Blencowe Resources shares fall as CEO Mike Ralston to retire

Blencowe Resources PLC on Monday announced the immediate resignation of Mike Ralston as chief executive officer.

Ralston will continue to support the firm on a full-time consultancy basis until his planned retirement at the end of 2026.

The company said: "In the interim, operational activities and key development workstreams will continue under the existing senior management team, led by Chief Operating Officer Iain Wearing, who already has primary responsibility for the day-to-day advancement of the Orom-Cross graphite project."

Executive Chair Cameron Pearce said: "Orom-Cross continues to advance across funding, engineering, downstream development and commercial workstreams. Iain and the wider management team have been closely involved across these activities and will ensure continuity while we complete the process of appointing a new chief executive officer.

"Mike will continue to work with us on a full-time consultancy basis through to his planned retirement at the end of the year, supporting the phase 1 funding process and other key workstreams. On behalf of the board, I would like to thank Mike for his considerable contribution to Blencowe and wish him well for his retirement."

Blencowe shares fell 24% to 6.27 pence each on Monday afternoon in London.

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