Publication of New Research Note

RNS Number : 2905E

Blencowe Resources PLC

05 November 2020

 

Date: 5 November 2020   

Blencowe Resources Plc

("Blencowe" or the "Company")

Publication of New Research Note

Blencowe, the natural resources company focused on development of the Orom-Cross Graphite Project in Uganda, is pleased to advise that Align Research has today published an updated research note on the Company.

The research note provides an update on operations since the first research note issued in May 2020 and contains a new target price for Blencowe of 19.1p per share.

The research has been placed on the Company's website and can be found here:

https://blencoweresourcesplc.com/analyst-coverage/

For further information please contact:

Blencowe Resources Plc Sam Quinn (London Director)	www.blencoweresourcesplc.com Tel: [phone] [e-mail]
Brandon Hill Capital Limited Jonathan Evans (Corporate Finance)	Tel: [phone] [e-mail]

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

 

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