Blencowe is a mineral resources company which is currently focused on fast-track development of its wholly owned Orom-Cross Graphite Project (100%) located in northern Uganda (East Africa).
Orom-Cross is an advanced project which was awarded a 21-year mining licence in October 2019. The overall size and scale determined from exploration work in the licence area has demonstrated that Orom-Cross has the potential to become one of the most significant graphite projects in the world based on both size and the quality of the end product. The project is blessed with a significant component of the high-value jumbo and large flake products, which are in high demand. This shallow deposit looks ideal to be mined by open pit methods and will have a low strip ratio, which is a strong catalyst for low cost mining. The management team has made rapid progress at Orom-Cross, which is being fast-tracked to production. Already, the project has been through the Pre-Feasibility Stage (PFS – mid-2022), which highlighted exceptional returns with an NPV8 of US$482 million and a 49% IRR. Currently, Orom-Cross is being put through the Definitive Feasibility Study, which is expected to be completed by the year-end and could result in the project going into production as early as 2025. Orom-Cross is the focus of this research report.
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