Last checked at 4 Oct 2021 07:00
4 October 2021
Blencowe Resources Plc
("Blencowe" or the "Company")
Corporate Presentation
Blencowe Resources (LSE:BRES) is pleased to announce a new Corporate Presentation has been uploaded on the 'Investors' section of the Company's website (www.blencoweresourcesplc.com), incorporating information on the recently announced and highly positive Preliminary Economic Assessment.
For further information please contact:
Blencowe Resources Plc Sam Quinn
Investor Relations Sasha Sethi |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 info@blencoweresourcesplc.com
Tel: +44 (0)7891 677 441 sasha@flowscomm.com
|
Brandon Hill Capital Limited Jonathan Evans | Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com
|
First Equity Limited Tel: +44(0)20 7330 1883
Jason Robertson jasonrobertson@firstequitylimited.com
Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
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 following delivery of exceptional metallurgy test results (July 2021 and an outstanding Preliminary Economic Assessment (September 2021) Blencowe is moving into the Pre-Feasibility Study (PFS) stage as it drives towards first production.
Orom-Cross is a large, shallow open pitable deposit, with an estimated overall resource between 2-3 billion tonnes of graphite with 16.3Mt already drilled to JORC Resource standard, covering an initial 13-year life of mine. Development of the resource is expected to benefit from a low strip ratio and free dig operations thereby ensuring lower operating and capital costs.
Blencowe's Preliminary Economic Assessment (PEA) for Orom-Cross presents the project as low-cost with robust financials and the Company is confident that Project economics can improve further, notably by extending the life of mine and/or increasing the levels of production. The September 2021 PEA delivered an NPV8 of US$317M and IRR 49% with an average nameplate production of 75,000tpa graphite sold as concentrate, with ability to extend this after further drilling.