REG - Blencowe Resources - Completion of Orom-Cross DFS Programmes

Blencowe ResourcesAnnouncement

22/08/2025 07:00

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RNS Number : 3411W  Blencowe Resources PLC  22 August 2025

Date: 22 August 2025
 

 

Blencowe Resources Plc

("Blencowe" or the "Company")

 

 

Completion of Orom-Cross DFS Programmes

Major workstreams complete, positioning DFS for successful delivery

 

Blencowe Resources Plc (LSE: BRES) is pleased to provide an update on progress
within the Definitive Feasibility Study ("DFS") at its Orom-Cross graphite
project in Uganda. The Company has now completed all major infrastructure
workstreams within the Definitive Feasibility Study ("DFS") alongside the
recent drilling campaign, which was the largest in the Company's history.
This drill programme was designed to increase the mineable reserves base as
well as explore a new deposit and it exceeded expectations.

Much of this DFS work also fed into milestones set by the US International
Development Finance Corporation ("DFC") for grant funding, further validating
Orom-Cross as a world-class graphite project.  DFC has input US$4.75 million
to date of the total US$5.0 million total grant funds with the remainder due
on DFS completion.

 

DFS Infrastructure Progress

Power:

Two separate substations on either side of Orom-Cross will provide access to
abundant hydropower from Uganda's national grid, ensuring both low-cost
renewable energy and redundancy.

This positions Orom-Cross as a future supplier of "green graphite" with strong
ESG credentials which is a key requirement for battery offtakers.

Roads:

A UK Government-sponsored programme is underway to upgrade, widen and seal the
Kitgum-to -Kidepo road that passes nearby the project, with a major
intersection designed to provide direct access to Orom-Cross.

Once completed, the route from site to Kenyan port access will be fully
sealed, providing a significant long-term logistics advantage, particularly
when Orom-Cross scales up.

Other Infrastructure:

Water, communications and camp facilities are all currently being established,
with rail access from Gulu being considered as an option ahead. Together all
these factors reduce upfront capital intensity and accelerate the pathway to
production.

The first permanent camp is being constructed at Orom-Cross with a view to
providing initial accommodation for the first production phase ahead.

 

DFS and Upcoming Catalysts

Orom-Cross PFS delivered one of the lowest capital cost estimates to bring any
significant new graphite project into production worldwide, and the DFS is
expected to deliver a similarly positive result. This advantage stems from all
major infrastructure required for mine start-up already being available and
close to site including roads, power, water and communications. The result is
threefold: substantial upfront capital cost savings, shorter timelines to
reach first production and substantially less debt to service and repay over
life of mine.

The Company has also provided detailed reports to the US International
Development Finance Corporation (DFC) demonstrating how this infrastructure
can be fully operational for start-up, further validating Orom-Cross as a
low-cost, fast-to-market project with unique logistics and ESG credentials.

In parallel, following further guidance from the laboratories, first assay
results from the 6,750m drilling programme are expected shortly. These results
will underpin what is anticipated to be a material upgrade to the JORC
Resource, reflecting the exceptional drill campaign that has already indicated
both extended mineralisation and a brand new graphite deposit nearby at
Beehive.

 

Cameron Pearce, Executive Chairman commented:

"Completing the infrastructure workstream is a major de-risking milestone for
Orom-Cross. Having hydro-grid power, water, communications and upgraded road
access effectively in place translates into lower capex, shorter development
timelines and a sustainable, ESG-compliant operation.

We are also very encouraged by progress on the UK Government-backed road
programme, which will deliver sealed access to site and provide a significant
logistics advantage as Orom-Cross scales into production.

Our DFS is progressing well, and we look forward to showcasing something
special. We anticipate being able to update the market on a completion date in
the near future following the delivery of remaining technical work.

In the meantime, we have received guidance that the first assays from our
drilling programme are expected shortly, feeding into what we expect to be a
material uplift to the JORC Resource. With DFS, assays, JORC and further
offtake developments all ahead, we believe Orom-Cross is on the cusp of a
major value inflection."

 

 

 

 

 

 

 

 

 

 

 

 

For further information please contact:

   Blencowe Resources Plc    www.blencoweresourcesplc.com

 Sam Quinn                   Tel: +44 (0)1624 681 250

                             info@blencoweresourcesplc.com (mailto:info@blencoweresourcesplc.com)

 Investor Relations          Tel: +44 (0) 7891 677 441

 Sasha Sethi                 sasha@flowcomms.com (mailto:sasha@flowcomms.com)

 Tavira Financial            Tel: +44 (0)20 3192 1733

 Jonathan Evans              jonathan.evans@tavira.group (mailto:jonathan.evans@tavira.group)

Twitter https://twitter.com/BlencoweRes (https://twitter.com/BlencoweRes)

LinkedIn https://www.linkedin.com/company/72382491/admin/
(https://www.linkedin.com/company/72382491/admin/)

 

 

Background

 

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and
end-product quality, with a high component of more valuable larger coarse
flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government
in 2019 following extensive historical work on the deposit.  Blencowe has
already completed a successful Pre-Feasibility Study on the Project and is now
within the final stage of the Definitive Feasibility Study phase as it drives
towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with an initial
JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total
Graphite Content). This Resource has been defined from only ~2% of the total
tenement area which presents considerable upside potential ahead.
Development of the resource is expected to benefit from a low strip ratio and
free dig operations together with abundant inexpensive hydro-electric power
off the national grid, thereby ensuring low operating costs.  With all major
infrastructure available at or near to site the capital costs will also be
relatively low in comparison to most graphite peers.

 

 

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