Blencowe Resources Plc (LSE:BRES) has completed key infrastructure workstreams as part of the Definitive Feasibility Study (DFS) for its Orom-Cross graphite project in Uganda. These include the development of power and road access, marking a major step forward for the project. The progress strengthens Orom-Cross’s profile as a low-cost, fast-track development with strong ESG attributes. Leveraging existing infrastructure keeps capital requirements low, enabling shorter timelines to production and significant cost savings. In addition, recent drilling results are expected to deliver a meaningful upgrade to the project’s JORC Resource, potentially enhancing its long-term value.
Despite these operational advances, Blencowe continues to grapple with financial pressures. The company generates no revenue and reports ongoing losses and negative cash flows, which weigh heavily on its investment case. Technical indicators lean bearish, although recent funding initiatives and strategic partnerships suggest some potential for improvement. For now, financial and operational headwinds dominate the outlook.
About Blencowe Resources
Blencowe Resources Plc is a mining company focused on the exploration and development of graphite resources. Its flagship Orom-Cross project in Uganda is regarded as a world-class deposit, notable for its large coarse flake graphite. Supported by a 21-year mining license, the company plans to capitalize on low operating costs through abundant hydroelectric power and well-established infrastructure.
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