Blencowe Resources PLC Transaction in Shares (7000Y)
May 14 2021 - 7:00AM
UK Regulatory
TIDMBRES
RNS Number : 7000Y
Blencowe Resources PLC
14 May 2021
Date: 14th May 2021 Blencowe Resources Plc
("Blencowe" or the "Company")
Transaction in Shares
Blencowe Resources Plc, is pleased to provide an update to
shareholders with respect to two recent on market block trades. The
Company can confirm that major shareholder Consolidated Africa
Limited has this week sold a total of 4,000,000 Blencowe Resources
shares to one new private investor introduced by the Company's
broker and significant shareholder Brandon Hill Capital.
Consolidated Africa Limited were the original holder of Orom-Cross
project prior to the completion of the RTO by Blencowe in 2020 and
remain the Company's largest shareholder with a residual holding of
20,000,000 shares, representing 17% of the outstanding share
capital of the Company.
Kevin Nichols, Consolidated Africa Limited CEO commented;
'We are pleased to help facilitate the introduction of a new
shareholder, whilst at the same time increasing our own cash
resources. It has been a little over a year since we completed the
RTO with Blencowe and the Company has made great progress in this
time. Our residual holding in the Company is therefore viewed as a
core investment, given we see significant upside, not only in the
short term given the ongoing drilling campaign and expected results
from metallurgical studies this quarter, but more importantly in
the longer term where we feel Orom-Cross is positioned to benefit
substantially from the burgeoning Electric Vehicle phenomenon"
For further information please contact:
Blencowe Resources Plc
Sam Quinn www.blencoweresourcesplc.com
Investor Relations Tel: +44 (0)1624 681 250
Sasha Sethi info@lionsheadconsultants.com
Tel: +44 (0)7891 677 441
sasha@flowscomm.com
Brandon Hill Capital Limited Tel: +44 (0)20 3463 5000
Jonathan Evans jonathan.evans@brandonhillcapital.com
First Equity Limited Tel: +44(0)20 7330 1883
Jason Robertson jasonrobertson@firstequitylimited.com
Background
Orom-Cross is a potential world class graphite project both by
size and end-product quality, with a high component of larger
flakes identified from previous work performed. A 21-year Mining
Licence was issued by the Ugandan Government in 2019 following
extensive historical work on the deposit.
Orom-Cross presents as a large, shallow open pitable deposit,
with an estimated resource in excess of 3 billion tonnes of
graphite. Development of the resource is expected to benefit from a
low strip ratio and free dig operations, thereby ensuring lower
operating and capital costs.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
POSAIMMTMTTBBRB
(END) Dow Jones Newswires
May 14, 2021 07:00 ET (11:00 GMT)
Blencowe Resources (LSE:BRES)
Historical Stock Chart
From Apr 2024 to May 2024
Blencowe Resources (LSE:BRES)
Historical Stock Chart
From May 2023 to May 2024