20 Nov 2017investor presentation● Neutral
AGM presentation repeating the Siviour Tier-1 pitch, scoping study economics and the A$15.9m staged start-up option. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Nov 2017director officer appointment● Neutral
Founding non-executive director Andrew Martin resigns after the AGM, citing other commitments. Board drops to five directors; no replacement is mentioned.
6 Nov 2017investor presentation● Neutral
Presentation to the Graphite Supply Chain 2017 Conference promoting Siviour as a Tier-1 project, repeating scoping study and staged study figures. No new information.
27 Oct 2017other▲ GoodMajor
Staged development study for Siviour: stage one of 10,800tpa for A$15.9m capital from 2019, then 123,000tpa for A$138m from 2022. Offers a lower-cost entry than the May scoping study's A$144m single stage; more funding is likely needed and may dilute shareholders.
18 Oct 2017annual report● Neutral
2017 annual report themed on Siviour as a 'tier one' graphite development, recapping the scoping study (NPV10 $551m, payback 1.7 years) and the March resource upgrade to 80.6Mt. Mostly previously announced.
18 Oct 2017admin correction● Neutral
Lodges the Appendix 4G and 2017 Corporate Governance Statement alongside the annual report, as the listing rules require. Administrative filing only; no new results or board changes.
29 Sept 2017annual report● Neutral
Full-year statutory accounts to 30 June 2017, with the directors' report and board biographies. The visible text shows no board changes and no new results; financial figures were not shown in the extract.
27 Sept 2017admin correction● Neutral
Compliance notice for the first placement tranche: 120.7m shares issued raising $2,051,867, taking shares on issue from 482.8m to 603.5m. Fees about $132,000; placement not underwritten. Detail of the 20 September raising.
20 Sept 2017capital raising announcement● NeutralMajor
Placement of about $3m at $0.017 per share (up to about 179.5m shares) with one free option per two shares, exercisable at $0.03 until 31 Oct 2019. $2.05m comes first; $1m from directors and others needs shareholder approval. Funds advance Siviour studies.
What it means for a shareholder
180m new shares at about A$0.0167 to raise about A$3.0m. That's 27% dilution: every existing holder's slice gets 27% smaller. If you held A$1,000 of shares (59,833 at the issue price), your slice goes from 0.0124% to 0.00903% of the company. To keep it you'd need 22,246 more shares - about A$372 at the issue price.
Create a free account to see this worked out for your own holding.
5 Sept 2017regulatory community update▲ Good
Project update: pre-feasibility study due next quarter and definitive study in Q2 or Q3 2018. Improved flowsheet lifts recovery, early offtake talks have begun, and a mineral lease application is planned later this year. Spherical graphite and small-scale start-up studies are under way.
29 Aug 2017material agreement▲ GoodMajor
The Ausmin option terms are amended: exercise now requires $2.5m of project spend from 1 July 2017, replacing the earlier need for a completed definitive feasibility study. This sets a clearer, spend-based path to acquiring Siviour; the 22% equity consideration and 30 Sep 2018 deadline are unchanged.
24 Aug 2017investor presentation● Neutral
Presentation to the GMUSG and Mining 2017 conferences promoting Siviour as a Tier-1 graphite deposit, repeating known scoping study economics. No new information.
7 Aug 2017material agreement▲ Good
Awarded a $25,000 South Australian Future Jobs Fund grant for a business case on concentrate and downstream processing, including spherical graphite for batteries. Second state grant this year after the $100,000 testwork grant. Small in size.
18 July 2017investor presentation● Neutral
July 2017 investor presentation promoting Siviour as a 'Tier-1' graphite deposit, repeating the scoping study figures (NPV10 A$551m, IRR 59%, cash cost A$450/t). No new information.
11 July 2017drilling result▲ Good
Airborne electromagnetic survey confirms Siviour's shallow, flat-lying shape and shows near-surface extensions towards the Buckies and Paxtons prospects, adjoining the Indicated Resource. Follows the May scoping study; no new resource figure, and data will feed mine planning.
