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RAB placing clearly been forward sold over the past few weeks.

Expect this to rise significantly now to move towards fair value at many multiples of the present SP

This is MASSIVE NEWS.

To put this into perspective

Tirupati Graphite (TGR) '
VATOMINA project Maiden JORC
Indicated - 3.2mt @ 4.3% GC
Indicated - 15.2mt @ 4.7% GC

& TGR's SAHAMAMY PROJECT
Maiden JORC Resources
Indicated - 1.4mt @ 4.1% GC
Indicated - 5.7mt @ 4.2% GC

BRES now have 24.5 MT @ 6%

MASSIVE HIGH GRADE DEPOSIT HERE

This Represents JUST 1% of our total deposit!!

BRES looks incredibly cheap at these levels.

Proving up a higher grade comparative JORC resource for a company that is circa 10 x the present market cap here!!!

Highlights

· Total Resource increased by 50% (8.1Mt) to 24.5Mt at 6.0% TGC

· 24.5Mt at 6.0% TGC contains sufficient Measured and Indicated Resource for the first 15 years life of mine

· 340% (9.4Mt) increase in Indicated and Measured Resources to 13.2Mt, giving a higher level of accuracy and confidence in the deposits to be mined

· Grade remains consistent over the extended zones drilled at both deposits

· High-grade zones evident within the Northern Syncline, including 3.4Mt @ 8.4% TGC

· The Mineral Resource now circa three times larger than initial 8-10Mt targets for the Northern Syncline deposit.

I can see a considerable broker target upgrading incoming here now.

The sector has definitely started to display some very positive moves when decent updates have come in.

Just need Robbie to get the party started here next with some solid updates out unlocking what should be significant upside value as the company continues to deliver against its growth ambitions.

Silly price at present for the gold held under licence, the inventoey stocpiled and the growing exploration zone and resource base, but not complaining as it has allowed me to add some more here on the cheap ahead of all the updates due.

GLA

Extracts from the First Equity research note

Opinion & Recommendation
We have used the NPV8 of $317m from the Orom-Cross PEA to determine a risked
based valuation by deducting 40% for development/resource risk, 60% for finance
risk and 25% for country risk to arrive at an estimated $57.1m (£43m) value.

This equates to a price per share for Blencowe of 27p and FEQ’s share price target.

Work is now underway on the Pre-Feasibility (PFS) study conducted by an independent consultant, which is also to include an upgraded JORC resource statement.

This may improve the current project NPV numbers and help us reduce the development/resource risk parameters in our calculations to thereby improve the price target valuation.

We may also learn if progress is being made in securing off-take partners, which would help in lowering our finance risk factor.

We believe a significant market re-rating awaits Blencowe Resources, as investors begin to appreciate the size and scale of the low-cost project being developed and its
importance in feeding the EV market with essential battery grade graphite.

For these reasons and those outlined above, we recommend the shares as a ‘Buy’ and suggest
investors position themselves in the stock.

Anyone who can read a chart and understands anything about the regular mandatory updates to the ministry of mines due to land ahead of project financing closure will know this is now just at the start of a major breakout rally.

Momentum is well and truely embedded here

This has 'drifted' up 50% in the past month and that was whilst clearing a 5m overhang.

That's incredible buying strength.

Once the Webinair is up on YouTube and digested by the wider market

This will double the SP ahead of the financing updates.

5p+ buy in price for those on the sidelines who want to wait to buy in on project financing closure and 10 x bagger for anyone lucky enough to grab some early next week before this really starts to rip.

GLA

MM's with be out on the hunt for stock next week knowing they can sell it back above 5p+ on project financing closing.

Overhang cleared now, well done to all.

Back to normal trading next week and a Golden Cross is on the cards which once passed (probably on Monday) will see this catapulting toward the 1.7-1.8p range, once that gets taken down we will be in breakout mode.

Perfect timing to get that wsbinair out ahead of the Easter break as many will have more free time to view that Fantastic market update and will want in big time ahead of the finance closing.

Great way to finish the week!!

As the wider market picks up on this.

GLA

Confirmation that as soon as the mine development starts they will update the resource economic case which was previously modelled too consevatally with the price of gold at $1100 and this will be increased to reflect the present pricing.

