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Cameron Pearce, Executive Chairman commented;
"This latest 600 tonne bulk sample testing is a critical part of our DFS. We aim to demonstrate that end products maintain the same high quality and purity in commercial scale processing that have already been achieved in all previous testing to date. The 100 tonne testing last year confirmed this quality maintains to scale and we are confident we can achieve similar results from this latest 600 tonne testing. Thereafter we will have sufficient quantity of 99.95% SPG to provide for testing with tier one offtakers for product qualification."
Mr Pearce added "We are making significant progress across all DFS objectives. Orom-Cross is a world class graphite project with unique characteristics, and its potential is becoming increasingly evident as we deliver each milestone."
Highlights:
· Bulk Sample Processing - commencement of the 600-tonne commercial scale processing at Jilin in China marks a significant step forward for Orom-Cross DFS.
· Off-take Agreements Progress - senior management and potential offtake partners to meet during April 2024 to advance off-take discussions following strong interest in the large-scale test work, samples delivered to date, and Orom-Cross products across the board.
· Final Sample Delivery - both 96% concentrate and 99.95% spheronised purified graphite ("SPG") provided from this latest bulk sample testing are expected to be delivered in Q2 2024 to potential off-taker parties in sufficient quantity for review, leading to product qualification and ultimately contracts.
Following the delivery of the 600 tonne bulk sample materials to China, processing has commenced at the Jilin facility. This same facility previously conducted successful bulk metallurgical test work for Blencowe on the 100-tonne Orom-Cross sample in 2023.
Blencowe plans to utilise this product to generate large volumes of both 96% concentrate and 99.95% uncoated SPG product for final qualification with potential off-take partners. This process aims to maintain the same consistently high quality as previously delivered via this commercial-scale production process in 2023.
Senior management will visit both China and South Korea over the next few weeks to continue discussions on offtake agreements. Strong interest has been shown to date and Blencowe is confident that this will continue with the ongoing large-scale test work.
Bulk Sample Processing underway at Pilot Plant Facility in China
Progression towards Product Qualification and Offtake Contracts
Blencowe Resources Plc (LSE: BRES) is pleased to report significant progress on the Definitive Feasibility Study ("DFS") works for the 100%-owned Orom-Cross graphite project in Uganda including commencement of the 600 tonne bulk sample test work at the Jilin Huiyang New Material Technology Company Ltd ("Jiliin") facility in China.
I posted this as it wasn't initially appearing on LSE.
Nice update
"both 96% concentrate and 99.95% spheronised purified graphite ("SPG") provided from this latest bulk sample testing are expected to be delivered in Q2 2024 to potential off-taker parties in sufficient quantity for review, leading to product qualification and ultimately contracts"..........that's Q2 not H2......not long to wait fingers crossed!
Almost certainly taking with POSCO then:
“ Senior management will visit both China and South Korea over the next few weeks to continue discussions on offtake agreements. Strong interest has been shown to date and Blencowe is confident that this will continue with the ongoing large-scale test work.”
I wonder if there will be an offtaker RNS in the next month or two .... all sounding positive.
Definitely feels like our time is coming, very exciting to think about where we could be by eoy
Could be a lot sooner if they are meeting this month
Added a few to my ISA last week. Let's hope we stay over 5p this time!
GLA
Only good things to come, certainly seems like two off takes is the route we're taking. Having an offtake outside china is very wise move with all the tension with U.S/West. Think Taiwan situation kicks off - first Chinese will be sanctioned and two forget imports/exports from china during a major war situation.
Back to the day light robbery price of 5p.
The herd have not yet arrived. When they do......
it takes v little to move this. Lots of shares in sticky hands. GLA.
Also remember First Equity target price of 73p:
https://www.branduk.net/buy-blencowe-resources-bres-with-a-73p-price-target-says-first-equity/
That pesky seller is still around I see!
A few chunky sales back to back....
Ready for a chunky top up at the inevitable 4.5p
Long time reader first time commenter here - I know we've noted this (these?) seller(s) before, but are there any hypotheses as to what the hell is actually going on, or why any entity would be looking to sell so much?
Is this an intentional effort to depress the SP? Also, who would possess so many shares that they can so regularly offload them?
Obviously we won't get to the bottom of this but out of curiosity I would be interested to hear hypotheses.
Clever I am also awaiting the inevitable 4.5 return before my next top up, would imagine we'll get there by the afternoon haha
Y33ter. Methinks this time we stay above 5p. There seems to be something positive in the air today!
Our time will come, but it isn't now.
I can see my dear friend Short, has had his profile deleted hence why he hasn't posted for so long - may he Rest in Peace.
Bloody great story here! But I think the Gold story will distract from this being noticed for a while longer, though smart money already moving in as we've seen from the private placings.
Also wondering about how happy the USA will be if there's a Chinese offtake, what with the DFC grant 'n all. So I'm wondering how long they will permit those discussion go forward before stepping in with something like we saw with Perpetua recently.
H2 2024 could be very interesting here.
Paul, good point re gold - I'd add copper to that as well but gold always attracts the most attention once it goes on a run. Drives an emotional response due to being the oldest and most tested investment/storage of wealth.
As per the commander and chief statated on an IC, BRES has advised DFC most demand and processing is inside China (for now) plus they have enough resources for 100s of years of production. Seems DFC accepts we have plenty of graphite to go around for everyone and accepts some Chinese involvement (for now).
A big selling factor for me is due to the defacto involvement of the U.S government , IMO there will be some poison pill, written agreement or gentleman agreement which will prevents a takeover by those cheap, ultra capitalists, fake communists who would very likely try a takeover at the early stage for peanuts.
The above will be even more true if the DFC finances the project. Will for sure be something in the contract preventing a Chinese takeover of one of the likely biggest resources of "premium" graphite.
Lust, love or war? The lust for love instead of war.
My sleepless nights due to over thinking, and OCD have proved to be fruitful to date for the month of April.
Got 30 fat ones with Bres name on it if we can get to the reasonable price of 4.5.
Where art thou o beloved 100k seller!
Its incredible that we are still only £10 million mcap. Really?
£20 million mcap = 10p
we should be there now!
CT - not tempted to push the button now with your 30 quid?
Whoever wanted the 4.50 topup its all yours haha. I'm wondering when we get the prospectus if any of the bigger holders are responsible for the pretty relentless selling? I doubt it but you never know. Otherwise outside of people flipping for a quick 10-20% I really don't understand the rationale of selling down here considering the progress made but each to their own