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LONDON - Blencowe Resources Plc (LSE:BRES) expects to deliver an updated JORC Resource & Reserve statement for its Orom-Cross Graphite Project in Uganda within approximately two weeks, followed by a Definitive Feasibility Study (DFS) in late November, according to a company statement released Friday.
The DFS will include a new downstream processing component to produce purified graphite in-country, which the company believes will significantly enhance the project's value compared to the 2022 Pre-Feasibility Study that indicated a post-tax NPV8 of $482 million.
CEO Mike Ralston highlighted the project's six key fundamentals in a recorded interview: low operating costs, low capital expenditure requirements, high-purity end product, 100% ownership, a 21-year mining license, and operation in a stable jurisdiction.
Recent drilling has confirmed continuity of high-grade, near-surface graphite across the Camp Lode and Northern Syncline deposits, supporting mine sequencing plans designed to deliver early cash flow advantages. The company also noted new discoveries at the Beehive and Lyan deposits that add further growth potential.
Blencowe has secured exclusive supplier status for natural flake graphite concentrate with the European Union's SAFELOOP initiative and maintains ongoing collaboration with the U.S. Development Finance Corporation, positioning the project within Western supply chain development strategies.
WaterBorne Capital is advancing lender-ready financial modeling to align with debt providers and strategic partners ahead of the DFS completion.
The company stated that Orom-Cross has been systematically de-risked technically, financially, and commercially as it approaches completion of key development milestones.
The information was disclosed in a press release statement that contained no new material information beyond what the company had previously disclosed.
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