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Blencowe Resources Plc (BRES)
Blencowe Resources Plc (BRES) Share Price

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Blencowe Resources Plc	LSE:BRES	London	Ordinary Share	GB00BFCMVS34	ORD 0.5P

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	0.10	2.04%	5.00	470,240	10:44:51

Bid Price		Offer Price	High Price	Low Price	Open Price
4.80		5.20	5.00	4.90	4.90

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Offices-holdng Companies,nec	0.05	-1.09	-0.60	-	8.90

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
16:20:51	O	19,209	5.18	GBX

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Blencowe Resources (BRES) Latest News (4)

Blencowe Resources News

Date	Time	Source	Headline
02/6/2023	11:02	ALNC	Blencowe Resources loss widens as progresses Uganda graphite project
02/6/2023	07:00	UKREG	Blencowe Resources PLC Half-year Report
24/5/2023	08:59	UKREG	Blencowe Resources PLC Holding(s) in Company
18/5/2023	14:29	ALNC	IN BRIEF: Blencowe raises GBP635,000 for Orom-Cross study
18/5/2023	07:46	UKREG	Blencowe Resources PLC Placing to Raise GBP635,000
09/5/2023	07:00	RNSNON	Blencowe Resources PLC Webinar Today
02/5/2023	07:11	RNSNON	Blencowe Resources PLC Investor Webinar & Updated Presentation
27/4/2023	15:22	UKREG	Blencowe Resources PLC Strategic Funding Partner for Orom-Cross
18/4/2023	07:00	UKREG	Blencowe Resources PLC Warrant Expiry Extension
02/3/2023	07:49	RNSNON	Blencowe Resources PLC Research Note

More Blencowe Resources News

Blencowe Resources Investors Blencowe Resources Takeover Rumours

Blencowe Resources (BRES) Discussions and Chat

Blencowe Resources Forums and Chat

Date	Time	Title	Posts
31/5/2023	13:16	Blencowe Resources with Charts	1,123
12/1/2023	00:37	Bulk samples	1
04/10/2021	13:31	Blencowe - Old economy entry into the future	212

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Blencowe Resources (BRES) Top Chat Posts

