Undervalued stock17 Feb 2022 08:16
"We are absolutely delighted to share these exceptional metallurgical test results for Orom-Cross. They highlight the fact that we have a very high quality of end products that we will produce, which should not only be in higher demand but should also deliver higher prices. In all facets these results have exceeded our expectations and they underline the world class potential of Orom-Cross.
Our ongoing drilling programs recently delivered our first 16Mt JORC Resource which we are in the process of upgrading via 2,000m further infill drilling, and we know that we have literally billions of tonnes of graphite at Orom-Cross which we can continue to develop as and when required. Now our metallurgical test results have added considerable weight to this by showing what an impressive range of end products we can deliver. The next step is to engage in more detail with strategic groups that have been waiting for the test work result and to begin reviewing the project economics of the mine.
Orom-Cross continues to emerge as a world class graphite project in a safe location. As we begin to outline the economics of Orom-Cross the full potential of what can be achieved will become abundantly clear."
Tier one and world class continually repeated in BRES RNSs
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger flakes within the deposit. A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe is moving into the studies phase shortly as it drives towards first production.
Orom-Cross presents as a large, shallow open pitable deposit, with an estimated overall resource between 2-3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations thereby ensuring lower operating and capital costs.
8.71mil mcap?
317mil NPV before 25% expansion of tonnage, and 33% grade lift - proactive giving a 27p target before expansion, expansion will take it 40-44p
Compaire current NPV and mcap to other mines to see how stupidly undervalued bres is
In discussions with offtakers
Graphite prices will continue to rise
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