Blencowe Resources Secures Major Offtake Agreement with TaiDa for Graphite Sales

An update from Blencowe Resources Plc ( (GB:BRES) ) is now available.

Blencowe Resources Plc has signed a Non-Binding Offtake Agreement with Qingdao TaiDa Carbon Co Ltd for the supply of 5,000 tons per year of graphite concentrate from its Orom-Cross Graphite Project. This agreement covers 50% of the initial Phase 1 production and supports Blencowe’s strategy to double its production capacity to 10,000 tons per year by 2026. The deal enhances Blencowe’s market position by aligning with a leading graphite producer and sets the stage for future collaborations with major international buyers. The agreement also facilitates the development of an in-country SPG facility in Uganda, which will reduce costs and increase profitability by capturing downstream value.

Spark’s Take on GB:BRES Stock

According to Spark, TipRanks’ AI Analyst, GB:BRES is a Underperform.

Blencowe Resources Plc faces significant financial and operational challenges, with zero revenue, consistent losses, and negative cash flows. While recent corporate developments suggest potential future growth, the current financial instability and lack of positive technical indicators weigh heavily on the stock’s overall score.

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

More about Blencowe Resources Plc

Blencowe Resources Plc operates in the mining industry, focusing on the extraction and production of graphite. Its primary project, the Orom-Cross Graphite Project in Uganda, is a significant graphite resource known for its high-quality large flake graphite. The company is working on expanding its production capabilities to meet the growing demand in high-value markets, particularly for battery manufacturers and industrial users.

YTD Price Performance: -14.67%

Average Trading Volume: 671,494

Technical Sentiment Signal: Strong Buy

Current Market Cap: £9.15M

Find detailed analytics on BRES stock on TipRanks’ Stock Analysis page.