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#BRES Blencowe Resources PLC – Corporate Presentation

Blencowe Resources is pleased to announce the release of an updated presentation following the completion of the DFC grant.

The presentation can be viewed here and can be found on the Company’s website at https://blencoweresourcesplc.com/presentation/

For further information please contact:



  Blencowe Resources Plc

Sam Quinn



Tel: +44 (0)1624 681 250


Investor Relations

Sasha Sethi

Tel: +44 (0) 7891 677 441



Tavira Financial

Jonathan Evans

Tel: +44 (0)20 3192 1733



First Equity Limited

Jason Robertson

Tel: +44(0)20 7330 1833



Twitter https://twitter.com/BlencoweRes

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

#GRX GreenX Metals LTD – Date of Annual General Meeting

Date of Annual General Meeting  

GreenX Metals Limited (GreenX or the Company) advises, in accordance with ASX Listing Rule 3.13.1, that the Company’s Annual General Meeting (AGM) will be held on Wednesday, 22 November 2023.

An item of business at the AGM will be the re-election of Directors. In accordance with clause 6.2(f) of the Company’s Constitution, the closing date for receipt of nominations from persons wishing to be considered for election as a Director is Wednesday, 4 October 2023.

Any nominations must be received at the Company’s registered office no later than 5.00 pm (Perth time) on Wednesday, 4 October 2023.

Further information about the AGM, including the Notice of AGM, will be provided to shareholders in October 2023.

Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State

For further information please contact:

Dylan Browne                                                                                             

Company Secretary

+61 8 9322 6322                                                                                                                                



This announcement has been authorised for release by the Company Secretary.


#BRES Blencowe Resources PLC – DFC Grant Completed

Orom-Cross is the first pre-production graphite project to achieve support from the Development Finance Corporation (“DFC”), a USA government backed finance provider

DFC to co-fund the Definitive Feasibility Study (“DFS”) and also be lead partner for the project financing of the Orom-Cross into production


  • Ground-breaking technical assistance agreement signed with tier one financial institution to provide Blencowe with significant funding for DFS programme.
  • US$5 million to be input by the DFC as a grant, with a 20% upfront contribution (US$1 million) to be paid immediately.
  • Further DFC payments will be made upon as-agreed feasibility study milestones being achieved.
  • DFC is the United States of America’s (“US”) leading development finance institution that partners with the private sector to provide finance solutions for project development in markets deemed as critical to US interests.
  • DFC is geared to provide funding assistance for Orom-Cross as part of the US Government’s strategic drive to secure a reliable supply chain of critical minerals and metals, within its wider US$1 trillion Biden-renewables strategy.
  • As part of the US$5 million Technical Assistance Grant (“TAG”) the DFC has a right of first refusal on commercial terms to arrange project financing for the Orom-Cross project, which may deliver Blencowe with a potential full funded solution to bring Orom-Cross into production with support from the tier 1 major financial institution.
  • The DFC partnership opens up the potential for Blencowe to consider a larger scale project with potentially far greater returns within the DFS. This will have material ramifications on overall Orom-Cross project value ahead.


Blencowe Resources Plc (“Blencowe” or the “Company”) (LSE: BRES) is pleased to announce it has signed a US$5 million agreement with the DFC in order to provide substantial funding for the Orom Cross DFS programme, via a Technical Assistance Grant.  The DFC is a proxy for the US Government which funds the organisation and ultimately sets its vision, parameters and funding distribution.

Cameron Pearce, Executive Chairman commented;

“This funding relationship with the DFC is a unique and game-changing event for Blencowe. To the best of our knowledge there has been no other graphite project worldwide that has received a similar type grant to date from the DFC.  We appreciate and we value this support and we will do everything we can to build their trust within this relationship, to ensure we deliver a high quality project together.


We believe that that having DFC as our strategic project partner substantially de-risks Orom-Cross and provides us with the means to deliver a world class project from here.  Blencowe presented an excellent US$482 million NPV for Orom-Cross within the Pre-Feasibility Study last year but we are now optimistic that we can deliver an even greater value NPV within the Definitive Feasibility Study as we can expand the project horizons. 


With the support of the DFC, we can address one of the major challenges and risks to any mining being the clear pathway to fund the project into production. We now have the opportunity to build the Orom-Cross project into a world class project with the comfort of a world class strategic partner.