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Posted at 24/5/2023 10:05 by pauliewonder OK so on 19 April 2022 they had 10%: https://uk.advfn.com/stock-market/london/blencowe-resources-BRES/share-news/Blencowe-Resources-PLC-Holdings-in-Company/87854202 Today they now have 11.34%: https://uk.advfn.com/stock-market/london/blencowe-resources-BRES/share-news/Blencowe-Resources-PLC-Holdings-in-Company/91146927 So it looks like not only have RAB taken shares in the company as part of the recent placing, they have actually increased their position by 1.34%. If thats the case, then it is extremely bullish in my view. Read Full Thread Follow Reply
Posted at 18/5/2023 10:03 by rolo7 shares warrants are starting to build up now also every placing they say 1 for 3 warrants or words to that affect if share price is hit. Read Full Thread Follow Reply
Posted at 17/5/2023 13:28 by gisjob2 I can't quite believe the share price at the moment, all because the timeline is a little longer than some can stomach. If the share price continues to decline I'll have to buy some more despite holding plenty already. Read Full Thread Follow Reply
Posted at 09/5/2023 13:06 by pauliewonder Just come off the webinar with MR. Shocked to see the share price has reduced today, particularly given the upbeat nature of the presentation and Q&A. For those that couldnt attend, below is a summary although my view is that BRES have a number of news items which will be released shortly, including the DFC funding grant of $4.5m which will be hopefully within the next 6-7 weeks: - DFC – graphite on US critical minerals list - Been talking to them for a long time - Couldn’t work with prior to this stage - Interesting few weeks coming up until grant is awarded - Gives us a lot of money but also credibility with a major financial institution - DFC can assist us with long term project funding and not just DFS funding - Graphite - now starting to see a material increase in demand similar to other metals - US government looking to lock in long term supply chains - DFC grant may result in supply chain partners and already seeing interest after RNS - Still speaking to Chinese and will continue to speak to them - China 95% of market at the moment although will reduce as other countries increase - Also speaking to Asian market – Korea / Japanese - Don’t know debt terms of package would be if we got a subsequent debt package (after grant) - DFC know that BRES will sell into China – DFC OK with that at the moment - Will be an evolving relationship with DFC and there are opportunities going forward - Grant of £4.5m (or interest free loan) only payable if project goes into production – as good as you will ever get - DFC will cover 50% and BRES to cover 50% - Don’t have to pay $4.5m for DFS on day 1 so will mean BRES retains funds initially - Will pay invoices on a monthly, weekly basis so no up front lump sums - Will look at various options for other funding - Plenty of very exciting options on the table re: funding that may result in relationships going forward - DFC trumps everything else at the moment – one of the best funding options Ive seen in my time - Don’t want to give away any of the project now - Project worth $30-50m now, will be worth $50-70m very soon - Preserve value for shareholders - Not a west versus east issue. Can work with both and we are currently talking to everybody - Not aligning ourselves with anyone, want to get best value for our product - Re: North American listing, would BRES consider that? At the moment no although once tie up with DFC, likely to get a lot more NA interest and this could be something - China testing – want to test it themselves and not rely on Canada findings - Each end user wants to assess it themselves - Process of testing will be completed soon and will share with the market - Also sent samples to Chicago to test and send up to 99.9% - will also share - A lot of good newsflow coming up soon - Re: Jorc resource increase – want to develop co as far as we can with as little as we can - Choice between develop Jorc or develop project - If we had access to more cash we would add to the Jorc - Speaking to DFC about whether they would assist with Jorc expansion costs - Increased Jorc would mean higher value project, but at 14 years mine life, sufficient at the moment - So much graphite at OC that we could drill and add to Jorc for a long, long time - China testing to be completed soon - Chicago testing happening at the moment and completed near term - Will send results to market for all the above - DFC are a funding partner, not a technical partner - OEMs will be end buyer and need to ensure that product is right - OEMs will need to test product to make sure it fits - Don’t know when binding offtake contracts will happen - Definitely got interest and might get non-binding interest soon - In China looking at plants at the moment - Binding contracts only occur when 99.9% purity has occurred and OEMs get test work - Binding contracts from around 6-12 months time, non-binding before - Demand is there, question is can we be the best producer to sell to highest OEMs and get best prices? - DFC provide 50%. They never provide the full cost because the firm is required to take some risk as part of the deal - Continue to work with them and see what is possible - Re: silicon based batteries, has properties that help and can replace graphite to a small amount (say 10%) - Silicon can help, but can not replace - Synthetic graphite might reduce natural graphite demand but again, cannot replace - Will likely be 50%/50% and forecasts are based on this (i.e. 50/50) - If it was to be less than 50% synthetic, this would have a big (positive) impact for graphite - Quality of end product will determine if we can sell to high end versus lower end - Either way, will be very profitable - There are a lot of interested parties knocking on the door at the moment. Don’t need to take any of these at the moment - Some very attractive options and good partners, but need to look at all of them - DFS grant should be within 6-7 weeks - Grant will shake the tree, we are already seeing an increase since the RNS and we haven’t even signed it yet - Remaining steps for grant, KYC, DD, information needs providing re: plan, budgets, milestones etc which is all happening now - I don’t know how quickly it will be done but my understanding is within 1-2 months and we will do everything we can to speed it up - In the meantime we will be releasing news around what we are doing - We are very excited about DFC opportunity and growing the opportunity itself going forward Read Full Thread Follow Reply
