REG - Blencowe Resources - European Processing & Offtake with Alkeemia

Blencowe ResourcesAnnouncement

23/01/2026 08:00

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RNS Number : 1522Q  Blencowe Resources PLC  23 January 2026

Date: 23 January 2026

 

Blencowe Resources Plc

("Blencowe" or the "Company"),

 

Blencowe Strengthens European Processing and Offtake Strategy with Alkeemia
LOI

EU technical expert to enable 99.99% SPG purification via cleaner, non-China
processing route

 

 

Blencowe Resources Plc (LSE: BRES) is pleased to announce it has signed a
Letter of Intent ("LOI") with European specialist graphite processing
organisation Alkeemia S.P.A. ("Alkeemia") to provide toll beneficiation and
purification services for graphite produced from the Orom-Cross project in
Uganda.

The graphite would be processed at a plant being developed by Alkeemia in
Italy, delivering cleaner purified graphite than conventional Chinese
processing routes and providing Blencowe with an alternative downstream
pathway outside China.

This LOI builds on the successful test work announced on 15 January 2026,
which demonstrated that Orom-Cross graphite can be purified to 99.99% carbon
content, the highest commercially recognised purity, using Alkeemia's
proprietary European purification technology, qualifying the product for sale
into niche, high-value end markets where ultra-high purity is required.

 

Highlights

·    Initial allocation of up to 1,000 tonnes per annum at Alkeemia's
Italian facility, with the intention to increase volumes over time as both
parties expand operations.

·    Access to simpler, faster, lower-toxicity purification
process compared to conventional Chinese processing methods.

·    Cleaner purification technology that is increasingly required by
European and US offtakers and funding bodies, particularly for battery and
energy transition markets

·    Establishes a non-China downstream processing pathway, aligned with
increasing US and European focus on securing critical mineral supply chains

·    Provides Blencowe with near-term, capital-light downstream
optionality, alongside its longer-term plans to develop in-country SPG
processing in Uganda.

·    Strengthens Blencowe's ability to engage with European offtakers and
funding bodies, where local processing and traceable supply chains are
increasingly prioritised.

·    Strengthens European-aligned and international supply chains for
the delivery of high-purity graphite products into global markets.

 

The Company believes this LOI represents an important step in de-risking its
downstream strategy while preserving flexibility as Orom-Cross advances
towards production.  European toll treatment provides Blencowe with the
ability to access premium, high-purity graphite markets without committing to
immediate large-scale downstream capital expenditure.

Blencowe and Alkeemia view this LOI as the first stage in establishing a
longer-term commercial relationship with scope to expand both processing
volumes and collaboration as Alkeemia develops additional capacity and
Blencowe advances Orom-Cross.

The Company believes that establishing a European-based purification and toll
treatment pathway also opens up potential access to European funding
initiatives, where local processing, traceable supply chains and reduced
reliance on Chinese-controlled processing routes are increasingly important
criteria. The LOI with Alkeemia therefore strengthens Blencowe's positioning
in ongoing discussions with European stakeholders across offtake, strategic
partnerships and funding.

Blencowe is already an exclusive supplier of natural flake graphite into the
EU SAFELOOP initiative, which is part of the European Union's €100 billion
Project Horizon energy transition programme, further strengthening the
Company's positioning within European battery and energy transition supply
chains.

 

Cameron Pearce, Blencowe's Executive Chairman commented:

"This LOI with Alkeemia, represents a significant strategic step for Blencowe,
providing a credible European purification pathway for Orom-Cross graphite
using cleaner, innovative processing technology.

As Orom-Cross advances towards production and Alkeemia continues to develop
its facilities in Italy, this relationship is expected to support increasing
scale and to act as a platform to bring further European offtake opportunities
into play.

With China announcing export controls on lithium battery products, equipment
and processing technologies, alternatives delivered through Alkeemia have the
potential to play a substantial role in supporting the transition of
international markets towards purified graphite products produced outside of
China."

 

Lorenzo Di Donato, Alkemia CEO commented:

"We are pleased to formalise our collaboration with Blencowe through this
Letter of Intent. Test work has confirmed that Orom-Cross graphite responds
well to our purification process, achieving very high purity levels suitable
for demanding niche end-user applications.

We see this as the beginning of a constructive partnership, with the potential
to expand processing volumes over time and support the development of
European-aligned graphite supply chains."

 

 

 

Issue of Equity

The Company has issued 500,000 ordinary shares to Minex in lieu of fees. Minex
has been appointed as consultant to provides access to project financiers that
have been reviewing the DFS. Also, the Company has granted Minex with
1,000,000 options at 10p for a period of 3 years.

The Company will make an application for 500,000 New Ordinary Shares to be
admitted to trading on the Main Market of the London Stock Exchange at 8.00
a.m. on 28 January 2026.

Total Voting Rights

The Company hereby notifies the market, in accordance with the FCA's
Disclosure Guidance and Transparency Rules, that on Admission, the Company's
enlarged share capital will consist of   477,795,645 Ordinary Shares, each
with one vote. The Company does not hold any Ordinary Shares in Treasury. On
Admission, the total number of voting rights in the Company is expected to be
477,795,645  and this figure may be used by Shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.

 

**ENDS**

 

 

For further information please contact:

 

 Blencowe Resources Plc                   www.blencoweresourcesplc.com (http://www.blencoweresourcesplc.com/)

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

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

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

                                          sasha.sethi@blencoweresourcesplc.com
                                          (mailto:sasha.sethi@blencoweresourcesplc.com)
 Tavira Financial (Joint Broker)

 Jonathan Evans                           Tel: +44 (0)20 3192 1733

                                          jonathan.evans@tavira.group (mailto:jonathan.evans@tavira.group)
 Oak Securities (Joint Broker)

 Calvin Man /Mungo Sheehan / Jerry Keen   Tel: +44 (0)20 3973 3678

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

 

 

 

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