Blencowe Resources passes "key milestone" with DFC
May 02, 2023 at 06:03 am
Share
(via NewsDirect)
Blencowe Resources PLC (LSE:BRES) CEO Mike Ralston speaks to Proactive after announcing that the company has passed a "key milestone" in its engagement with the U.S. International Development Finance Corporation (DFC), which can provide funding assistance for the Orom-Cross graphite development as part of the US critical minerals policy.
Ralston says Blencowe has now moved through the DFC's screening phase and now moves into the due diligence stage, with a view to reaching an agreement that will "allow [Blencowe] to access up to $4.5mln... as a grant for the definitive feasibility study."
Contact Details
Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Blencowe Resources PLC is a United Kingdom-based mineral exploration and development company. The Company is focused on the exploration of the Orom-Cross Graphite Project located in Northern Uganda. The Company operates Orom-Cross Graphite Project through its Blencowe Resources Uganda Limited. The Project lies within the Orom District, of northern Uganda. The Project tenements encompass an area of approximately 520,000 hectares. The Project is located approximately 6 km east (in a straight line) of the town of Orom and 75 km northeast of the town of Kitgum in northern Uganda. The Orom-Cross presents as a shallow open-pitiable deposit, with a maiden Joint Ore Reserve Committee (JORC) Indicated and inferred mineral resource deposit of 24.5 metric tons (Mt) at 6.0% total graphite content.