Posted at 15/11/2022 11:06 by pauliewonder Current forecast by house broker shows BRES is trading at a substantial discount currently. Target price 59p. Blencowe Resources plc (BRES.L)* 3 Oct 2022 Price: 3.6p MCp: £6.4m Tck: BRES.L Sector: Graphite / EV's Recommendation: Buy Price Target: 59p Blencowe Resources (BRES.L) plc announced this morning it had received an approach from an unnamed group in China with “extensive experience in graphite” that could lead to an off-take agreement and project funding solution being reached for its Orom-Cross graphite project in Uganda. A bulk sample of around 100 tonnes is expected to be sent to China soon, subject to the required permits being secured to export the raw material. The management noted that if a binding off-take deal can be reached with the Chinese party, then the requirement to construct an on-site pilot plant in order for potential off-takers to assess the graphite material would be removed. Comment - Today’s news is a significant development and shows Blencowe’s graphite project at Orom-Cross is at a much more advanced stage and nearer the point of commercialisation than investors previously thought. The market’s valuation of the shares still remains incorrectly anchored in the past to that of an early development stage resources company, with a market cap of only £6.4m at a 3.6p share price. This is some distance from our own valuation and target price of 59p per share, based upon an estimated risked NPV8 model for the graphite project of US$126.5m (US$482m un-risked), as described in our research note on 19 July 2022. With further news expected in the near term on this new approach from a potential strategic party in China and as Blencowe moves ahead through the DFS process, with the anticipation of a milestone monetisation event looking all the more realistic within the next 12-months, we continue to recommend Blencowe Resources as a ‘Buy’, with a price target of 59p per share. Read Full Thread Follow Reply
Posted at 26/10/2022 08:09 by pauliewonder Supercity, Re: your first point, I get how a fund raise works, but my point is that MR said they didnt need to raise funds. So why then raise funds? If Jangada wanted in, they could have bought in the open market. Alternatively, if they did need to raise funds or thought that there may be a chance within the next 12 mnonths, he should not have clearly stated (on 11 October) that he didnt want to because the share price is low and he does not want to dilute shareholders. Re: your second point, I agree 4p is a good price versus the price last week which i conced in my point above "On the other hand, these are probably sticky shares and the share price is well above the price that they would have had to pay (presumably before the leak, which probably happeneded on Monday, as the starting price share price was 3.4p for that day". Read Full Thread Follow Reply
Posted at 26/10/2022 07:31 by pauliewonder Not sure what to make with todays announcement. On the one hand, MR recently said there would be very little likelyhood of a placing at the corporate level - that was literally 2 weeks ago on 11 October. Then today we see a placing!! I dont like that. Furthermore, it seems that IIs get the chance to buy at cheaper than the rest of the market. For example, what would the price have been had they bought shares in the market? 25p, 30p? Admittedly, they probably wouldnt have chosen to buy the shares at that price, but normal PIs wouldnt get this discount. Clearly, the news leaked somewhat as we had an 18% rise one day followed by a 10% drop the next, the bid price now reflecting the same share price as the placing ie 4p. Furthermore, Jangada are hardly a titan, their market cap is £9m so its not like they are a massive company. On the other hand, these are probably sticky shares and the share price is well above the price that they would have had to pay (presumably before the leak, which probably happeneded on Monday, as the starting price share price was 3.4p for that day). The company also have plenty of capital now and are in a good position going forward. For reference, the following is the Jangada RNS they issued this morning, which outlines probably what many of us here see re: BRES, ie that it is materially undervalued. Jangada Mines plc ('Jangada' or 'the Company') Strategic Investment Jangada Mines plc is pleased to advise it has increased its shareholding in London-listed Blencowe Resources PLC (LON:BRES) ("Blencowe") by 15,250,000 ordinary shares through an investment of GBP610,000 (the "Subscription") into Blencowe. The Subscription was made as part of a broader GBP750,000 placing by Blencowe at a price of 4p per ordinary share with an attaching half warrant per ordinary share with an exercise price of 8p and a 3-year life (the "Transaction"). Following the closing of the Transaction, the Company will have a holding of 18,750,000 ordinary shares in Blencowe, representing approximately 9.5% of Blencowe's enlarged outstanding issued share capital. About Blencowe Resources Blencowe's principal asset is the 100% owned Orom-Cross graphite project in Uganda (the "Project"). The Project has established a JORC resource of 24.5Mt @ 6.0% TCG based on drilling undertaken on less than 5% of the Project area, part of which already benefits from a 21-year mining licence. On 19 July 2022, the company released a Pre-Feasibility Study ("PFS") on the Project, which provided a Net Present Value of US$482m, based on the existing 14-year mine life. The PFS also outlined capex to first production of US$62m, average EBITDA of US$100m per annum and a return of US$1.1bn in free cash over the 14-year life. Blencowe recently confirmed it has received an approach from a potential strategic partner in China and will look to deliver bulk samples for further testing ahead of potentially entering into an agreement that could provide the funding solution for Orom-Cross. Work on a Definitive Feasibility Study is currently underway. For the year ended 30 September 2021, Blencowe reported nil revenue and a loss before tax of GBP694,726. As at 31 March 2022, Blencowe reported gross assets of GBP7,032,220. For more information on Blencowe, please visit its website, which contains the corporate presentation and recent RNS outlining the development strategy of the Project: hxxps://blencoweresourcesplc.com/ Brian McMaster, Executive Chairman of Jangada, commented: "I am pleased to have increased Jangada's ownership in Blencowe Resources to 9.5% through this GBP610,000 investment. The purchase price of 4p per ordinary share values Blencowe at GBP7.1m, or approximately US$8m, prior to its capital raise. This valuation is some 60 times lower than the Net Present