Blencowe's 66% Resource Growth with Further Upside Ahead

Why It Matters

The 66% resource boost gives Blencowe a longer, more attractive mine life, making it easier to attract financing and increasing its valuation.

Key Takeaways

• Blencowe adds 17 Mt to J resource, 66% increase.
• Total J resource now 43 Mt, supporting extended mine life.
• Beehive zone remains untapped, promising additional upside resource.
• Next 15 years of ore mapped, but not yet reserves.
• Larger resource base strengthens funding appeal to investors.

Summary

The video announces a 66% increase in Blencowe's J‑resource, adding 17 million tonnes to the previously reported 26 million, bringing the total to 43 million tonnes.

The upgrade comes from assay results of last year’s drilling; the beehive target remains pending, and the DFS already outlines the first 15‑year mine life. The company says the next 15 years of ore are also identified, though these remain classified as resources pending infill drilling to convert them into reserves.

As the speaker notes, “These results don’t necessarily move into reserves… they will sit as resources for now,” underscoring the need for further drilling. The expanded resource deck is presented as a key lever when courting financing partners.

The enlarged resource base de‑risks the project, extends its economic horizon, and should improve Blencowe’s ability to secure capital, potentially accelerating development timelines and enhancing shareholder value.

Original Description

Blencowe has announced the addition of a JORC resource for the Iyan deposit at its Orom-Cross graphite project in Uganda. The total resource at the project now stands at 43 million tonnes of ore, with only 2% of the surface area of the licence drilled. The company will also be releasing further drill results from the Beehive deposits in due course, and these will lead on to a further resource upgrade. Will Orom-Cross go through the magic 50 million tonnes mark? It's a number that chief executive Mike Ralston floats without hesitation as he sits down to walk us through the implications of the latest results, and to tell us what happens next