Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Begins final metallurgical test procedure for Orom-Cross graphite project in Uganda. Sends samples to Wuhan University of Technology in China and to US graphite technical firm American Energy Technologies Co for spheronised purified graphite and expandables testing. The tests aim to confirm that Orom-Cross concentrate upgrades efficiently to an over 99.95% battery grade product.
Executive Chair Cameron Pearce says: "We are now moving into the final stage of the Orom-Cross metallurgical work within the definitive feasibility study, where our high quality 96% to 97% loss on ignition concentrate will be upgraded to a more purified over 99.95% product. Beyond that there is only testing as required from the original equipment manufacturers themselves to verify all data and if successful thereafter we can move to offtake agreements. We are confident that our Orom-Cross concentrate will be verified ahead as a high-quality end-product and look forward to sharing the results of all of these tests once they are completed."
Jangada Mines PLC, a London-based mining company focused on Brazil, notes Blencowe's announcement, in which it holds a 9.5% stake.
Current Blencowe stock price: 5.03 pence, down 5.2% on Monday
12-month change: up 12%
Current Jangada stock price: 5.07 pence, down 4.3% on Monday
12-month change: down 20%
By Tom Budszus, Alliance News reporter
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Blencowe Resou. (BRES)
Jangada Mines (JAN)