
· A conservative cut-off grade of 3.5% GC has been applied based on metallurgical testing & preliminary mining parameters.
· Mineralised tonnes have been rounded off and contained graphite tonnages have been rounded off to the nearest 1000 (Kt).
· Contained graphite has been reported without the application of cut-off grades, loss factors, or beneficiation yields.
Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern Syncline, and new Iyan (NS western limb) and Beehive (GT 01a) deposits.
**ENDS**
For further information please contact:
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Blencowe Resources Plc |
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Sam Quinn (Director) |
Tel: +44 (0)1624 681 250
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Sasha Sethi (Investor Relations) |
Tel: +44 (0) 7891 677 441 |
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Tavira Financial (Joint Broker):
Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
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Oak Securities (Joint Broker):
Calvin Man /Mungo Sheehan / Jerry Keen |
Tel: +44 (0)20 3973 3678 |
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Blencowe Resources #BRES – Long Term Incentive Programme
Blencowe Resources Plc (LSE: BRES) announces that it has granted long term incentive programme shares (“LTIP Shares”) over an aggregate 30,000,000 ordinary shares to directors and senior managers of Blencowe, which represents approximately 6.3% of the Company’s existing issued share capital. For the purposes of the LTIP Shares allocation, a share price of £0.09 per ordinary share was used, being the date of this announcement.
Performance and Vesting Conditions
The LTIP Shares are subject to the satisfaction of certain performance conditions to be interpreted at the discretion of the Blencowe remuneration committee and Board over a three-year review period. Upon vesting, no consideration is payable. Subject to vesting and such performance conditions being met, the new LTIP Shares will be allocated to the participants as fully paid ordinary shares, subject to any regulatory restrictions.
The remuneration committee have recommended that 50% of the LTIP Shares vest upon receipt of P1 Funding for the Orom-Cross project. The remaining 50% to vest will be determined in due course by the remuneration committee and the Board. In the event of any change of control of the Company, its subsidiaries or its project, the LTIP Shares will vest immediately.
The following LTIP Share Awards have been granted to Directors and senior group managers:
|
Director / Management |
Position |
LTIP Shares Awarded |
Vesting Period |
|
Cameron Pearce |
Chairman |
7,000,000 |
3 years |
|
Mike Ralston |
CEO |
7,000,000 |
3 years |
|
Iain Wearing |
COO |
7,000,000 |
3 years |
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Sam Quinn |
NED |
5,250,000 |
3 years |
|
Alex Passmore |
NED |
1,750,000 |
3 years |
|
Nabil Alam |
Country Manager |
2,000,000 |
3 years |
**ENDS**
For further information please contact:
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Blencowe Resources Plc |
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Sam Quinn (Director) |
Tel: +44 (0)1624 681 250
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Sasha Sethi (Investor Relations) |
Tel: +44 (0) 7891 677 441 sasha.sethi@blencoweresourcesplc.com |
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Tavira Financial (Joint Broker)
Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
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Oak Securities (Joint Broker)
Calvin Man /Mungo Sheehan / Jerry Keen |
Tel: +44 (0)20 3973 3678 |
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Blencowe Resources #BRES Strengthens European Processing and Offtake Strategy with Alkeemia LOI
Blencowe Resources Plc (LSE: BRES) is pleased to announce it has signed a Letter of Intent (“LOI”) with European specialist graphite processing organisation Alkeemia S.P.A. (“Alkeemia”) to provide toll beneficiation and purification services for graphite produced from the Orom-Cross project in Uganda.
The graphite would be processed at a plant being developed by Alkeemia in Italy, delivering cleaner purified graphite than conventional Chinese processing routes and providing Blencowe with an alternative downstream pathway outside China.
This LOI builds on the successful test work announced on 15 January 2026, which demonstrated that Orom-Cross graphite can be purified to 99.99% carbon content, the highest commercially recognised purity, using Alkeemia’s proprietary European purification technology, qualifying the product for sale into niche, high-value end markets where ultra-high purity is required.
Highlights
· Initial allocation of up to 1,000 tonnes per annum at Alkeemia’s Italian facility, with the intention to increase volumes over time as both parties expand operations.
· Access to simpler, faster, lower-toxicity purification process compared to conventional Chinese processing methods.
· Cleaner purification technology that is increasingly required by European and US offtakers and funding bodies, particularly for battery and energy transition markets
· Establishes a non-China downstream processing pathway, aligned with increasing US and European focus on securing critical mineral supply chains
· Provides Blencowe with near-term, capital-light downstream optionality, alongside its longer-term plans to develop in-country SPG processing in Uganda.
