REG - Blencowe Resources - SAFELOOP Update

Blencowe ResourcesAnnouncement

30/01/2025 07:00

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RNS Number : 2667V  Blencowe Resources PLC  30 January 2025

30 January 2025

Blencowe Resources Plc

("Blencowe" or "the Company")

 

Orom-Cross Graphite Excels in SAFELOOP Product Testing

Exceptional Results Underpin the Project's Strategic Importance

 

Blencowe Resources (LSE: BRES) is pleased to announce significant progress
within Project SAFELOOP, a European Union-led initiative under the €100
billion Horizon Europe Programme focussed on the European Union's renewable
energy transition. SAFELOOP aims to deliver a Gen3 Lithium-ion battery for
standardised EV buses, prioritising safety, recycling, and high performance.
Blencowe is the exclusive supplier of natural flake graphite to the project.

In collaboration with its US-based technical partner and graphite specialist
American Energy Technologies Co. ("AETC"), Orom-Cross graphite has undergone
initial testing and upgrading to battery quality material, delivering standout
results. Testing confirmed the exceptional purity of Orom-Cross graphite, with
thermal refinement to 99.98% wt%C - exceeding industry standards. Furthermore,
composite anodes produced with Orom-Cross graphite achieved an outstanding
68.4 wt% natural graphite content, one of the highest loadings ever recorded
in the battery industry, thus reinforcing its strategic importance in advanced
battery applications.

 

Highlights:

·    Ultra-Pure Graphite: Orom-Cross graphite thermally refined to 99.98%
wt%C, demonstrating exceptional purity over and above market standards.

·    Industry-Leading Loadings: Composite anodes using Orom-Cross graphite
achieved 68.4 wt% natural graphite content - one of the highest loadings
recorded in the battery industry specific to the EV battery anode composition.

·    Superior Performance: Initial electrochemical tests indicate
outstanding results, driven by the unique properties of Orom-Cross graphite.

·    Strategic Potential: SAFELOOP's anticipated graphite concentrate
demand from Orom-Cross could lead to substantial, high-value offtake
opportunities.

 

Technical Insights and SAFELOOP Progress

During November 2024, Orom-Cross graphite samples were processed by AETC as
part of the SAFELOOP initiative. These samples underwent thermal purification,
shaping, and composite preparation in which they were co-processed with
synthetic graphite to create high-performance anodes.

AETC, alongside other SAFELOOP expert partners, is advancing the development
of a high-quality Gen3 Li-ion battery ("LIB") for Electric Vehicles to be
deployed on European soil. Test work completed to date indicates exceptionally
promising results in the targeted EV application using Orom-Cross graphite,
showcasing its premium quality.

In one of the composites produced during shaping and classification the amount
of Orom-Cross natural graphite was a remarkable 68.4 wt% - this is by far one
of the highest loadings of natural graphite into a composition of EV battery
anodes known in the battery industry. By way of reference, EV anodes are
usually synthetic graphite dominant, with the content of synthetic graphite
generally representing anywhere from 75-100% of anode composition.

Testing will continue into the next phase as the SAFELOOP project evolves.

SAFELOOP estimates for graphite concentrate volumes required from Orom-Cross
to fulfil battery demand is projected to be substantial, should the project
transition to commercial-scale production.  The SAFELOOP channel therefore
represents a tier one opportunity for Blencowe, with the potential for premium
pricing far exceeding typical market levels.

 

Executive Chairman Cameron Pearce commented:

"We are very pleased to see such remarkable results from Orom-Cross graphite,
overlaid with AETC's processing expertise and other SAFELOOP partners'
involvement.  Achieving an ultra-pure 99.98% wt%C graphite and one of the
highest natural graphite loadings ever recorded at 68.4 wt% underscores the
high quality of our graphite deposit and validates the differentiated strategy
we have pursued. SAFELOOP aligns perfectly with our development timeline and
its potential scale offers an exceptional and valuable offtake channel for the
future."

 

"Our focus remains on delivering a unique project that stands out in the
graphite sector. By pursuing high-value opportunities like micronisation,
downstream processing, and now SAFELOOP, we are securing the long-term success
of Orom-Cross and building shareholder value."

 

AETC Manager of Government Relationship, Anna Doninger commented:

"The preliminary conclusions of the test work conducted to date is that
Blencowe's natural graphite could become an enabling technology for making an
EV battery grade composite anodes which contain both natural crystalline flake
and synthetic graphites as a coherent whole, and which are simultaneously
dominant in their use of natural graphite, behaving at an impressive level in
electrochemical performance. This is yet another testimony to the premium
quality of Blencowe's natural graphite and its excellent potential for
application in the EV battery market."

 

Strategic Outlook

Blencowe is proud to support SAFELOOP in developing safer, part-recycled,
high-performance EV batteries. The Company continues to position Orom-Cross as
a globally significant graphite project through innovation, strategic
partnerships, and market differentiation.

 

 

 

 

 

For further information please contact:

 

    Blencowe Resources Plc

    Sam Quinn                 www.blencoweresourcesplc.com

                              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@tavirasecurities.com
                              (mailto:jonathan.evans@tavirasecurities.com)

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 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 and Blencowe is now
within the Definitive Feasibility Study phase as it drives towards first
production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden
JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total
Graphite Content. Development of the resource is expected to benefit from a
low strip ratio and free dig operations, thereby ensuring lower operating and
capital costs.

In 3Q 2024 Blencowe introduced a Joint Venture concept with experienced
downstream graphite processing partners to ultimately produce upgraded 99.95%
SPG (spheronised, purified graphite) in Uganda.  This strategy has several
key advantages including additional returns and substantial cost savings which
will assist deliver a world class project once DFS is completed.

Blencowe also announced full Minerals Security Partnership (MSP) accreditation
in 2024 which provides additional tier-one credibility plus further support
from this highly influential quasi-Government organisation.  Together with
the US$5 million grant funds received from the US Government via the
Development Finance Corporation, the Company is building unique and solid
relationships to assist with funding solutions for Orom-Cross project
implementation.

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