Value valuation of US$482M ascribed to Blencowe's Orom-Cross graphite project by the independent third party PFS released earlier this year. I believe the purchase has the potential to be a highly accretive investment for Jangada and its shareholders. "The demand for graphite is expected to see a dramatic uptick over the coming years with significant supply deficits forecast from 2025 onwards, as the roll out of electric vehicles accelerates and a number of the planned 300 battery megafactories come online. To date, graphite is yet to witness the price movements of other battery metals such as lithium and nickel, despite being the largest component within the anode of lithium-ion batteries. Accordingly, we see further upside potential to the already very attractive margins at Orom-Cross. "Given the not unsubstantial cash resources currently held by Jangada following the disposal of the Pedra Branca asset to ValOre, we believe now is the ideal time to increase Jangada's exposure to Blencowe, and graphite, as part of our broader focus on battery metals, which includes our vanadium assets in Brazil." Read Full Thread Follow Reply
Posted at 11/10/2022 15:26 by pauliewonder Hi euclid5, Cant recall everything that was mentioned although the presentation they used is going to be uploaded later today. Its not there at the moment but will be later: hxxps://blencoweresourcesplc.com/presentation/ Key points covered (hope I don't mislead as this is my recollection): - strategic partner and bulk sampling company are different entities - I don't think that was very well communicated in the previous RNS - https://uk.advfn.com/stock-market/london/blencowe-resources-BRES/share-news/Blencowe-Resources-PLC-Strategic-Party/89194611 - BRES speaking to lots of parties at the moment - Bulk sampling company unlikely to be involved in any project level funding - Different options being considered and nothing agreed as of yet because its a fluid situation - Stressed multiple times that the firm do not want to go down the dilution route - Very unlikely to raise funds but if they do, it will be a minute amount to cover expenses and not to fund the project - Separate funding at project level is the main focus and BRES have multiple discussions ongoing in different forms - Expect to name a funding party by end of calendar year by the latest - Discussed BlackRock Graphite price of $1.7k / tonne price and wasnt sure what the basket involved but the analyst who did this is well respected and known to MR. Likely to be reasonable - $1.7k / tonne significantly more than the $1.3k used in current project assumptions i.e. all fall to bottom line - Ebola has no impact at present and unlikely to going forward. OC in north west, Ebola in south so long way off - Bulk samples need to be paid for by BRES - MR very confident in positive outcome as this is an extension of the Canada / Australia samples, so quality should be fine - In discussions at the moment about having independent verification of results i.e. third party or competent person as otherwise would need to take the word of Chinese company - First product will be 2025, unlikely to be before this due to DFS, funding etc. - Project hugely profitable at 50k tonnes (stage 1 of 3). Look at presentation when you can, there are 3 stages. Cost savings if doing stage 1+2 together so that is an option, would fast track development - 30-4-% of shares in sticky hands so defendable in the event of a hostile takeover - Would be open to a buyout but this would need to reflect the value of the project and not lowball offer - Price catalysts in the next few months (in MR view) as the project funding will outline the tangible value of the project i.e. investor will take % of project for capital funding, will demonstrate value - MR view we are extremely undervalued at the moment and likely to be higher going forward as no further dilution, but project will continue to demonstrate value, so inevitably share price will increase I was very impressed by todays event and you will see from the buying action that I have substantially increased my position. Holding onto most of these until 2025 unless we are taken out early as the upside from here is substantial (my view). Good luck all and hope the above helps. Read Full Thread Follow Reply
Posted at 03/10/2022 09:25 by pauliewonder MORNING COMMENT Blencowe Resources plc (BRES.L)* 3 Oct 2022 Price: 3.6p MCp: £6.4m Tck: BRES.L Sector: Graphite / EV's Recommendation: Buy Price Target: 59p Blencowe Resources (BRES.L) plc announced this morning it had received an approach from an unnamed group in China with “extensive experience in graphite” that could lead to an off-take agreement and project funding solution being reached for its Orom-Cross graphite project in Uganda. A bulk sample of around 100 tonnes is expected to be sent to China soon, subject to the required permits being secured to export the raw material. The management noted that if a binding off-take deal can be reached with the Chinese party, then the requirement to construct an on-site pilot plant in order for potential off-takers to assess the graphite material would be removed. Comment - Today’s news is a significant development and shows Blencowe’s graphite project at Orom-Cross is at a much more advanced stage and nearer the point of commercialisation than investors previously thought. The market’s valuation of the shares still remains incorrectly anchored in the past to that of an early development stage resources company, with a market cap of only £6.4m at a 3.6p share price. This is some distance from our own valuation and target price of 59p per share, based upon an estimated risked NPV8 model for the graphite project of US$126.5m (US$482m un-risked), as described in our research note on 19 July 2022. With further news expected in the near term on this new approach from a potential strategic party in China and as Blencowe moves ahead through the DFS process, with the anticipation of a milestone monetisation event looking all the more realistic within the next 12-months, we continue to recommend Blencowe Resources as a ‘Buy’, with a price target of 59p per share. Read Full Thread Follow Reply
Posted at 20/7/2022 20:52 by divmad PPS. On my hols by the seaside now so can only look in after the close of business. I note that yesterday was the first time in a while that Bres share price actually responded positively to an RNS. Today cemented that stronger technical action. Looking much better, and still cheap as chips vs what RAB paid, for anyone thinking of adding/starting a position here. Dyor. Read Full Thread Follow Reply

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