Graphite demand is rising fast and will continue to do so.  It is one of the under-rated but key components of the lithium-ion battery and it is irreplaceable in this regard.  As such any future anticipated surge in demand for these batteries, not just for electric vehicles but for energy storage in all other renewable capacities, will continue to accelerate demand for graphite.  We now have the means to deliver one of the leading graphite projects in the world and a highly incentivised tier one strategic partner with whom we will work with to do that.”


DFC Technical Assistance Grant (TAG)

This is an innovative funding mechanism for the DFC to become involved at an early stage with key projects that they consider to be within their direct scope and strategy.  As Orom-Cross contains an estimated 2-3 billion tonnes of graphite and is one of the largest, high quality deposits worldwide it has considerable long term appeal to the DFC.  Graphite remains high on the US Government critical metals and minerals list, hence this relationship with Blencowe opens a potential supply chain for high value end-product over a very long life of mine.

DFC has been working closely with Blencowe through this TAG process and both the Company and the Orom-Cross project have been subjected to all necessary due diligence in order to progress DFC interest into this monetised initial funding solution.  Both parties see considerable long term value in their association with one another and Blencowe is confident this relationship will assist to provide a larger project funding solution ahead.  One of the key terms within the TAG Agreement is for DFC to be mandated to provide financing for the full Orom-Cross project on commercial terms.

Prospective new graphite producers need to think outside the box to find innovative funding solutions in order to deliver their projects and the DFC relationship provides this for Orom-Cross.  Not only does the US$5 million grant cover a significant portion of the DFS costs, which materially reduces the dilutionary impact to Blencowe of funding the full DFS itself, but it also provides a highly motivated full mine implementation funding partner ahead.  Furthermore, the credibility associated with partnering one of the leading tier one financial institutions worldwide will open a variety of other relationships ahead as key players in the graphite market (including end user OEMs) can see a new high quality graphite project emerging that now has a more certain pathway to production.

Blencowe will immediately request the upfront payment of the initial 20% of the TAG (US$1 million), which together with the Company’s existing funds provides the means to continue DFS work underway and deliver the next as-agreed milestone payment with DFC.  Once this next milestone is achieved further DFC funds are unlocked and so on, until the full grant is utilised and ultimately the DFS is completed.

One substantial advantage that now comes into play with the DFC relationship is that Blencowe is able to consider a larger-scale production strategy than it could do under the base-case scenario that the Company was considering whilst funding solo.  The implications of this are enormous and the Company will provide a further update on this once the revised strategy is finalised.  The expectation would be for a larger project from day one with a downstream processing facility built in-country to produce an uncoated battery-ready 99.95% SPG product.  These factors above will ultimately deliver a considerably higher Net Present Value than the US$482 million NPV achieved within the 2022 Pre-Feasibility Study.

About International Development Finance Corporation

The DFC is the primary US Government finance institution set up to provide financially sound funding solutions for private-sector initiatives pertaining to critical challenges facing the world, in this case the drive towards increased sustainability across the planet.  It is an agency of the United States federal government and represents US interests.

DFC’s lending capacity is used to provide loans, guarantees, equity investments and political-risk insurance for private-sector led development projects, feasibility studies and technical assistance.  DFC invests across several sectors with stated goals of empowerment, innovation, investment into Africa, green energy and climate change.

Orom-Cross is directly linked with several of these goals.  This project may ultimately become one of the largest graphite producing operations in the world over a very long mine life, delivering an end-product in a sustainable manner which is a non-replaceable input component to lithium-ion batteries.  Demand for graphite is accelerating at a rate where it is doubling every few years, and is expected to continue growing exponentially into the future.  Graphite is therefore high on the US Government critical metals and minerals list and assisting to open up long term supply chain of graphite is a key strategy.

Orom-Cross will also deliver a ‘green’ graphite product through a variety of production initiatives, including the use of hydro-electric power for all mining and processing energy requirements.  Orom-Cross aims to become one of the leading sustainable mining projects worldwide and this is a very important component of the DFC charter and critical within a rapidly changing landscape where every participant along the EV supply chain will be audited on their sustainability credentials by OEMs.

Orom-Cross’s potential ability to aid in the further development of the Ugandan economy, empowering its population and driving investment and future development has also proved attractive to the DFC.


For further information please contact:



  Blencowe Resources Plc

Sam Quinn



Tel: +44 (0)1624 681 250



Investor Relations

Sasha Sethi

Tel: +44 (0) 7891 677 441



Tavira Financial

Jonathan Evans

Tel: +44 (0)20 3192 1733



First Equity Limited

Jason Robertson

Tel: +44(0)20 7330 1833



Twitter https://twitter.com/BlencoweRes

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





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.