· Strengthens Blencowe’s ability to engage with European offtakers and funding bodies, where local processing and traceable supply chains are increasingly prioritised.
· Strengthens European-aligned and international supply chains for the delivery of high-purity graphite products into global markets.
The Company believes this LOI represents an important step in de-risking its downstream strategy while preserving flexibility as Orom-Cross advances towards production. European toll treatment provides Blencowe with the ability to access premium, high-purity graphite markets without committing to immediate large-scale downstream capital expenditure.
Blencowe and Alkeemia view this LOI as the first stage in establishing a longer-term commercial relationship with scope to expand both processing volumes and collaboration as Alkeemia develops additional capacity and Blencowe advances Orom-Cross.
The Company believes that establishing a European-based purification and toll treatment pathway also opens up potential access to European funding initiatives, where local processing, traceable supply chains and reduced reliance on Chinese-controlled processing routes are increasingly important criteria. The LOI with Alkeemia therefore strengthens Blencowe’s positioning in ongoing discussions with European stakeholders across offtake, strategic partnerships and funding.
Blencowe is already an exclusive supplier of natural flake graphite into the EU SAFELOOP initiative, which is part of the European Union’s €100 billion Project Horizon energy transition programme, further strengthening the Company’s positioning within European battery and energy transition supply chains.
Cameron Pearce, Blencowe’s Executive Chairman commented: “This LOI with Alkeemia, represents a significant strategic step for Blencowe, providing a credible European purification pathway for Orom-Cross graphite using cleaner, innovative processing technology.
As Orom-Cross advances towards production and Alkeemia continues to develop its facilities in Italy, this relationship is expected to support increasing scale and to act as a platform to bring further European offtake opportunities into play.
With China announcing export controls on lithium battery products, equipment and processing technologies, alternatives delivered through Alkeemia have the potential to play a substantial role in supporting the transition of international markets towards purified graphite products produced outside of China.”
Lorenzo Di Donato, Alkemia CEO commented: “We are pleased to formalise our collaboration with Blencowe through this Letter of Intent. Test work has confirmed that Orom-Cross graphite responds well to our purification process, achieving very high purity levels suitable for demanding niche end-user applications.
We see this as the beginning of a constructive partnership, with the potential to expand processing volumes over time and support the development of European-aligned graphite supply chains.”
Issue of Equity
The Company has issued 500,000 ordinary shares to Minex in lieu of fees. Minex has been appointed as consultant to provides access to project financiers that have been reviewing the DFS. Also, the Company has granted Minex with 1,000,000 options at 10p for a period of 3 years.
The Company will make an application for 500,000 New Ordinary Shares to be admitted to trading on the Main Market of the London Stock Exchange at 8.00 a.m. on 28 January 2026.
Total Voting Rights
The Company hereby notifies the market, in accordance with the FCA’s Disclosure Guidance and Transparency Rules, that on Admission, the Company’s enlarged share capital will consist of 477,795,645 Ordinary Shares, each with one vote. The Company does not hold any Ordinary Shares in Treasury. On Admission, the total number of voting rights in the Company is expected to be 477,795,645 and this figure may be used by Shareholders as the denominator for the calculations by which they will 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.
**ENDS**
For further information please contact:
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Blencowe Resources Plc |
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Sam Quinn (Director) |
Tel: +44 (0)1624 681 250
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Sasha Sethi (Investor Relations) |
Tel: +44 (0) 7891 677 441 |
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Tavira Financial (Joint Broker)
Jonathan Evans |
Tel: +44 (0)20 3192 1733 |
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Oak Securities (Joint Broker)
Calvin Man /Mungo Sheehan / Jerry Keen |
Tel: +44 (0)20 3973 3678 |
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Blencowe Resources #BRES – Issue of DFS Performance Shares
Blencowe Resources Plc (LSE: BRES) announces that it has issued 12,000,000 DFS Performance Shares.
The DFS Performance Options have now vested following the completion and publication of the company’s Definitive feasibility Study on 1 December 2025. Accordingly, the Company is now required to issue 12,000,000 new ordinary shares as set out below (the “DFS Performance Shares”).
