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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 | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.54M | -916.66K | 0.00 | -686.00K | -649.00K |
| Net Income | -1.58M | -962.00K | -1.40M | -1.08M | -695.00K |
Balance Sheet | |||||
| Total Assets | 11.74M | 7.74M | 7.77M | 7.05M | 5.44M |
| Cash, Cash Equivalents and Short-Term Investments | 868.28K | 114.69K | 129.85K | 346.99K | 93.29K |
| Total Debt | 1.00M | 929.14K | 818.91K | 823.85K | 887.56K |
| Total Liabilities | 1.50M | 1.95M | 1.90M | 1.15M | 1.17M |
| Stockholders Equity | 10.24M | 5.79M | 5.87M | 5.90M | 4.27M |
Cash Flow | |||||
| Free Cash Flow | -1.85M | -3.59M | -1.53M | -2.19M | -1.45M |
| Operating Cash Flow | -1.85M | -741.11K | -817.11K | -767.22K | -476.10K |
| Investing Cash Flow | -1.41M | -59.04K | -713.85K | -1.42M | -976.08K |
| Financing Cash Flow | 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 | £16.19M | ― | ― | ― | ― | ― | |
52 Neutral | £36.07M | -9.13 | >-0.01% | ― | ― | -19.57% | |
50 Neutral | £23.85M | -1.11 | -43.43% | ― | ― | ― | |
48 Neutral | £42.96M | -10.93 | -17.12% | ― | ― | 76.92% | |
42 Neutral | £90.35M | 13.30 | -76.15% | ― | ― | -0.59% |
Blencowe Resources Plc Corporate Events
Blencowe Resources has reported strong initial assay results from shallow drilling at the Beehive deposit, part of its Orom-Cross graphite project in Uganda, with multiple near-surface intercepts of over 30 metres and grades up to 10.78% total graphitic carbon. The results, which follow a recent resource upgrade at the nearby Iyan deposit, point to substantial near-surface tonnage and vertical upside, reinforcing Orom-Cross’s potential as a scalable, multi-deposit graphite system and bolstering the company’s position in critical mineral supply chains as it advances resource modelling, development planning and funding discussions.
The first 35 of 110 shallow holes at Beehive show consistent, thick mineralisation from surface and many end in graphite, supporting the prospect of a bulk-mineable deposit located close to planned processing facilities. Further assay batches are undergoing validation and are expected to underpin a maiden JORC resource for Beehive and another upgrade to the overall Orom-Cross resource base, with scope for substantial extensions along strike and at depth that could lengthen mine life and enhance project economics for prospective offtakers and investors.
The most recent analyst rating on (GB:BRES) stock is a Hold with a £9.00 price target. To see the full list of analyst forecasts on Blencowe Resources Plc stock, see the GB:BRES Stock Forecast page.
Blencowe Resources said Executive Chairman Cameron Pearce has exercised 500,000 share options at an exercise price of 6p, generating proceeds of about £30,000 for the company and increasing his total holding to 16,516,667 ordinary shares. The 500,000 new shares will be admitted to trading on the Equity Shares (Transition) segment of the LSE’s main market on 19 March 2026, taking Blencowe’s enlarged issued share capital to 485,257,367 shares and slightly diluting existing shareholders while clarifying the new denominator for regulatory disclosure thresholds.
The company confirmed it holds no shares in treasury following this option exercise, meaning all issued shares carry voting rights under the FCA’s Disclosure Guidance and Transparency Rules. This modest insider subscription underscores continued board alignment with shareholders, while the updated share count helps investors track their holdings relative to reporting triggers in the UK market abuse and transparency framework.
The most recent analyst rating on (GB:BRES) stock is a Hold with a £10.00 price target. To see the full list of analyst forecasts on Blencowe Resources Plc stock, see the GB:BRES Stock Forecast page.
Blencowe Resources has announced a maiden JORC 2012 mineral resource estimate for the newly discovered Iyan deposit at its Orom-Cross Graphite Project in Uganda, outlining 16.9 million tonnes at 6.0% total graphitic carbon in the Inferred category. The addition of Iyan lifts total Orom-Cross JORC mineral resources by 66% to 43.0 million tonnes at 5.76% TGC across the Northern Syncline, Camp Lode and Iyan deposits, all reported at a 3.5% cut-off grade.
The company highlighted that mineralisation at Iyan remains open along strike and at depth, with multiple drill holes ending in mineralisation, and that further upside is expected from the Beehive discovery once assays are incorporated into a future resource update. Management said the increased project scale, strong continuity of near-surface mineralisation and consistent metallurgy enhance development optionality and underpin ongoing strategic and funding discussions as Orom-Cross advances towards production planning.
The most recent analyst rating on (GB:BRES) stock is a Hold with a £10.50 price target. To see the full list of analyst forecasts on Blencowe Resources Plc stock, see the GB:BRES Stock Forecast page.
