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Blencowe Resources Plc ( (GB:BRES) ) has provided an announcement.
Blencowe Resources Plc announced progress on its 7,000-meter drilling program at the Orom-Cross project, aimed at significantly increasing JORC Resources and Reserves. The drilling is expected to position the project for higher production levels and a longer mine life. Recent site visits by Ugandan and EU officials highlight potential funding support, enhancing Blencowe’s strategic positioning in the graphite market, particularly with the EU’s SAFELOOP initiative. The successful completion of geotechnical drilling marks a critical step in expanding the Definitive Feasibility Study, with infill and step-out drilling phases to follow.
More about Blencowe Resources Plc
Blencowe Resources Plc operates within the mining industry, focusing primarily on graphite extraction and development. The company is advancing its operations at the Orom-Cross graphite project in Uganda, which is noted for its high-quality, large flake graphite. Blencowe is working towards enhancing its resource base and production capabilities, with strategic partnerships aimed at producing high-grade spherical graphite.
YTD Price Performance: 5.33%
Average Trading Volume: 472,494
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £11.66M
For detailed information about BRES stock, go to TipRanks’ Stock Analysis page.
