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Blencowe Resources Plc ( (GB:BRES) ) has issued an update.
Blencowe Resources has reported a maiden JORC 2012 mineral resource estimate for the Beehive deposit at its 100%-owned Orom-Cross graphite project in Uganda, adding 21.3Mt at 6.58% total graphitic carbon and lifting total project resources to 64.3Mt at 6.03% TGC across four deposits. The upgrade underscores Orom-Cross as a multi-deposit, long-life development, with mineralisation remaining open along strike and at depth and the current Beehive model covering only about 22% of the target anomaly, indicating significant further growth potential.
The larger resource base, achieved at a conversion cost of under US$10 per tonne, is feeding into ongoing definitive feasibility study optimisation work that will integrate the expanded inventory and evolving downstream processing options. Blencowe is simultaneously advancing strategic offtake and funding discussions, suggesting the enhanced scale and low-cost profile of Orom-Cross could strengthen its position with potential partners and support the transition from resource growth to project development.
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 UK-listed mineral exploration and development company focused on the Orom-Cross graphite project in Uganda. The project targets large-scale, near-surface graphite deposits suitable for open-pit mining, positioning the company to supply graphite for industrial uses, including the growing battery and energy storage markets.
Average Trading Volume: 4,210,096
Technical Sentiment Signal: Buy
Current Market Cap: £38.72M
See more insights into BRES stock on TipRanks’ Stock Analysis page.