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| Date | 21 Jul 2022 |
| Time | 10:00:02 |
| Category | Miscellaneous |
| ID | 2751T |
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, using 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 £105.4m (prev. £43m) value.
A £105.4m 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
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Blencowe Resources Plc
Sam Quinn (London Director)
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+44 (0)1624 681 250 info@blencoweresourcesplc.com
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Investor Enquiries Sasha Sethi
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Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
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Tavira Securities Jonathan Evans
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Tel: +44 (0)20 7100 5100 jonathan.evans@tavirasecurities.com |
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First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 jasonrobertson@firstequitylimited.com |