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Pin to quick picksBlencowe Resou. Share News (BRES)

Share Price Information for Blencowe Resou. (BRES)

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Share Price: 4.75
Bid: 4.50
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Blencowe Resources Annual Loss Widens, Looks To Finalise Orom Buy

Thu, 30th Jan 2020 17:03

(Alliance News) - Blencowe Resources PLC on Thursday reported a widened loss for its financial year on higher expenses, as it continues to progress with its acquisition of Consolidated African Resources Uganda Ltd, the holder of the Orom graphite project in northern Uganda.

For the year to the end of September, the natural resources-focused investment vehicle reported a pretax loss of GBP243,119, widened from GBP163,520 the year before, as administrative fees and other expenses rose.

In October, Blencowe announced an agreement to buy Consolidated African Resources Uganda off Consolidated Africa Ltd via a reverse takeover.

Blencowe will acquire CARU for GBP2 million, the funds to be raised via a placing of 33.3 million new shares at 6.0 pence each.

The acquisition remains subject to the fundraising taking place, the enlarged group being re-listed on the London Main Market, and shareholder approval.

Shares in Blencowe are currently suspended in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
15 Apr 2024 10:17

Blencowe makes progress on Uganda project feasibility study work

(Alliance News) - Blencowe Resources PLC on Monday reported "significant progress" on its definitive feasibility study work for its project in Uganda.

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10 Apr 2024 12:40

Blencowe receives third tranche of funding for graphite project

(Alliance News) - Blencowe Resources PLC announced on Wednesday the receipt of a third tranche of its grant from the US International Development Finance Corp, to fund work on the Orom-Cross graphite project in Uganda.

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16 Feb 2024 15:15

UK shareholder meetings calendar - next 7 days

Monday 19 February 
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East Imperial PLCGM re capital reorganisation
Oxford Cannabinoid Technologies Holdings PLCGM re convertible loan note agreement with Cantheon
Residential Secure Income PLCAGM
Tuesday 20 February 
abrdn Equity Income Trust PLCAGM
Carr's Group PLCAGM
Dewhurst Group PLCAGM
Duke Royalty LtdEGM re changing name to Duke Capital
Wednesday 21 February 
Foresight Sustainable Forestry Co PLCAGM
Gooch & Housego PLCAGM
Tharisa PLCAGM
Thursday 22 February 
Bankers Investment Trust PLCAGM
Narf Industries PLCAGM
RWS Holdings PLCAGM
Sunrise Resources PLCAGM
Friday 23 February 
Blencowe Resources PLCAGM
Bluebird Merchant Ventures LtdAGM
Caledonian Trust PLCAGM
Chemring Group PLCAGM
Marble Point Loan Financing LtdEGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Jan 2024 11:57

Blencowe Resources receives letter of interest for debt funding

(Alliance News) - Blencowe Resources PLC on Monday said it received a formal letter of interest regarding a participation in debt funding by the US International Development Finance Corp.

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25 Jan 2024 21:59

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2 Jan 2024 11:55

Blencowe Resources ships bulk graphite to China for testing

(Alliance News) - Blencowe Resources PLC on Tuesday said 600 tonnes of bulk sample graphite mined at its Orom-Cross project have been shipped to China for testing, and reported that it expects a grant funding from the US to complete soon.

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TRADING UPDATES: Ondine Biomedical raises GBP2.9 million via placing

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TRADING UPDATES: Helium One says Tai-3 rig temporarily shut down

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10 Oct 2023 13:15

Blencowe Resources receives first USD1 million grant funding

(Alliance News) - Blencowe Resources PLC on Tuesday said it has received its first USD1 million mobilisation tranche payment from the Development Finance Corp.

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22 Sep 2023 18:06

TRADING UPDATES: Blencowe hails USD5 million grant; Kodal progresses

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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22 Sep 2023 08:49

Blencowe shares soar on US government investment

(Sharecast News) - Shares in Blencowe Resources surged on Friday after the Uganda-focused graphite miner said it had received $5m in US government support for its Orom-Cross project.

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4 Sep 2023 14:02

Blencowe says bulk sample confirms high quality graphite at Orom-Cross

(Alliance News) - Blencowe Resources PLC on Monday said China-based specialist laboratory, Jilin New Technology, has completed additional metallurgical test work on the Orom-Cross graphite project.

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14 Aug 2023 11:13

IN BRIEF: Blencowe completes "critical" part of bulk sampling study

Blencowe Resources PLC - London-based graphite miner operating the Orom-Cross project in northern Uganda - Says it has successfully completed a "critical component" of the project's definitive feasibility study, with the successful scaled commercialisation of the flowsheet within the bulk sample processing at a pilot plant graphite production facility in China. Blencowe expects the bulk sample test programme to be completed by the end of the month. The 100 tonne pilot plant process is confirming the Orom-Cross ores' commercial processing viability and is currently nearing completion. Blencowe says sampling results continue to show that Orom-Cross can deliver in bulk a high-grade, low impurity concentrate. Says Chinese graphite offtake firms have expressed interest in "substantial quantities" of larger flake and fine concentrates from the project, and that several firms also have approached Blencowe regarding in-country downstream processing opportunities.

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