"We are confident this programme will significantly extend our JORC Resource and Reserve base and we will be working closely with our technical partners to deliver the best results possible in the shortest timeframe, feeding directly into the DFS. We are especially excited to be drilling a new deposit which may ultimately deliver further higher grade tonnes into our project. Higher production volumes will make a substantial difference to the NPV within the DFS modelling.

As a result of successfully completing bulk sample test work over the past 12 months to become pre-qualified, combined with our evolving downstream SPG strategy that will give Orom-Cross a nearby offtaker for life of mine, we can now expect sell more product than we originally believed was possible within the PFS. This increase in demand supports our decision to build up Reserves beyond initial PFS expectations, aligning with the significant market need for high-quality graphite."

Cameron Pearce, Executive Chairman, Blencowe Resources (BRES)