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Blencowe Resources Plc
(LSE:BRES)
Blencowe Resources Plc (BRES) vs. iShares MSCI United Kingdom ETF (EWC)
Blencowe Resources Plc Business Overview & Revenue Model
Blencowe Resources Plc Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.54M | -1.54M | -916.66K | 0.00 | -686.00K | -649.00K |
| Net Income | -1.58M | -1.58M | -962.00K | -1.40M | -1.08M | -695.00K |
Balance Sheet | ||||||
| Total Assets | 11.74M | 11.74M | 7.74M | 7.77M | 7.05M | 5.44M |
| Cash, Cash Equivalents and Short-Term Investments | 868.28K | 868.28K | 114.69K | 129.85K | 346.99K | 93.29K |
| Total Debt | 1.00M | 1.00M | 929.14K | 818.91K | 823.85K | 887.56K |
| Total Liabilities | 1.50M | 1.50M | 1.95M | 1.90M | 1.15M | 1.17M |
| Stockholders Equity | 10.24M | 10.24M | 5.79M | 5.87M | 5.90M | 4.27M |
Cash Flow | ||||||
| Free Cash Flow | -4.23M | -1.85M | -3.59M | -1.53M | -2.19M | -1.45M |
| Operating Cash Flow | -1.85M | -1.85M | -741.11K | -817.11K | -767.22K | -476.10K |
| Investing Cash Flow | -1.41M | -1.41M | -59.04K | -713.85K | -1.42M | -976.08K |
| Financing Cash Flow | 4.02M | 4.02M | 784.99K | 1.31M | 2.44M | 1.34M |
Blencowe Resources Plc Technical Analysis
Blencowe Resources Plc Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £17.33M | ― | ― | ― | ― | ― | |
52 Neutral | £38.24M | -12.91 | -7.78% | ― | ― | -19.57% | |
50 Neutral | £37.23M | -14.07 | -6.07% | ― | ― | 76.92% | |
50 Neutral | £18.77M | -1.37 | -35.54% | ― | ― | ― | |
42 Neutral | £12.31M | -0.31 | -481.01% | ― | ― | -0.59% |
Blencowe Resources Plc Corporate Events
Blencowe Resources reported its audited annual results for the year ended 30 September 2025, posting a total comprehensive loss of £1.41m as it continues to invest in advancing the Orom-Cross graphite project towards production, and confirmed that its Annual Report and notice of AGM have been made available to shareholders. Over the past year the company completed the Definitive Feasibility Study for Orom-Cross, secured initial offtake agreements covering its first production phase and progressing towards the second, advanced downstream plans via a partnership with a major spheronised purified graphite producer to build a beneficiation plant near the mine, strengthened funding prospects through a US$5m technical assistance grant from the US International Development Finance Corporation, and significantly expanded and de-risked the resource base through its largest drilling campaign to date, underscoring Orom-Cross’s potential as a large-scale, low-cost graphite supplier into growing global battery markets.
Blencowe Resources has signed a Letter of Intent with Italian specialist processor Alkeemia S.P.A. to toll treat and purify graphite from its Orom-Cross project in Uganda at a new plant in Italy, providing an alternative, cleaner downstream route to conventional Chinese processing and enabling production of 99.99% purity graphite for high-value niche markets. The agreement, initially allocating up to 1,000 tonnes per year with scope to scale, is intended to de-risk Blencowe’s downstream strategy, support access to European offtakers and funding by establishing a non-China, locally processed and traceable supply chain, and strengthen its role within European-aligned graphite supply networks; separately, the company issued 500,000 new shares and 1,000,000 options to consultant Minex, bringing total voting rights to 477,795,645 shares on admission to trading in London.
Blencowe Resources has reported that purification testwork carried out by Italian specialist Alkeemia S.P.A. has upgraded all Orom-Cross graphite concentrates to 99.99% carbon content, a rare “four-nines” purity that exceeds typical lithium-ion battery requirements and meets the stringent standards for defence, nuclear and specialist energy uses. The successful European-based, non-Chinese purification route, using a cleaner and less toxic process than conventional Chinese methods, significantly strengthens Orom-Cross’s strategic value, enhances Blencowe’s access to higher-margin, supply-constrained markets, and supports ongoing discussions on offtake, funding and potential commercial collaboration with Alkeemia and other downstream customers in Europe and North America.
Blencowe Resources has announced that Oak Securities has initiated research coverage on the company, publishing a note that reviews its Orom-Cross Graphite Project in Uganda and recent operational milestones. The research highlights completion of a Definitive Feasibility Study outlining a staged development plan with an initial 15-year mine life based on only a small part of the licence area, low projected operating costs, and exposure to value-added graphite products. It also notes the company’s expanding resource base following drilling at the new Iyan and Beehive deposits, where thick, continuous graphite mineralisation has been intersected and further assay results are expected to feed into an updated JORC Resource. Blencowe is simultaneously advancing funding discussions with strategic, institutional and development finance partners as it moves the project toward construction and eventual production.
