{"id":34832,"title":"Blencowe Resources Advances Orum Cross Graphite Project with Key Milestones","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2024-09-03T04:34:47+00:00","modified":"2024-09-03T04:34:47+00:00","canonical_url":"https://stockmark.it/blencowe-resources-advances-orum-cross-graphite-project-with-key-milestones/","markdown_url":"https://stockmark.it/blencowe-resources-advances-orum-cross-graphite-project-with-key-milestones.md","json_url":"https://stockmark.it/blencowe-resources-advances-orum-cross-graphite-project-with-key-milestones.json","category":"Companies","categories":["Companies","Mining"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2022/12/mining-st-2.jpg?fit=480%2C270&quality=89&ssl=1","format":"news","language":"en-GB","content":"Blencowe Resources has announced significant progress in its Orum Cross graphite project in Uganda, East Africa. The company, which acquired the project five years ago, has been diligently advancing through various stages of development, including resource drilling programs, a scoping study, and a pre-feasibility study (PFS). Currently, Blencowe is in the latter stages of a definitive feasibility study (DFS), which is expected to be completed by early 2025.\n\nA major highlight in the recent update is the completion of a 600-ton bulk sample test program. This milestone is crucial for the qualification process required to secure offtake agreements in the graphite market. Unlike base metals or gold, graphite sales necessitate one-on-one agreements with end-users, who require extensive qualification to ensure product quality. The bulk sample test program, which took about 15 months to complete, has demonstrated that Blencowe can maintain high-quality graphite through commercial-scale processing.\n\nAnother significant development is the successful micronization testing. This process involves further grinding of the graphite to produce smaller micron sizes, which can be sold into niche markets at significantly higher prices—ranging from two to ten times the price of standard concentrate. The successful test results will be incorporated into the DFS, adding substantial value to the project.\n\nBlencowe has also built strong relationships with key industry players through its qualification testing. The company has partnered with Gyen, which has signed a 15,000-ton per annum large flake concentrate memorandum of understanding (MOU) with Blencowe. Additionally, Blencowe is collaborating with Tider Graphite, one of the world’s largest spherical graphite (SG) producers, to develop a downstream processing facility in Uganda. These partnerships are expected to enhance Blencowe’s ability to deliver high-quality graphite products.\n\nAs Blencowe moves towards full product qualification and offtake discussions, several tons of battery-ready spherical graphite (SPG) have been sent to Korea, Japan, and China for final in-house testing by original equipment manufacturers (OEMs). The company anticipates that this external testing will be completed within the next month or two, paving the way for offtake agreements.\n\nLooking ahead, investors can expect further updates on the DFS, including Blencowe’s strategy for downstream processing to produce 99.95% purified graphite in Uganda. The company also has additional tranches of DFC grant funding in the pipeline and two new strategic initiatives that will be announced soon. These developments, along with the anticipated offtake agreements, position Blencowe for significant progress as it moves towards a decision to mine."}