Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Completes pre-feasibility study on time and on budget. Says the study indicates a robust and "profitable" graphite mining operation at the Orom-Cross graphite project in Uganda. Estimates a net present value of USD482 million and a 14-year mine life that can be increased by additional drilling. Plans to move towards initial stage production at Orom-Cross by the second half of 2023.
Current stock price: 3.73 pence, up 9.6% on Tuesday
12-month change: down 33%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Blencowe Resources (BRES)