Blencowe Resources has reported further strong drilling results from the newly discovered Beehive deposit at its Orom-Cross graphite project in Uganda, with two deep holes delivering thick mineralised intervals of around 90–95 metres and multiple high-grade zones from near surface and remaining open at depth. The new data, together with prior results at Beehive and nearby deposits such as Iyan, Northern Syncline and Camp Lode, reinforce Orom-Cross as a potentially large, continuous graphite system capable of supporting multi-decade production, strengthening the project’s appeal to strategic and institutional investors as the company awaits assay results from over 180 additional shallow holes and progresses funding discussions for what it positions as a globally competitive, low-cost graphite development.
Blencowe Resources Plc has issued 12,000,000 new ordinary shares as DFS Performance Shares, following the vesting of its Definitive Feasibility Study-related performance options completed and published on 1 December 2025. These new shares, which are subject to a 12-month lock-up for all holders, will be admitted to trading on the Equity (Transition) segment of the London Stock Exchange’s main market on 12 January 2026, increasing the company’s issued share capital to 477,295,645 ordinary shares and slightly diluting existing shareholders while aligning key directors and consultants more closely with the company’s long-term performance through enlarged equity stakes.
Blencowe Resources Plc has announced the exercise of 625,000 warrants at 6p each, raising £37,500 in new funds and prompting the issue of an equivalent number of new ordinary shares. The company will seek admission of these 625,000 new shares to trading on the Main Market of the London Stock Exchange on 12 January 2026, increasing its total issued share capital to 465,295,645 ordinary shares, all carrying voting rights, which slightly dilutes existing shareholders but enhances liquidity and provides a new reference figure for regulatory disclosure thresholds.
Blencowe Resources Plc announced that 1,000,000 warrants have been exercised at an exercise price of 6.5p, raising £65,000 in new funds for the company and resulting in the issuance of 1,000,000 new ordinary shares. The company will seek the admission of these new shares to trading on the Main Market of the London Stock Exchange on 8 January 2026, after which its enlarged share capital will comprise 464,670,645 ordinary shares, all carrying voting rights, providing investors with updated information for calculating their notifiable shareholdings under FCA transparency rules.
Blencowe Resources has issued 12 million new ordinary shares following the vesting of its DFS Performance Options, triggered by the completion and publication of the company’s Definitive Feasibility Study on 1 December 2025. The new DFS Performance Shares, which are subject to a 12‑month lock-up, are being allocated largely to directors and key consultants, modestly increasing their equity stakes and aligning management incentives with long-term project success. Admission of these shares to trading on the London Stock Exchange’s main market is expected on 9 January 2026, taking Blencowe’s enlarged issued share capital to 475,670,465 ordinary shares, a change that slightly dilutes existing shareholders but clarifies the new capital and voting base for regulatory disclosure purposes.
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.
Blencowe Resources Plc has confirmed significant new graphite deposits at the Iyan site adjacent to the existing Northern Syncline deposit in its Orom-Cross project. Assay results from deep drilling at Iyan show thick, continuous mineralisation with high-grade zones, supporting the potential for multi-decade production well beyond the current 15-year mine life defined in the DFS study. With results from 186 shallow and step-out assays also pending, an upgraded JORC Resource is expected in early 2026, further bolstering the project’s scale and strategic significance globally.
Blencowe Resources Plc has announced the exercise of 9,066,667 warrants, resulting in the issuance of new ordinary shares and raising approximately £494,000. The company has raised a total of £1,254,000 from warrant exercises since October 2025, and these new shares will be admitted to trading on the London Stock Exchange on December 22, 2025. This move will increase the company’s total voting rights to 463,670,645, potentially impacting shareholder interest calculations under FCA rules.
Blencowe Resources Plc has announced promising results from its first deep hole drilled at the newly identified Iyan deposit within the Orom-Cross project, revealing continuous high-grade graphite mineralization from near the surface to approximately 100 meters. This discovery suggests a potential expansion of resources and supports the project’s long-term scale, enhancing its position as a significant graphite deposit globally. The results indicate operational synergies with the nearby Northern Syncline and suggest a larger mineralized system, potentially increasing the company’s resource base and supporting future updates to the JORC Resource.
Blencowe Resources Plc has successfully raised £3 million through the placement of new ordinary shares, following the completion of its Definitive Feasibility Study for the Orom-Cross graphite project. This funding will support the company’s transition into the financing and development phase, providing operational flexibility and aiding in project readiness. The funds will be used to advance the project towards production readiness, support ongoing commercial discussions, and secure necessary personnel and capabilities. This financial boost strengthens Blencowe’s position in the industry, enhancing its access to capital and strategic partners, and positioning the Orom-Cross project for further development.
Blencowe Resources Plc has signed a non-binding Memorandum of Understanding with Yunasko Ltd. for the supply of purified medium flake graphite from its Orom-Cross Graphite Project. This agreement highlights the demand for Blencowe’s high-quality graphite in advanced energy storage applications, particularly in the defense and industrial sectors. The MOU marks a significant step in Blencowe’s strategy to secure diversified sales agreements ahead of its first production, enhancing its market position and credibility. The collaboration with Yunasko, a leader in ultracapacitor technologies, is expected to strengthen Blencowe’s presence in the global energy storage market.
