Blencowe’s Beehive Discovery Delivers Standout Graphite Intercept at Uganda’s Orom-Cross

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

Blencowe Resources has reported an exceptional first deep-hole assay from the newly identified Beehive deposit at its Orom-Cross graphite project in Uganda, with Hole L238B returning 92.55 metres true width at 6.83% total graphite content from surface, including several high-grade intervals. The result, the first of more than 100 holes drilled at Beehive and part of a broader 182-hole programme across Beehive and the nearby Iyan deposit, confirms thick, continuous, near-surface graphite mineralisation and significantly boosts confidence in the scale and continuity of this new discovery within the existing mining licence. Management says the drilling campaign is expected to materially expand the mineralised footprint and underpin an updated JORC resource, enhancing Orom-Cross’s credentials as a large, scalable graphite project at a time of rising Western demand for long-life, ex-China supply. Following a recent £3m fundraise and completion of a definitive feasibility study, Blencowe reports it is well funded to sustain drilling, resource growth and early project implementation while advancing talks with potential strategic and offtake partners into 2026.

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 London-listed natural resources company focused on developing the Orom-Cross graphite project in Uganda. The project targets high-quality, near-surface graphite deposits within an existing mining licence, aiming to supply growing global demand for critical battery and industrial materials, particularly from Western markets seeking supply alternatives to China.

Average Trading Volume: 5,298,825

Technical Sentiment Signal: Buy

Current Market Cap: £30.91M

Learn more about BRES stock on TipRanks’ Stock Analysis page.