Each holder of the DFS Performance Shares has agreed to a lock up for a period of 12 months from Admission.
|
Director |
DFS Performance shares issued |
Current holdings |
Holdings on Admission |
Holdings % of Enlarged Share Capital |
|
Cameron Pearce |
3,000,000 |
13,016,667 |
16,016,667 |
3.4% |
|
Mike Ralston |
3,000,000 |
10,891,666 |
13,891,666 |
2.9% |
|
Iain Wearing |
3,000,000 |
10,461,666 |
13,461,666 |
2.8% |
|
Lionshead Consultants Ltd * |
2,250,000 |
7,833,334 |
10,083,334 |
2.1% |
|
Alex Passmore |
750,000 |
2,816,667 |
3,566,667 |
0.7% |
* beneficially owned by Sam Quinn
Admission and Total Voting Rights
An application has been made for 12,000,000 Ordinary Shares to be admitted to trading on the Equity (Transition) category of the official list and the main market of the London Stock Exchange from 8.00 a.m. on 9 January 2026 (“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 475,670,465 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.
For further information please contact:
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Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
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Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
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Tavira Financial Jonathan Evans |
Tel: +44 (0)20 3192 1733
|
Twitter https://twitter.com/BlencoweRes
Blencowe Resources #BRES to Attend Resourcing Tomorrow Conference, London (2-4 December 2025)
Blencowe Resources Plc (LSE: BRES) is pleased to announce that the Company will be attending the Resourcing Tomorrow Conference in London, from 2-4 December 2025. The event will take place at the Business Design Centre, 52 Upper Street, Islington, London N1 0QH.
Chief Executive Officer Mike Ralston, Chairman Cameron Pearce, and Chief Operating Officer Iain Wearing will be available throughout the event to meet with investors, analysts, funds and industry participants to discuss the Company’s ongoing progress at the Orom-Cross Graphite Project in Uganda.
The Company is now approaching completion of its Definitive Feasibility Study (“DFS”), which will deliver a finance-ready operating plan for Orom-Cross and incorporate downstream graphite purification to enhance project value. In parallel, Blencowe has been advancing financing discussions with potential strategic and institutional partners, supported by its financial advisor WaterBorne Capital, to position the project for financing immediately following completion of the study.
At the conference, management will highlight the DFS results and the project strategy moving forward. They will also outline the Company’s approach to advancing financing discussions and strategic partnerships as Orom-Cross moves toward development.
Resourcing Tomorrow (formerly Mines and Money London) is one of Europe’s leading mining investment and critical-minerals conferences, bringing together institutional investors, government representatives, and senior executives from across the global resources sector.
Presentations and Meetings
Mike Ralston will deliver a presentation titled “Advancing Orom-Cross: A Finance-Ready Graphite Project for the Energy Transition” at 11:30 on Thursday 4 December 2025 within the Competing for Critical Minerals cohort at the Investment Theatre. He will also be competing in the Mining Pitch Battle on Critical Minerals at the Investment Theatre at 16:00 on Tuesday 2 December.
Blencowe will also be exhibiting at Stand E29 throughout the event, where management will be available for one-on-one meetings with participants attending the conference. To arrange a meeting in advance, please contact info@blencoweresourcesplc.com
Blencowe Resources CEO Mike Ralston commented: “We are entering a pivotal stage for Blencowe as the DFS nears completion and financing discussions gather pace. Orom-Cross will soon be a significantly de-risked, finance-ready graphite project, and we are seeing strong interest from parties aligned to our development and downstream strategy. Resourcing Tomorrow provides an excellent opportunity to showcase the quality and scale of what we’ve built and to accelerate engagement with potential partners as we move into the next phase.”
**ENDS**
APPENDIX
A recent interview with CEO Mike Ralston, discussing the Company’s progress toward the DFS and advancing financing discussions, is available here:
https://thatstocksguy.substack.com/p/blencowe-resources-a3b
The most recent corporate presentation outlining the Orom-Cross project and upcoming milestones is also available on the Company’s website:
https://blencoweresourcesplc.com/presentation/
Note: This announcement and the referenced interview contain no new material information beyond that already disclosed by the Company.
Contacts
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Blencowe Resources Plc Sam Quinn (London Director) |
info@blencoweresourcesplc.com +44 (0)1624 681 250 |
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Investor Enquiries Sasha Sethi
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Tel: +44 (0) 7891 677 441 sasha.sethi@blencoweresources.com
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Tavira Securities Jonathan Evans
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Tel: +44 (0)20 7100 5100 jonathan.evans@tavirasecurities.com |