Blencowe Resources PLC (LSE:BRES) CEO Mike Ralston has an extended conversation with Andrew Scott from Proactive about the company and its work in the competitive graphite market.
Blencowe, a London-listed company, focuses on the Orom-Cross Graphite Project in Uganda. Ralston outlines the company's progress since its establishment in 2019, emphasising it unique formula for development and optimism about overtaking industry peers.
Ralston highlights key team members, such as Chief Operating Officer Iain Wearing, emphasising their experience in developing mining projects in Africa. He discussed the importance of balancing team size with cost-effectiveness, highlighting the focus on building a robust leadership team for future growth.
Regarding upcoming inflection points, Ralston points to securing offtake contracts as crucial for project viability and talking about funding, with Blencowe securing a crucial partner in the Development Finance Corporation.
Addressing common misconceptions, Ralston challenges the belief in graphite oversupply, stressing the intricate qualification process for end-users. He clarifies the funding situation and emphasises institutional interest and support.
In terms of differentiation, Ralston underscores the uniqueness of each graphite project, citing Blencowe's high-quality, low-purity graphite as a differentiating factor. He discussed their focus on downstream processing, aiming to turn concentrates into high-purity graphite for increased market value.
He says "the market is not silly... they can see exactly who's doing what, they can see the companies that are actually delivering, developing, moving their projects forward and doing things. And they can see the companies that are just standing still and spending shareholders money by by doing nothing."
