Business
Fundraise of £3m
Blencowe Resources Plc has successfully raised £3.0 million through a placing of new ordinary shares at 7p, with no discount to the previous day's closing price, to support the execution phase following the completion of its Definitive Feasibility Study for the Orom-Cross graphite project. The net proceeds, combined with existing cash resources of £1,062,500 and £360,000 from warrant and option exercises, will be used to advance the project towards Phase 1 production readiness, progress commercial and offtake discussions, support financing due diligence, and secure key personnel. Following admission of the new shares, the company's total issued share capital will be 454,603,978 Ordinary Shares. Disclaimer*
About this update from Blencowe Resources Plc
[{"type":"text","content":"\n\n11 December 2025 \n \nBlencowe Resources Plc\n(\"Blencowe\" or the \"Company\")\n \n£3 million Fundraise to Support Execution Following DFS Completion\n \nBlencowe Resources Plc (LSE: BRES), the natural resources company advancing the Orom-Cross graphite project in Uganda, is pleased to announce that it has raised funds of £3.0 million through the placing of 42,857,140 new ordinary shares at a placing price of 7p (the \"Placing\"), representing no discount to the closing market price on 10 December 2025.\nThe Placing was undertaken by the Company's joint brokers, Tavira Financial Limited and Oak Securities.\nStrategic Context\nThe Placing follows the successful completion of the Company's Definitive Feasibility Study (\"DFS\"), which confirmed Orom-Cross as a Tier-1 graphite project and formally transitioned the Company into the financing and development phase.\nThe Company continues to progress P1 project financing discussions with development finance institutions, strategic industry partners and government-backed funding bodies, and expects this funding to be structured predominantly outside of Blencowe plc equity.\nThese funds raised provide near-term working capital and operational flexibility, supporting execution, commercial momentum and project readiness while these financing processes progress in parallel.\nUse of Funds\nAs reported in the Prospectus dated 25 November 2025, the Company held a cash balance of £1,062,500 and has since received a further £360,000 from the exercise of warrants and options.\nThe net Proceeds from the Placing and existing cash resources will be used to:\n· Advance Orom-Cross project toward Phase 1 (P1) production readiness\n· Progress additional in-flight commercial and offtake discussions\n· Support financing due diligence, site visits and engagement processes with development finance institutions, strategic partners and government-backed funding bodies\n· Secure key personnel and specialist capability, and progress early execution workstreams\n· Provide additional working capital during the P1 financing phase...