Mike Ralston, CEO of Blencowe Resources, discusses the placing, subscriptions and retail offer
Mike Ralston, CEO of Blencowe Resources (LON:BRES), discusses the £1.5 million placing, subscription and retail offer to complete Definitive Feasibility Study (DFS) for the Orom-Cross Graphite Project in Uganda. In this interview, investors will learn: - How the proceeds from the fund raise will be invested - What that means for the DFS - Why the plan for a 6,000m drilling programme is key to the success of the project - Why management participated in the capital raise - How Orom-Cross is now well positioned for substantial de-risking and significant value creation Reasons to add Blencowe Resources (#BRES) to your watchlist: - Orom-Cross is one of the world's largest estimated graphite deposits both by size and end-product quality - Orom-Cross boasts lowest percentile operating costs, low capital startup requirements, and proven very high quality of end products, both as concentrates and purified battery ready 99.95% spheronised purified graphite (SPG) - BRES has received full Minerals Security Partnership accreditation which provides international exposure at the highest level. - BRES plans to build an in-country downstream purification facility in Uganda to upgrade graphite concentrate to battery ready SPG - making Blencowe one of very few delivering 99.95% purified graphite products outside of China - BRES has been awarded a 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 - The DFS is now fully funded and expected to be completed in 1H25 - BRES is currently in advanced discussions with a range of customers and finalising offtake agreements. Mike Ralston, CEO of Blencowe Resources, was interviewed by Andrew Scott for focusIR.