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Pin to quick picksBlencowe Resources Regulatory News (BRES)

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Publication of a Prospectus

10 Dec 2021 15:35

RNS Number : 3321V
Blencowe Resources PLC
10 December 2021
 

10 December 2021

Blencowe Resources Plc

 

("Blencowe" or the "Company")

 

Publication of Prospectus and Admission to Trading

 

Blencowe is pleased to announce that its prospectus has been approved by the Financial Conduct Authority (the 'FCA') and published today by the Company (the 'Prospectus'). The Prospectus relates to the admission of Placing Shares and Subscription Shares in connection with the £2,000,000 fundraise announced on 12 November 2021.

 

The Company will admit a total of 40,000,000 new ordinary shares to the standard listing segment of the Official List of the FCA and to trading on the Main Market for listed securities of the London Stock Exchange at 8.00 a.m. on 15 December 2021 ("Admission"). The new ordinary shares consist of 29,100,000 Placing Shares and 10,900,000 Subscription Shares. The Placing and the Subscription are conditional, inter alia, on Admission.

 

Further information is set out in the Prospectus, which can be accessed electronically from the Company's website at www.blencoweresourcesplc.com.

 

Unless otherwise defined herein, terms defined in the Prospectus have the same meanings herein.

 

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the Company confirms that, following Admission, its issued share capital will comprise 161,929,950 Ordinary Shares, each of which carries the right to vote, with no Ordinary Shares held in treasury. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the DTRs

 

Cameron Pearce, Chairman of Blencowe Resources Plc commented:

 

"We are delighted to publish the prospectus and close the transaction to raise £2m. This provides the Company with a firm foundation to continue developing Orom-Cross graphite project and 2022 should be transformational for the Company. I would like to thank our shareholders, both old and new, and to wish everyone a happy xmas from the Blencowe team.

 

For further information, please contact:

 

Contact details:

 

Blencowe Resources Plc

Sam Quinn

 

 

 

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

Investor Relations

Sasha Sethi

 

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

Jason Robertson

 

 

Tel: +44(0)20 7330 1883

jasonrobertson@firstequitylimited.com

 

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/

 

Sign up for our news: http://eepurl.com/hxc9vn

 

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 es mated 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.

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PDIEBLFFFLLXFBZ
Date   Source Headline
12th Nov 20218:33 amRNSOver-Subscribed £2m Capital Raise
4th Oct 20217:00 amRNSCorporate Presentation
29th Sep 20217:00 amRNSOrom Cross PEA
20th Sep 20217:00 amRNSOrom Cross Update
17th Sep 20219:19 amRNSTR-1: Standard form notification of major holdings
16th Aug 20217:00 amRNSSecond Drilling Program at Orom-Cross Project
20th Jul 20212:01 pmRNSInvitation to Webinar
14th Jul 20217:00 amRNSIssue of Equity
13th Jul 20217:34 amRNSResults of Metallurgical Test Work
5th Jul 20217:00 amRNSDrill Program Ahead of Schedule
24th Jun 20214:00 pmRNSTR-1: Standard form notification of major holdings
2nd Jun 20219:54 amRNSHalf-year Report
1st Jun 20217:00 amRNSTR-1: Standard form notification of major holdings
24th May 20217:00 amRNSMetallurgical Test Work
19th May 202111:34 amRNSUpdated Corporate Presentation
14th May 202112:00 pmRNSTransaction in Shares
4th May 20217:00 amRNSStage Two Drilling Program Commences
29th Apr 20212:12 pmRNSDirector/PDMR Shareholding
26th Apr 20211:26 pmRNSHolding(s) in Company
13th Apr 20217:30 amRNSInvestor Webinar
13th Apr 20217:00 amRNSMaiden JORC Mineral Resource
7th Apr 20212:30 pmRNSWarrant Exercise
31st Mar 202110:08 amRNSResult of AGM
24th Mar 202111:30 amRNSWarrant Exercise
8th Mar 20214:30 pmRNSNotice of AGM
1st Mar 20217:00 amRNSDrilling Results
12th Feb 20217:00 amRNSTR-1: Standard form notification of major holdings
8th Feb 20212:12 pmRNSWarrant Exercise
8th Feb 20217:07 amRNSDrilling Results at Camp Lode
26th Jan 20217:00 amRNSAnnual Financial Report
22nd Jan 20211:07 pmRNSInvestor Conference Call
18th Jan 20217:00 amRNSPlacing to Raise £500,000
16th Dec 20207:00 amRNSPlacing to Raise £300,000
9th Dec 20209:52 amRNSTR-1: Standard form notification of major holdings
1st Dec 202011:01 amRNSBlock Listing Application Update
27th Nov 202012:11 pmRNSBlock Listing Application Update
26th Nov 20207:16 amRNSJORC Resource Update
25th Nov 20201:59 pmRNSBlock Listing Application & Issue of Equity
23rd Nov 20207:00 amRNSDirector Warrant Exercise and Purchase of Shares
5th Nov 20207:00 amRNSPublication of New Research Note
14th Oct 20202:07 pmRNSHolding(s) in Company
14th Oct 20207:21 amRNSHolding(s) in Company
14th Oct 20207:20 amRNSHolding(s) in Company
13th Oct 202010:21 amRNSHolding(s) in Company
9th Oct 20204:03 pmRNSTR-1: Standard form notification of major holdings
7th Oct 20209:47 amRNSTR-1: Standard form notification of major holdings
6th Oct 202012:59 pmRNSIssue of Equity
21st Sep 20207:00 amRNSSamples Sent for Assay to Deliver Maiden Resource
18th Aug 20207:00 amRNSTR-1: Standard form notification of major holdings
17th Aug 202010:22 amRNSUpdated presentation on the company website

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