Blencowe’s Orom-Cross Iyan Drilling Confirms Thick Near-Surface Graphite as Funding Talks Progress

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

Blencowe Resources has reported initial assay results from its Stage 7 shallow drilling campaign at the newly discovered Iyan deposit, part of the Northern Syncline system at the Orom-Cross graphite project in Uganda. Results from 15 of 72 shallow holes confirm thick, continuous, near-surface graphite mineralisation, with multiple intercepts of around 30 metres from surface, consistent with feasibility study grade assumptions and often ending in mineralisation, indicating potential for depth extensions. The company says the Iyan deposit, already traced over roughly 1,800 metres of strike with indications of further extensions, could add significant near-surface tonnage within trucking distance of planned processing facilities, supporting resource growth, extended mine life and long-life, low-cost production. These results, alongside previously strong deep drilling, are being independently validated ahead of a resource update and are seen as strengthening Blencowe’s hand in ongoing funding and downstream offtake discussions at a time when buyers are seeking sustainable, high-grade graphite outside China.

The most recent analyst rating on (GB:BRES) stock is a Hold with a £8.50 price target. To see the full list of analyst forecasts on Blencowe Resources Plc stock, see the GB:BRES Stock Forecast page.

Spark’s Take on GB:BRES Stock

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

The score is held down primarily by weak financial performance (no revenue, recurring losses, and worsening cash burn in 2025). Technicals provide a meaningful offset with a clear uptrend (price above key moving averages) and positive momentum (MACD>0, RSI near 59). Valuation remains unattractive/unclear due to negative earnings and no dividend yield data.

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

More about Blencowe Resources Plc

Blencowe Resources Plc is a UK-listed resources company focused on developing the Orom-Cross graphite project in Uganda. The project targets large-scale, near-surface graphite deposits suitable for bulk, low-strip mining, aiming to supply high-grade, non-Chinese graphite into emerging critical mineral supply chains for battery and other industrial applications.

Average Trading Volume: 5,429,253

Technical Sentiment Signal: Buy

Current Market Cap: £39.38M

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