Blencowe Resources PLC (LSE:BRES) climbed as it followed up the news of tighter Chinese controls over graphite with its own update highlighting the quality of its Orom-Cross deposit in Uganda.
China’s move added around 20% to the share price and there was another 5% gain today as standard market-listed Blencowe said tests in China and the US returned purity grades above 99.96%.
“Not only are we at the highest levels on most relevant indicators but testing has shown we can deliver other valuable products from waste material generated within the process,” said executive chairman Cameron Pearce.
The test results would strengthen its hand when it comes to offtake negotiations, he added.
Shares rose to 5.01p.