Blencowe Resources plc (LON:BRES) CEO Mike Ralston joins DirectorsTalk to discuss its latest update. Mike talks us through the update highlights for the period since the acquisition of the Orom-Cross Graphite Project in April, explains the key objectives that are still to be met and how he views the outlook for the next twelve months.
Blencowe Resources is developing the Orom-Cross jumbo flake graphite project uganda.
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.