Blencowe Resources (BRES) has raised an additional £86,961 via the retail offer it launched on 15 April 2025.
The retail offer was launched in conjunction with a wider £1 million fundraising completed with through broker Tavira.
The money raised will be used to complete a drill programme at Blencowe’s Orom-Cross graphite project in Uganda, as well as putting the finishing touches on a definitive feasibility study.
The company is already in talks with financing partners.
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A maximum of £100,000 worth of new shares was available under the retail offer, and it’s good to see that almost all of the allocation was taken up by investors. Blencowe has a big year ahead of it, with the upcoming DFS set to establish just how profitable Orom-Cross will be. It’s not easy to raise money in the current market, and that Blencowe has been able to get such a sizeable sum in is testament to the opportunity that’s on offer here.