Blencowe Resources Plc ( (GB:BRES) ) has provided an announcement.
Blencowe Resources Plc has signed a non-binding Memorandum of Understanding with Apollo Energy Systems Inc. for the offtake of purified graphite from its Orom-Cross Graphite Project. This agreement is part of Blencowe’s strategy to diversify its sales channels and secure high-margin sales in niche markets, particularly in the energy storage sector. The MOU with Apollo, a specialist in advanced lead acid battery systems, validates the quality of Orom-Cross graphite and supports ongoing financing discussions. While the initial agreement covers 250 tonnes per annum, there is potential for future expansion. This development strengthens Blencowe’s commercial strategy as it progresses towards production, positioning it favorably within the industry.
More about Blencowe Resources Plc
Blencowe Resources Plc operates in the mining industry, focusing on the extraction and sale of graphite. The company is advancing its Orom-Cross Graphite Project in Uganda, which is noted for its high-quality graphite deposits. Blencowe aims to secure a diversified range of international buyers for its graphite products, targeting various applications and markets.
YTD Price Performance: -8.00%
Average Trading Volume: 558,825
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £10.19M
See more data about BRES stock on TipRanks’ Stock Analysis page.