Member Info for pj70

What is interesting is the first set of results for the middle trench were stronger than the ones today with the ones today still good as continuity in above 5% grade even if swayed to the western side of the area.

Will be very interested to see whether the bottom trench which i am presuming will be the final assay results back which way they replicate the middle trench OR the top trench?

SeaTank - thanks for this and your 100% right. Interestingly my best two performing stocks are Seplat and Greatland Resources over last 12-18 months and with both i cannot see a reason to sell as can see a doubling in SP over the next 2 years BUT there is that little niggle of taking profits.

SVML it is a significant tier 1 project and a different level to Blencowe so very difficult to compare capex also they only have to build a 6km spur for railing to port which is a huge advantage over Blencowe.

No change from what we assumed with Beehive and just have to wait until end of Q2 for full results for the JORC mineral resource which is always going to be required for any financing discussions.

Thanks herminator - many of the points you wrote on why to hold are where i am at but was not aware of the MCSI inclusion in September. I bought in between 1.80 and 2.20 last year and have been shocked at the escalation in price but still feel that it has someway to go especially as gas sales really start to ramp up and get factored into the financials going forward. What that value is i dont know but think it will be big like yourself this year.

I have been wondering whether to take some profits but there is nothing in the way this is managed or the nigerian risk premium that is saying sell now as i feel there is still someway to go. In regards to net debt i actually think they potentially will clear it by this year end which would be unusual for an O&G to be debt free.

For me i may top slice at £6 as i do agree they have some way to go

Sakura come back later in the year especially upon confirmation that the electric grid is hooked up. Until then i wait with my small holding after clearing out my holding between 16p and 17p on the news of Dupax. DB needs to gain my confidence again and the electric hookup to La India will get that back if done by Q4 this year.

Dividendnomad - personally no. Even with the restarting of the gas there is still too much risk and why Energean is currently priced where it is - in my opinion. I actually sold my holding fortunately awhile back but have kept an eye on it. Do i think it is worth alot more than current SP for the FCF - 100%. Do i think there is risk that tomorrow or the day after that the gas pipeline and facilities could be bombed or taken out - 100% yes. So until the conflict is over i will await for reinvestment - this is just my strategy with Energean.

Also only allowed a maximum of 56 ton on roads in Uganda so you can work out for Phase 1 and Phase 2 with the tonnage forecast what you need to be doing per week and how many trucks at each stage. Realistically for the 20kt phase 1 you would be only shipping circa 400t per week or doing it monthly with a site at Gulu for stockpiling daily runs awaiting train to mombasa and out.

Can see why they need to process in Uganda for 4-5 times the pricing of the raw ore at 500 a tonne as be difficult to make this financially feasable in early days.

They will definitely be looking at the train option from Gulu as mine to mombasa is over a days drive and orom cross to Gulu is 3 hours roughly and when your wanting to do over 3000 tonnes a week ultimately then train is only commercially viable option. Still snags with train at the moment due to gauge differences:

Current Rail Logistics Route

To move cargo from Gulu to Mombasa, the typical route follows this sequence:

Gulu to Tororo: Goods are loaded at the Gulu Logistics Hub onto the rehabilitated metre-gauge railway (MGR) line. This section connects northern Uganda to the eastern border.

Tororo to Kampala/Border: The cargo continues on the MGR to the Malaba border crossing or to the Kampala terminal.

Malaba to Mombasa: Once in Kenya, cargo can be transferred to the Standard Gauge Railway (SGR) at major inland terminals like Naivasha or Nairobi, or continue on the Kenyan MGR directly to the Port of Mombasa.

Found this with AI:

Blencowe Resources is developing the Orom-Cross graphite project in northern Uganda, one of the world's largest graphite deposits. The company plans to truck graphite concentrate primarily via road to the Kenyan port of Mombasa for export to international customers, leveraging newly upgraded infrastructure.

Blencowe Resources

Blencowe Resources

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Trucking Logistics and Route

Initial Extraction & Transport: The project is located in the Orom District, with an estimated 28 km of unsealed road leading from the mine site to the main Kitgum-Gulu road.

Upgraded Road Access: A UK-funded project is upgrading the roads from Kitgum to Kidepo, which includes a new junction linking the mine directly to the upgraded highway, enabling efficient, all-weather transportation from the mine to the port.

Route to Port: The primary transport route is southward from the mine, likely heading towards Gulu and then southeast to the Kenyan border and on to the Mombasa port on the Indian Ocean.

Alternative Logistics: The company is also considering using rail from the regional center of Gulu to further reduce transport costs to the coast

Has anyone thought about there exit plan and at what price?

Some large parcels of shares offloaded today and holding price down interestingly. after 1 week of large buys to up the price we now have an offload in the last 2 hours. Interesting.

Coiloil i hope your wrong but i think many of us think the same thing and due to power hungry maniacs in power of two large nations. I do think though the supply deficit numbers across various articles for graphite over the next 4 years only goes to show how many new mines need to open to cover this transition for both domestic consumption (car batteries) and military.

I think one just needs to be patient to let the ducks line up over the next few months and over the next year as the funding and getting to production are all separate steps that normally see miners incrementally go up significantly in market cap.

We know the resource is there and will be upgraded as time goes by, now is the stage for funding which appears to be close due to the nature of the product that they have and the size/scale of the prize jursidiction aside. The next step is translating that funding with lead items to get to production in H1 next year. One question for the more learned - how are they logistically getting the tonnage to the coast for shipping and is there anything written about this in any RNS or video?

The fact that it is mentioned at all in the article is an endorsement in my opinion on the value of the project and Blencowe.

Agree but something is now holding it back and not sure whether it is the diesel price concern OR q1 results which were not great BUT the lack of a stockpile to avoid the issue is poor operational mine mgmt especially for a qtr OR is it Touro permitting is a concern and why the spainish fund sold out half ot there holding?

Thanks for the clarification and great news that they are not on AIM. Sorry my mistake

Fortuna - for me IF they get to production or anywhere like that the overhang will be picked up by a fund or insto as currently we are a retail PIs type of investment with out the funds on board as we are seen as speculative and also on AIM which limits who can invest. Once that funding is in place those warrants will be absorbed by a larger player taking the usual 4-5% stake that can invest in AIM.

Legalwolf interestingly gold is starting to strengthen again so i agree there is a feeling that maybe the middle east incursion maybe coming to a bit of an end and also interestingly the oil price has been dipping so maybe a deal is close to being arranged.

I do think we will see a massive rebound if the US withdraw from the straits and troop movements are back to the US.

Only on funding Mercedes and time plan to production of Q1 2027

Looking stronger the last few day and lets hope the news in the next few weeks means we have a producing mine in 12 months time