16th Dec 2020 16:06
Blencowe Resources PLC - natural resources company focussed on the development of the Orom-Cross graphite project in Uganda - Raises GBP300,000 from placing 5.0 million shares at 6 pence each, including GBP75,000 from directors of firm.
Executive Chair Cameron Pearce says: "We are pleased to announce further cash has been raised to extend all development work for Orom-Cross into 2021, with key stakeholders contributing meaningfully in a show of faith.
"We appreciate all their support and we look forward to a successful year ahead with some significant milestones and continued progress. Graphite is fast becoming one of the hottest commodities around as electric vehicle expansion accelerates worldwide and Blencowe is positioning itself strategically as a significant future player in this space."
Says has completed 2,000 metre diamond drill programme. Will move to develop first commercial study during the first half.
Current stock price: 6.35 pence
Year-to-date change: down 21%
By Paul McGowan; [email protected]
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