Blencowe Resources PLC Block Listing Application Update (1039H)
December 01 2020 - 6:01AM
UK Regulatory
TIDMBRES
RNS Number : 1039H
Blencowe Resources PLC
01 December 2020
Date: 01 December 2020
Blencowe Resources Plc
("Blencowe" or the "Company")
Block Listing Application Update
The Company provides notification that the block listing
application for 7,500,000 ordinary shares of 0.5 pence each ("Block
Listing Shares") pursuant to the exercise of outstanding warrants
will not proceed due to low levels of exercises to date. The
Company may review an application in the future subject to levels
of exercise notices.
Therefore, the exercise of warrants will be subject to
individual applications for each new issue of equity rather than
through a block listing as originally envisaged. The Company will
announce the exercise of warrants and related application for new
equity upon receipt of any such notices from holders of
warrants.
For further information please contact:
Blencowe Resources Plc
Sam Quinn (London Director)
www.blencoweresourcesplc.com
Tel: +44 (0)1624 681 250
info@blencoweresourcesplc.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans (Corporate Finance) jonathan.evans@brandonhillcapital.com
Background
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.
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END
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