25th Jun 2024 11:39
Blencowe Resources PLC - London-based mineral exploration and development company - Together with Chinese partner, Jilin New Technology Graphite Co, says that the processing of 600 tonnes of raw material from the Orom-Cross graphite project in Uganda has nearly completed. Adds that commercial scale testing in China "has been crucial" to fast-track product qualification. Sample processing is expected to complete by the end of June, with results due shortly after, though is expecting 30 tonnes of graphite concentrate. Says that "excellent yields and recoveries" have been delivered to date.
Executive Chair Cameron Pearce says: "As we transition to the next phase, our focus remains on delivering premium, battery-ready graphite products that meet the stringent demands of our prospective tier-1 offtakers and OEMS who are seeking high grade product to ensure their long-term supply to meet accelerating demand for battery-ready premium product, especially from the automotive industry for electric vehicle batteries."
Current stock price: 5.55 pence
12-month change: up 11%
By Holly Beveridge, Alliance News senior reporter
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