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An announcement from Blencowe Resources Plc ( (GB:BRES) ) is now available.
Blencowe Resources has announced a maiden JORC 2012 mineral resource estimate for the newly discovered Iyan deposit at its Orom-Cross Graphite Project in Uganda, outlining 16.9 million tonnes at 6.0% total graphitic carbon in the Inferred category. The addition of Iyan lifts total Orom-Cross JORC mineral resources by 66% to 43.0 million tonnes at 5.76% TGC across the Northern Syncline, Camp Lode and Iyan deposits, all reported at a 3.5% cut-off grade.
The company highlighted that mineralisation at Iyan remains open along strike and at depth, with multiple drill holes ending in mineralisation, and that further upside is expected from the Beehive discovery once assays are incorporated into a future resource update. Management said the increased project scale, strong continuity of near-surface mineralisation and consistent metallurgy enhance development optionality and underpin ongoing strategic and funding discussions as Orom-Cross advances towards production planning.
The most recent analyst rating on (GB:BRES) stock is a Hold with a £10.50 price target. To see the full list of analyst forecasts on Blencowe Resources Plc stock, see the GB:BRES Stock Forecast page.
Spark’s Take on GB:BRES Stock
According to Spark, TipRanks’ AI Analyst, GB:BRES is a Neutral.
The score is primarily held back by weak financial performance (no revenue, ongoing losses, and deteriorating cash burn). Technicals are supportive with a strong uptrend and positive MACD, but very overbought RSI/Stoch readings raise reversal risk. Valuation remains constrained by a negative P/E and no dividend support.
To see Spark’s full report on GB:BRES stock, click here.
More about Blencowe Resources Plc
Blencowe Resources Plc is a London-listed mineral exploration and development company focused on graphite, with its flagship 100%-owned Orom-Cross Graphite Project in Uganda. The project targets large-scale, long-life graphite production, positioning the company to supply growing demand from industrial and battery markets.
Average Trading Volume: 4,905,166
Technical Sentiment Signal: Buy
Current Market Cap: £50.12M
Find detailed analytics on BRES stock on TipRanks’ Stock Analysis page.