Blencowe Resources Plc has announced the exercise of 1,000,000 warrants at an issue price of 4.5p, resulting in the receipt of £45,000. The company will issue 1,000,000 new ordinary shares, which are set to be admitted to trading on the London Stock Exchange’s Main Market on December 12, 2025. This move will increase the company’s total voting rights to 411,746,838 ordinary shares, potentially impacting shareholder calculations regarding their interests in the company.
Blencowe Resources Plc has announced the exercise of 1,416,666 warrants, resulting in the issuance of new ordinary shares and raising approximately £75,000. These shares will be admitted to trading on the London Stock Exchange, increasing the company’s total voting rights to 410,746,838 shares. This move is likely to enhance the company’s market presence and provide additional capital for its operations.
Blencowe Resources Plc announced that its Executive Chairman Cameron Pearce and CEO Mike Ralston have exercised their share options, resulting in proceeds of approximately £240,000 for the company. This exercise of options increases their respective holdings and contributes to the company’s capital, with 4,000,000 new ordinary shares set to be admitted to the London Stock Exchange, reflecting a strategic move to enhance shareholder value and market position.
Blencowe Resources Plc has released an updated corporate presentation detailing the results of their Definitive Feasibility Study (DFS) for the Orom-Cross graphite project, confirming it as a Tier-1 project with a US$1.1 billion NPV10 and 96% IRR. The presentation outlines a scalable development pathway and highlights further growth potential, with additional drilling results expected in early 2026. This update positions Blencowe strongly within the graphite industry, providing a robust technical and commercial foundation for future expansion.
Blencowe Resources Plc has announced the completion of a Definitive Feasibility Study (DFS) for its Orom-Cross graphite project in Uganda, highlighting strong economic potential with a Net Present Value of US$1.087 billion and an Internal Rate of Return of 96%. The study outlines a phased production strategy, starting with a smaller-scale operation in 2027, and plans for significant expansion funded by internal cash flow. This positions Orom-Cross as a key player in the graphite market, particularly as a supplier of high-specification purified graphite outside of China, meeting growing global demand.
Blencowe Resources Plc has announced a significant upgrade to its JORC Mineral Resource and Ore Reserve Statement for the Orom-Cross Graphite Project in Uganda. This update includes a substantial increase in ore reserves and indicated resources, enhancing the project’s potential as a large-scale, long-life, low-cost graphite source. The upgrade comes at a critical time for the graphite sector, as global demand for secure, non-China supply is rising. The updated reserves are expected to boost financing momentum for the project’s development, with a Definitive Feasibility Study (DFS) set to be released soon, further solidifying the project’s economic and technical foundations.
Blencowe Resources Plc has published a Prospectus for issuing 11,142,265 New Ordinary Shares, resulting from the exercise of warrants and shares issued to advisers. This move refreshes the company’s headroom under prospectus rules, allowing future warrant exercises. The company has raised £937,500 from warrant exercises since October 2025. The new shares will be admitted to trading on the London Stock Exchange, increasing the total voting rights to 405,330,172. This development enhances Blencowe’s market positioning and provides stakeholders with updated share capital information.
Blencowe Resources Plc announced the exercise of 1,999,999 warrants at an issue price of 4.5p each, resulting in approximately £90,000 in proceeds. This brings the total raised through warrant exercises since October 2025 to £640,000. The company will apply for these new shares to be admitted to trading on the London Stock Exchange’s Main Market. Upon admission, the company’s share capital will consist of 394,187,907 ordinary shares, impacting shareholder voting rights and potentially influencing market perceptions of the company’s financial health.
Blencowe Resources Plc has announced the exercise of 1,666,666 warrants at an issue price of 4.5p each, resulting in the receipt of £75,000. This move is part of a larger capital raising effort that has generated approximately £550,000 since October, which will support ongoing workstreams and enhance the company’s position as it finalizes the DFS and advances project financing discussions. The company will apply for the new shares to be admitted to trading on the London Stock Exchange, which will increase its total voting rights to 392,187,908 shares.
Blencowe Resources Plc announced its participation in the Resourcing Tomorrow Conference in London, where it will discuss the progress of its Orom-Cross Graphite Project. The company is nearing the completion of its Definitive Feasibility Study, which will provide a finance-ready plan for the project, and is actively engaging in financing discussions with potential partners. This conference serves as a platform for Blencowe to showcase its project and accelerate partnerships, positioning the company for future development and growth in the critical minerals sector.
Blencowe Resources Plc has announced significant progress in advancing its Orom-Cross Graphite Project in Uganda, with a focus on de-risking and enhancing project value. The company is nearing completion of a Definitive Feasibility Study (DFS) and expects a JORC Resource & Reserve update soon, which will confirm a larger reserve base and finance-ready operating plan. The project is strategically positioned with exclusive supplier status to EU SAFELOOP and collaboration with the US DFC, enhancing its global market positioning. Recent drilling results and new discoveries at the project sites further bolster its potential, with expectations of increased project value through in-country purification of graphite.