> confirmed that the frim producing the security reports have been underway for a while and already submitted their first report and that the team are working happily at site and even if there was any set back it would be just 2or 3 weeks max.

Confirmation that even if one of the the parties to the lending syndicate chose to drop out late in the day there is more than sufficient flex in the agreement to allow the other parties to up their contribution to the deal and make up the difference to see it over the line, but that non of the lenders are dropping out and can't wait to close and also operate if far more riskier territories (mentioned Mali, DRC, baking Faso etc) so they are all very comfortable with the situation in Ethiopia as its all getting signed off now.

When asked out of 10 what are the chances of the financing closing

"10 out of 10 now"

Fantastic update.

Quoting the the guy from Mcquirie bank as " the cheapest entry into a 10 - 20 - 30 x bagger you can find anywhere IN THE WORLD!!!!

Absolutely smashing it!!

JQ alone underpinning the market cap higher than here and that's our smallest project of the 3.

The lawyers working around the clock to get this across the line

"THE PROJECT WILL CLOSE"!!!!!!

"VERY FEW THINGS LEFT TO DO"

The lenders want this done, the government wants it done, the industry wants it done and the community want it done.

A few weeks here or there to finalise all is nothing now

THE PROJECT IS CLOSING!!!!!!!!!

@LW

The Company has put out a tweet saying....

"Blencowe will host a Zoom call on Monday 11 April 2022 at 12pm (UK) where CEO, Mike Ralston will discuss the Company’s updated JORC Mineral Resource Estimate, as well as the upcoming PFS & forward strategy.

#BRES #Graphite

Registration link below:
https://us02web.zoom.us/webinar/regist

Make of that what you will, but it suggests a strong hint that an RNS is certainly due.

Whether we get an after hours, Monday 7am or intraday RNS at anytime is anyone's guess!!

I think the positive impact will also continue to feed through well into next week as many will only be able to either review the Webinar over the weekend or next week when it's been fully uploaded to YouTube etc and I suspect this will also be the case for new investors into KEFI who will be relaxing into the Easter holiday period and seeking out multibagger opportunities like this at their leisure.

Yes no doubt the same well known naysayers might try and pop back in here to reminds us how utterly deeply fragile their own belief in their investment is. Lol.

The reality is, that If progress in the field remains on track and the work with the contractors is continuing uninterrupted this is a huge step forward to meeting the outstanding conditions president to see out the closure or the project finance.

KEFI also will need to prepare the next mandatory update ro the ministry of Mines and I'm personally looking forward to hearing more about the rapidy expanding gold system in Saudi.

He is a Diplomat nowadays and certainly has an impressive CV and background

"His corporate experience spans over 10 years working at tech companies IBM and Lenovo, where he worked as Territory Manager for Eastern Africa. His sterling work received a special mention by IBM at the New York Stock Exchange for delivering a successful growth strategy in Ethiopia."



"Ambassador Kazungu is a Bachelor of Science graduate in Information Technology from Moi University in Kenya. He also holds a Master of Arts Degree in Diplomacy and Foreign Policy from the same university."


I like to see these types of appointments to a BoD as it's not just their experience that will help strengthen the BoD but as you rightly point out their diplomatic and political contacts will undoubtedly be incredibly useful when needed to be called upon.

For those that aren't aware, our contractors are also working on and have successfully delivered mine projects for the likes of Newmont, Barrick Gold , Anglogold, BHP and our regional neighbours like Centamin.

We have engagement Perenti Group, The Aussie mining specialist and for the plant design, supply and construction contracts are with Lycopodium.

Well worth looking into these tier1 mining developers to see the quality of their projects globally.

Been in this situation before when the MM's want all the available stock ahead of updates so they can sell it back to the market at much higher levels

Either keep trying, place Negotiated trades or ring your broker and ask them to get you a live price in the market.

GLA

The MM's are accumulating.

So you are in a battle with them to load up

GLA

Agree

Massively undervalued at present where the SP doesn't anywhere near reflect the underlying business.

Hoping for some nice drill results ultimately contributing towards a resource upgrade in the region of the 2Moz+ of gold target

If you check the RNS you will find the last couple of reports.

The rest are all easy to find with a quick Google search