Blencowe Resources Plc (LSE:BRES) has announced a major enhancement to the JORC Mineral Resource and Ore Reserve Statement for its Orom-Cross Graphite Project in Uganda. The updated assessment shows a significant rise in both ore reserves and indicated resources, reinforcing the asset’s potential as a large-scale, long-life, and low-cost source of graphite. The timing is notable, as global demand intensifies for secure graphite supply chains outside China. The upgraded reserves are also expected to improve financing prospects ahead of the forthcoming Definitive Feasibility Study, which will further establish the project’s technical and economic credentials.
Blencowe’s outlook remains constrained by serious financial pressures, including zero revenue, recurring losses, and persistent negative cash flow. Although technical indicators point to a bearish trend, recent funding initiatives and strategic agreements offer some early signs of improvement. Nevertheless, the company’s current financial and operational hurdles dominate the overall assessment.
More about Blencowe Resources Plc
Blencowe Resources Plc is a mining development company focused primarily on the Orom-Cross Graphite Project in Uganda. The project is aimed at supplying the rapidly growing market for non-China graphite, supported by its scale, resource quality, and strategic geographic positioning.
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