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An announcement from Blencowe Resources Plc ( (GB:BRES) ) is now available.
Blencowe Resources Plc has completed its largest drilling campaign to date at the Orom-Cross Graphite Project, marking a significant milestone in its Definitive Feasibility Study. The Stage 7 drilling program, which covered 6,750 meters across 239 holes, aims to upgrade the JORC Resource and secure a US$5 million grant from the US International Development Finance Corporation. The campaign confirmed the presence of a new graphite zone, ‘Beehive,’ and demonstrated mineralization at depths over 100 meters, suggesting a potentially larger resource. These developments are expected to enhance the project’s value, increase processing capacity, and extend mine life, positioning Orom-Cross as a significant player in the global graphite supply chain.
Spark’s Take on GB:BRES Stock
According to Spark, TipRanks’ AI Analyst, GB:BRES is a Underperform.
Blencowe Resources Plc faces significant financial instability with zero revenue, consistent losses, and negative cash flows, which weigh heavily on the stock’s overall score. While technical indicators suggest a bearish outlook, recent corporate developments, including funding and strategic agreements, provide some potential for future growth. However, the current financial and operational challenges dominate the evaluation, resulting in a low overall stock score.
To see Spark’s full report on GB:BRES stock, click here.
More about Blencowe Resources Plc
Blencowe Resources Plc is a company operating in the mining industry, primarily focused on the development of the Orom-Cross Graphite Project in Uganda. The project is notable for its large, shallow open-pitable deposit with high-quality graphite, including a significant proportion of valuable larger flakes. Blencowe is currently in the Definitive Feasibility Study phase, aiming to advance towards production, with a 21-year mining license secured from the Ugandan Government.
Average Trading Volume: 1,461,633
Technical Sentiment Signal: Hold
Current Market Cap: £13M
For a thorough assessment of BRES stock, go to TipRanks’ Stock Analysis page.