TIDMBRES

Blencowe Resources PLC

21 July 2022

21 July 2022

BLENCOWE RESOURCES PLC

("Blencowe" or the "Company")

Research Note on Orom-Cross Graphite Project

Blencowe Resources ("Blencowe" or the "Company") (BRES:LON), is pleased to note the publication of a new research note by First Equity Limited on the Company's Orom-Cross graphite project, located in Uganda.

In the note, First Equity Limited, u sing the new PFS numbers, have updated their risked valuation model, based upon a revised NPV8 of $482m for Orom-Cross and by applying a 30% development/resource, 50% finance and 25% country risk factors to derive an estimated GBP105.4m (prev. GBP43m) value.

A GBP105.4m risked graphite project value equates to a price per share of 59p, which is more than double their previous 27p target and represents an uplift of around 18 times from the current share price.

Click here to read: https://blencoweresourcesplc.com/capital-structure/

**ENDS**

Contacts

 
 Blencowe Resources Plc         www.blencoweresourcesplc.com 
 
  Sam Quinn (London Director)    +44 (0)1624 681 250 
                                 info@blencoweresourcesplc.com 
 Investor Enquiries             Tel: +44 (0) 7891 677 
  Sasha Sethi                    441 
                                 sasha@flowcomms.com 
 Tavira Securities              Tel: +44 (0)20 7100 
  Jonathan Evans                 5100 jonathan.evans@tavirasecurities.com 
 First Equity Limited           Tel: +44 (0)20 7330 
  Jason Robertson                1883 
                                 jasonrobertson@firstequitylimited.com

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END

NRAUAABRUOUBURR

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July 21, 2022 05:00 ET (09:00 GMT)

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