#UKIM Podcast – UK Property Shares, #AVCT Avacta, and #ECR ECR Minerals with Alan Green

The UK Investor Magazine was thrilled to welcome Alan Green back to the Podcast to discuss a selection of UK shares and the macroeconomic backdrop.

Register for Investment Trust Conference here.

We discuss:

  • Barratt Developments (LON:BDEV)
  • Avacta (LON:AVCT)
  • ECR Minerals (LON:ECR)

UK CPI inflation surprisingly fell to 6.7% in the year to August from 6.8% the month before. Expectations were for CPI read of 7%. We explore the consequences for housebuilding shares and the wider FTSE 250.

Avacta made a landmark announcement yesterday on the clinical trials of their AVA6000 chemotherapy drug. Alan breaks the release down and what to look for in the coming weeks from Avacta.

We finish with a look at the recent developments at ECR Minerals.

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#UKIM Podcast – UK House Prices, Cadence Minerals and Tekcapital with Alan Green

The UK Investor Magazine was thrilled to welcome Alan Green back to the Podcast as we delve into UK markets and a selection of UK stocks.

We discuss:

  • Barratt Developments (LON:BDEV)
  • Tekcapital (LON:TEK)
  • Cadence Minerals (LON:KDNC)

We start with a look at UK house prices and recent data from Nationwide and Halifax. With house prices falling the fastest since 2009, activity in the market is subdued and we explore the impact on Barratt Developments.

Barratt’s completions fell in the last full year but we look forward to how they can benefit from the current downturn and deploy their £1bn cash pile.

Tekcapital has issued numerous positive portfolio company updates and shares have reacted accordingly. We run through the updates, including this morning’s news from MicroSalt.

We finish with a rundown of Cadence Minerals and the latest developments at their Mexcian lithium project.

#SVML Sovereign Metals LTD – Issue of Shares

Further to Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) announcement on 23 August 2023, the Company advises that it has issued 2,932,786 fully paid ordinary shares (Shares) by way of the issue of 439,918 Shares to Rio Tinto and 2,492,868 Shares to SCP Resource Finance, formerly Sprott Capital Partners, as an advisory fee of 3% on the amount of Rio Tinto’s initial investment (refer to announcement date 17 July 2023).

An application will be made for the Shares to be admitted to trading on AIM (Admission) and it is expected that Admission will become effective on or around 29 August 2023.


Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following Admission of the Shares, Sovereign will have 556,903,401 Ordinary Shares in issue with voting rights attached. The figure of 556,903,401 may be used by shareholders in the Company 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 ASX Listing Rules or the DTRs.

Following the issue of Shares, Sovereign has the following securities on issue:

·      556,903,401 fully paid ordinary shares;

·      34,549,598 unlisted options exercisable at A$0.535 each on or before 21 July 2024;

·      6,100,000 unlisted performance rights subject to the “Pre-Feasibility Study Milestone” expiring on or before 30 September 2023; and

·      7,810,000 unlisted performance rights subject to the “Definitive Feasiblity Study Milestone” expiring on or before 31 October 2025.

#TEK Capital investee company #BELL Belluscura PLC – Orders for over 6,500 DISCOV-R™ received

LONDON, U.K. AND PLANO, TX, U.S. (16 August 2023). Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that it has received purchase orders for over 6,500 of its next-generation DISCOV-R portable oxygen concentrator. This represents approximately $15 million of potential revenue to the Company, with initial production of the DISCOV-R expected to begin by the end of this quarter.


Following the pre-market launch of DISCOV-R and a patient usability study in June 2023, the Company plans a controlled roll out of the DISCOV-R this autumn and into 2024 to meet growing demand for the device amid substantial interest from medical device distributors, retailers, patients and durable medical equipment (DME) providers, among others.


The DISCOV-R is expected to be the world’s first ambulatory two litre continuous flow, eight level pulse dose portable oxygen concentrator when it is released. With the ability to produce two litres of continuous flow and maximum single pulse dose volumes exceeding 110ml, the Company believes that the DISCOV-R will be covered by both CMS E1390 (stationary) and E1392 (portable) reimbursement codes, making the DISCOV-R a better financial option for the thousands of homecare oxygen providers. It will also produce nearly three times as much oxygen by weight than its dual flow competitors.


The recent purchase orders follow the signing of several distribution agreements with medical device distributors and other home healthcare providers, including a distribution agreement with a division of McKesson, one of the largest distributors of pharmaceuticals and medical devices in North America, earlier this month and a marketing agreement with GoodRx®, a leading digital healthcare platform, in February 2023. The Company has received multiple additional requests from leading oxygen homecare providers in the US to distribute the DISCOV-R. 