Blencowe Resources Plc announced that all resolutions proposed at its Annual General Meeting, held on 26 February 2026, were duly passed by shareholders. The successful approval of all AGM resolutions provides the board with a clear mandate to continue executing its corporate and operational strategy, reinforcing stability and governance support for the company’s ongoing activities.
The outcome of the meeting signals continued shareholder backing for Blencowe’s current direction and management, which may help the company pursue its project plans and potential financing initiatives with greater confidence. This level of approval can underpin the company’s positioning within the resources sector as it advances its portfolio and seeks to deliver long-term value to stakeholders.
The most recent analyst rating on (GB:BRES) stock is a Hold with a £10.50 price target. To see the full list of analyst forecasts on Blencowe Resources Plc stock, see the GB:BRES Stock Forecast page.
Blencowe Resources has reported the final batch of assay results from 87 shallow holes at the Iyan deposit within its Orom-Cross graphite project, confirming thick, laterally continuous graphite mineralisation from surface and multiple intercepts over 30 metres. The data will underpin a maiden JORC resource estimate for Iyan in Q1 2026, expected to materially increase the overall Orom-Cross resource base.
The company plans to develop Iyan as a bulk blending deposit, using its combination of bulk tonnage and higher-grade zones to optimise mine planning and support efficient, low-strip mining. Management says the results strengthen the case for a large-scale, long-life development and bolster ongoing funding and offtake discussions, while pending assays from the nearby Beehive deposit are anticipated to deliver further resource growth and reinforce Orom-Cross as a multi-deposit graphite hub.
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.
Blencowe Resources has launched a long-term incentive programme, granting 30 million share-based awards to directors and senior managers, equal to about 6.3% of its current share capital, valued for allocation purposes at £0.09 per share. The awards vest over three years subject to performance conditions, with half linked to securing P1 funding for the Orom-Cross project and immediate vesting triggered on any change of control, underscoring efforts to align management incentives with project financing milestones and potential strategic transactions.
Chairman Cameron Pearce, CEO Mike Ralston and COO Iain Wearing each receive 7 million LTIP shares, while non-executive directors and the country manager share the remainder under identical three-year vesting periods. The structure is likely to sharpen management focus on advancing Orom-Cross towards funding and development, while signalling to investors the board’s confidence in achieving key project and corporate milestones over the medium term.
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.
Blencowe Resources said recent U.S. anti-dumping and countervailing duties of about 160% on graphite active anode material imports from China, if confirmed in March and lasting at least five years, would significantly raise the cost of Chinese material into the U.S. and accelerate a policy-driven shift toward diversified, non-China graphite supply. The company argues these trade measures, alongside Western efforts to build domestic and allied processing capacity, strengthen the strategic case for its Orom-Cross project, where ongoing drilling at the Iyan and Beehive deposits, plus parallel funding and offtake talks, are aimed at positioning the Ugandan asset as a key long-term supplier to multiple high-value end markets.
Blencowe is advancing Orom-Cross as large-scale source of high-quality graphite feedstock. New U.S. tariffs on Chinese graphite are seen as boosting the project’s strategic value.
Blencowe is progressing funding and offtake discussions alongside resource growth at Orom-Cross. The firm expects further assay results and updated resource statements to support long-term development planning amid shifting global supply chains.
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.
Blencowe Resources said new test work by American Energy Technology Co. has confirmed that graphite from its Orom-Cross project can be used to manufacture synthetic industrial diamonds, with a conversion yield of 53.6wt% that surpasses the industry benchmark of about 50%. The high yield, combined with mono-crystalline diamond formation and favourable flake characteristics, suggests Orom-Cross can underpin economically viable diamond production outside China and adds another high-value outlet beyond graphite concentrates.
The results bolster Orom-Cross’s positioning as a versatile, non-China graphite source suited to both battery and industrial markets, supporting Western efforts to secure critical mineral supply chains and local processing. Blencowe said this expanded downstream optionality strengthens the project’s development case and is feeding into ongoing funding and offtake talks, while drilling and resource definition continue ahead of further JORC resource updates.
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.
Blencowe Resources has reported a second batch of assay results from 12 shallow drill holes at the Iyan deposit, part of its Orom-Cross Graphite Project in Uganda, confirming thick, near-surface graphite mineralisation with multiple intercepts over 30 metres from surface and several holes ending in mineralisation. The results reinforce Iyan’s role as a bulk blending deposit with higher-grade zones, supporting efficient low-strip mining, resource growth and scale expansion ahead of an updated JORC resource estimate expected in the first quarter of 2026, and strengthen the project’s credentials as a potential long-life supplier of critical graphite as Western markets seek diversification of supply away from China; additional results from the nearby Beehive deposit are pending and will further inform mine planning, funding and offtake discussions.
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.
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.
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.