Suscripción y suscripción condicional: reemplazar
This announcement replaces RNS No 0953C released at 7.00 a.m on 6 February 2024 which contained an incorrect amount of shares in the Admission section being 7,487,000 ordinary shares . The correct number is 7,847,000 ordinary shares and Admission is now changed to 8.00 a.m on Monday 12 February 2024. All other information remains accurate.
9 de febrero de 2024
Blencowe Resources Plc (the "Company")
Subscription with new investor to raise US$500,000 and additional conditional subscription for US$3,150,000
&
Admission of new ordinary shares
Nuevo inversor
The Company is pleased to report it has raised US$500,000 (£392,350) at 5 pence per share with a specialist African-based investor ("inversor africano") through the issue of 7,847,000 new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into the project ahead of anticipated further investment as required. The shares have been issued to the African Investor under the Company's existing headroom.
Additional Investor and the Issue of a Prospectus
In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor ("Inversor Estratégico"). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication.
Suscripción condicional
The Strategic Investor has received investment committee approval and made a firm commitment to subscribe. The subscription by the Strategic Investor is subject to the Company issuing the prospectus, a general meeting by the Company to approve certain resolutions relating to the issue of new ordinary shares, settlement of the investment and the issue and allotment of the new ordinary shares.
For the avoidance of doubt, the subscription by the African Investor is firm and not contingent on any investment by the Strategic Investor. The subscription funds have been received from the African Investor and the Company shall apply for the new ordinary shares to commence trading.
Admisiones
An application has been made for 7,847,000 new ordinary shares to be admitted to trading on the official list and the London Stock Exchange from 8.00 a.m. on Monday 12 February 2024 ("Admisiones").
De acuerdo con la Guía de divulgación y las Reglas de transparencia de la FCA, la Compañía confirma que después de la Admisión, el capital social ordinario emitido ampliado de la Compañía comprenderá 217,226,950 Acciones Ordinarias. La Compañía no posee Acciones Ordinarias en Tesorería. Por lo tanto, después de la Admisión, los accionistas de la Compañía pueden utilizar la cifra anterior como denominador para los cálculos para determinar si deben notificar su interés o un cambio en su interés en la Compañía, según la Guía de divulgación de la FCA y Reglas de transparencia.
Mike Ralston, CEO of Blencowe Resources, commented:
'I am pleased to provide this positive update with respect to our fundraising initiatives. As previously reported, we have already received US$2,000,000 in grant funding from the US International Development Finance Corporation ("DFC") out of their approved US$5,000,000 grant. A further US$1,000,000 is expected from the DFC in the near term as the next milestones have been met.
We now welcome a new specialist African investor to the register following the fundraise of US$500,000 at 5 pence, which represents a healthy premium to the current market price and underlines their decision to invest for the long term after an extensive due diligence exercise. We reasonably believe that they will look to invest further as our relationship is built.
Moreover, we are now in the closing stages of a further subscription of £2.5m at 5 pence from another Strategic Investor and we are busily working with our advisers to finalise and issue the prospectus.
Both these investments at 5p underline the value proposition offered by Blencowe and will provide us with a good runway to complete the DFS this year. We are making rapid progress in de-risking the Orom-Cross project, especially following the recent letter of interest received from the DFC to provide a funding solution for the build and development of Orom-Cross. We will continue to work closely with the DFC as we complete the DFS to ensure construction can commence at Orom-Cross in a timely fashion.
I believe it is testament of the quality of the Orom-Cross project that we have been able secure funding partners like this at a time when the junior mining sector continues to face significant difficulties with respect to sourcing capital. We are hoping to deliver an NPV in the DFS significantly higher than the post-tax NPV of US$482M achieved in the Pre-Feasibility Study and will keep shareholders updated on our progress.'
Para más información, póngase en contacto con:
Blencowe Recursos Plc Sam Quinn |
www.blencoweresourcesplc.com Tel.: +44 (0) 1624 681 250
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Relaciones con los inversores Sasha Sethi | Tel: + 44 (0) 7891 677 441
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Financiera Tavira jonathan evans | Tel.: +44 (0) 20 3192 1733
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Primera equidad limitada Jason Robertson | Tel: + 44 (0) 20 7330 1833
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Twitter https://twitter.com/BlencoweRes
Etiqueta LinkedIn https://www.linkedin.com/company/72382491/admin/
Antecedentes
Proyecto Orom-Cross Grafito
Orom-Cross es un proyecto potencial de grafito de clase mundial tanto por tamaño como por calidad del producto final, con un alto componente de copos gruesos más grandes y valiosos dentro del depósito.
El gobierno de Uganda emitió una licencia minera de 21 años para el proyecto en 2019, luego de un extenso trabajo histórico en el depósito. Blencowe completó con éxito un estudio de prefactibilidad del proyecto en julio de 2022 y ahora se encuentra en la fase de estudio de factibilidad definitivo mientras avanza hacia la primera producción.
Orom-Cross se presenta como un depósito grande, poco profundo y de explotación a cielo abierto, con un recurso mineral inicial indicado e inferido por JORC de 24.5 Mt a 6.0 % de TGC (contenido total de grafito). Este recurso se ha definido a partir de sólo ~2% del área total de viviendas, lo que presenta un considerable potencial de crecimiento en el futuro. Se espera que el desarrollo del recurso se beneficie de una baja proporción de franjas y operaciones de excavación libre junto con abundante energía hidroeléctrica económica fuera de la red nacional, asegurando así bajos costos operativos. Con toda la infraestructura principal disponible en el sitio o cerca de él, los costos de capital también serán relativamente bajos en comparación con la mayoría de sus pares de grafito.
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