Blencowe Resources Plc (LSE:BRES) has announced the Tier One investment bank, African Finance Corporation ("AFC"), has expressed interest in participating in both debt and project level equity funding for its Orom-Cross graphite project in Uganda. Chief Executive Mike Ralston explains the significance of attracting another potential funding partner.
In this interview, investors will hear:
- How the proposed African Finance Corporation offering compliments that of existing cornerstone funding partner the US -International - Development Finance Corporation
- Why funding for the Stage 1 production requirement is a tenth of previous estimates
- What the Orom-Cross funding requirement look like in terms of quantities and mix of debt and equity
- Why Blencowe has the credentials to manage the Orom-Cross asset
- What and when the initial milestones for the project are likely to be achieved
Reasons to add Blencowe Resources Plc (LSE:BRES) to your watchlist:
- Blencowe is 100% owner of the Orom-Cross Graphite project in Uganda with a 21-year Mining License awarded in 2019
- Orom-Cross is one of the world's largest estimated graphite deposits
- Pre-Feasibility Study (2022) indicates long mine-life, high-margin, low CAPEX mining operation with a post-tax NPV8 of US$482m
- Plans to build an in-country downstream purification facility in Uganda to upgrade graphite concentrate to battery ready SPG - making Blencowe one of the few delivering 99.95% purified graphite products outside of China
- Has joined the international SAFELOOP consortium - a €100 billion European initiative focused on the EU's renewable energy transition
- The project has received full Minerals Security Partnership accreditation which provides international exposure at the highest level
- BRES is now within the Definitive Feasibility Study phase as it works towards first production
- Phase 2 metallurgical test work completed, bulk sample testing in China underway
- In 1Q25, BRES received a formal Expression of Interest ("EOI") from the African Finance Corporation ("AFC") regarding potential participation in both debt and project level equity funding for the Orom-Cross
- First production targeted 2026
Mike Ralston, CEO of Blencowe Resources was interviewed for focusIR by Sarah Lowther.
