Blencowe Resources Plc is pleased to announce that it has selected the preferred site for the future downstream operations associated with its Orom-Cross Graphite Project in Uganda.
Following an extensive search and evaluation process, the Company has secured, by way of an option to purchase, a site of 100 acres located approximately 35km north of Gulu in Northern Uganda, as the future base for downstream processing operations to further beneficiate its graphite concentrate into purified products.
The agreed purchase price for the site is US$70,000, with a 30% down payment payable to secure the option. The option runs for an initial six-month period, with a further three-month extension available. The Company considers the cost to be modest and aligned with its staged downstream development strategy.
The infrastructure surrounding the site is particularly strong, with direct access to a large modern electrical substation connected to Uganda’s hydroelectric power network, including generation from the Karuma Falls Hydropower Station, as well as access to a permanent water source. Â Downstream beneficiation requires reliable and cost-competitive energy, and the Company believes the selected location provides an optimal platform to support a low operating cost profile as downstream capacity is developed.
The scale of this site supports future anticipated growth as both Orom-Cross and the beneficiation facility ramp up together. Site selection is consistent with previously announced planned downstream development strategy and ongoing engineering work.