The Company will update the market later this year as it plans its controlled roll out of the DISCOV-R this autumn and into 2024.


Substantial progress on X-PLOR® and proprietary NOMAD biometric app


At the same time, the Company continues to progress its CE and UKCA registration mark application for its X-PLOR® portable oxygen concentrator. Since resources in the US were redirected to completing the development and launch of the DISCOV-R, production of X-PLOR by our Chinese partner, Innomax Medical Technology Ltd (Innomax), has now progressed, with 1,500 units recently being manufactured and shipped to the US for distribution. 


The Company recently established a subsidiary and hired its first employees in Shenzhen, China as it prepares for the anticipated registration of the X-PLOR for sale and distribution in China and Hong Kong later this year. The Company and Innomax believe there is a significant market opportunity in China with approximately 100 million people suffering from COPD.


Additionally, the Company continues to drive innovation in telemedicine and artificial intelligence with its proprietary NOMAD biometric app. The NOMAD app will allow users of the DISCOV-R to track performance data on their concentrator and connected devices such as an Apple® or Samsung® Watch, FitBit® device or Nonin® and Masimo® pulse oximeters. The collective information can then be provided to a patient’s healthcare provider in person or remotely.


The Company is already working on the next-generation NOMAD app that will alert patients when their blood oxygen saturation level has varied beyond parameters set by their doctor, which is expected to help patients better monitor their conditions, but also improve the efficiency of the device by delivering supplemental oxygen as needed.


Bob Fary. Sr Vice President of Global Sales, Belluscura plc, commented:

“We are very excited about the overwhelming interest in the DISCOV-R by online retail sellers and other medical equipment providers. Following the pre-market launch of the product and the patient usability study in June, initial feedback suggests we will receive the same or greater level of interest from leading home healthcare providers once it is launched commercially.”


Bob Rauker, Chief Executive Officer, Belluscura plc, commented:

“We believe the DISCOV-R, combined with our proprietary NOMAD app, will be transformational to the portable oxygen industry and patient outcomes. This is reflected by early demand for the product prior to its full commercial launch, which is expected to take place later this year. The significant number of orders received demonstrates the substantial appetite for this product and we anticipate adding several more of these providers to our distribution network as we balance the high demand with production expectations over the next twelve months.


“This marks another exciting development for the Company, delivering on our strategy to design and manufacture highly differentiated, high quality and high margin products. Amid growing sales and continued progress with our X-PLOR device and NOMAD app, we continue to seek further opportunities to improve the quality of life for our end users”.


For further information please contact:


Belluscura plc

Tel: +44 (0)20 3128 8100

Adam Reynolds, Chairman
Robert Rauker, Chief Executive Officer
Anthony Dyer, Chief Financial Officer

SPARK Advisory Partners Limited

Nominated Adviser

Tel: +44 (0)20 3368 3550

Neil Baldwin / Jade Bayat

Dowgate Capital Limited


Tel: +44 (0)20 3903 7715

James Serjeant / Russell Cook


Financial PR & Investor Relations

Tel: +44 (0)20 3128 8100

email: Belluscura@mhpgroup.com

Katie Hunt/Matthew Taylor


Vox Market Podcast – Alan Green on Frontier IP Group, Parkmead Group & CVS Group

Alan Green, CEO of Brand Communications discusses:

Frontier IP Group #FIPP
Parkmead Group #PMG

Listen – https://audioboom.com/posts/8350265-alan-green-on-frontier-ip-group-parkmead-group-cvs-group

UKIM Podcast – CEO Alan Green discusses Apple, Amazon, and Harland & Wolff

Alan Green joins the Podcast to discuss Apple and Amazon’s earnings, and the US tech sector. We also provide and overview and analysis of Harland & Wolff.

We discuss:

  • Apple (NYSE:AAPL))
  • Amazon (NYSE:AMZN)
  • Harland & Wolff (LON:HARL)

Listen – https://ukinvestormagazine.co.uk/apple-amazon-and-harland-wolff-with-alan-green/

Vox Markets Podcast – CEO Alan Green covers Harland & Wolff, Tekcapital & Versarien

Our CEO Alan Green covers;

Harland & Wolff #HARL,

Tekcapital #TEK,

Versarien #VRS

Listen here: https://www.voxmarkets.co.uk/media/64c7e273a20d3b3253d57a96/?context=/series/daily-podcast

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