Blencowe Extends High-Grade Beehive Graphite Discovery at Orom-Cross

Blencowe Resources Plc ( (GB:BRES) ) just unveiled an update.

Blencowe Resources has reported further strong assay results from 36 shallow drill holes at its new Beehive graphite deposit, part of the Orom-Cross project in Uganda. The latest batch confirms thick, near-surface mineralisation with multiple 30 metre-plus intercepts and grades frequently above 5% total graphitic carbon, extending the northern and western footprint of the discovery.

These results reinforce Beehive’s potential as a bulk-mineable, high-grade graphite source and support work towards a maiden JORC Mineral Resource, targeted for the second quarter of 2026. Together with the recently defined Iyan resource, Beehive is expected to materially increase Orom-Cross’s overall tonnage, strengthening the project’s role in underpinning non-Chinese graphite supply chains and supporting Blencowe’s ongoing strategic and funding discussions.

Spark’s Take on BRES Stock

According to Spark, TipRanks’ AI Analyst, BRES is a Neutral.

The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and negative operating/free cash flow that worsened in 2025). Technicals also lean bearish/weak with the share price below key short-term averages and subdued momentum indicators. Valuation is difficult to support using earnings due to the negative P/E, offering limited offset.

To see Spark’s full report on BRES stock, click here.

More about Blencowe Resources Plc

Blencowe Resources Plc is a London-listed mineral exploration and development company focused on the Orom-Cross graphite project in Uganda. The project targets large-scale, near-surface graphite resources aimed at supplying western markets seeking secure, non-Chinese sources of critical battery and industrial minerals.

Average Trading Volume: 4,787,087

Technical Sentiment Signal: Buy

Current Market Cap: £43.67M

See more insights into BRES stock on TipRanks’ Stock Analysis page.