9 June 2017dividend declaration▲ Good
Sets 30 May 2017 record date for Exploration Development Incentive tax credits totalling $276,791, to be distributed to eligible Australian-resident shareholders on 29 June 2017. Works out at 0.057331 cents per share across 482,793,861 shares.
23 May 2017investor presentation● Neutral
Presentation to the SA Resources & Energy Investment Conference repeating the scoping study results (NPV10 A$551m, 1.7-year payback) announced the previous day. No new information.
23 May 2017resource reserve update▲ GoodMajor
Scoping study (BatteryLimits) for a 20-year, 123,000tpa open pit and plant: after-tax NPV10 of A$551m, IRR 59%, capex A$144m, cash cost A$450/t. Preliminary; extra funding likely needed, possibly dilutive. Resolves the open scoping study thread; feasibility work follows.
9 May 2017material agreement▲ Good
Renascor won a $100,000 South Australian Government Future Industries Accelerator grant to fund metallurgical testing of Siviour graphite, including suitability for lithium-ion batteries. Work with University of South Australia starts immediately. Small in size.
27 Apr 2017investor presentation● Neutral
Presentation to the Australian Graphite Conference positioning Siviour as a potential 'Tier 1' deposit, repeating the 80.6Mt resource and the Ausmin option terms (22% equity at feasibility). No new results.
31 Mar 2017well test result▲ GoodMajor
Metallurgical tests gave concentrate averaging 94% TGC at 85% recovery, with 48% of flake above 150 microns. Recovery is below the earlier 91% on a single sample, now on 14 holes' core. Company says this is enough to finish the scoping study next month.
17 Mar 2017resource reserve update▲ GoodMajor
Siviour resource upgraded to 80.6Mt at 7.9% TGC for 6.4Mt contained graphite (from 60.8Mt, 4.7Mt); Indicated 51.8Mt. Higher-grade 30.1Mt at 10.0% (from 22.2Mt). Now ranked ninth largest Indicated graphite resource reported worldwide, per the company.
15 Mar 2017half year report● Neutral
Half-year to 31 December 2016: loss of $352,847 (prior year $360,046). Recaps the EPM acquisition completed 5 December 2016 and the 60.8Mt Siviour resource. No new results.
7 Mar 2017drilling result▲ GoodMajor
Assays confirm the eastern extension, e.g. 27m at 11.6% TGC (Siv080) and 22m at 10.5% TGC (Siv098); northeast holes include 44m at 8.2%. A resource upgrade is expected next week, with metallurgical results later in March.
14 Feb 2017drilling result▲ GoodMajor
A 34-hole, 1,800m drill program finished at Siviour. Visible graphite in 12 eastern holes suggests the shallow +10% TGC zone extends at least another 1km east of the Indicated Resource. Assays due in 2-3 weeks; revised resource expected in March.
19 Jan 2017drilling result▲ GoodMajor
Final assays show a shallow +10% TGC zone about 1km long along the southern edge of the Indicated Resource, with potential to extend at least 1km east. Ten of eleven holes hit graphite. A follow-up drill program of up to 2,000m has started.
23 Dec 2016drilling result▲ GoodMajor
First assays from the 11-hole program confirm a shallow +10% TGC zone along the southern edge of the Indicated Resource, e.g. 32m at 9.6% from 13m, under about 8m of cover. It extends southeast and remains open. The scoping study is expanded to a large-scale case.
21 Dec 2016director officer appointment● NeutralMajor
Richard (Dick) Keevers, a director since July and former chair of EPM, becomes Non-Executive Chairman from 1 January 2017. Stephen Bizzell steps down as chair but stays on the board as a non-executive director. Keevers has over 40 years' resource experience.
5 Dec 2016farm in farm out completion▲ GoodMajor
Renascor completed the purchase of the remaining 51% of Eyre Peninsula Minerals, taking it to 100%, by issuing about 42.07m shares and 15m $0.05 options expiring 5 December 2019. This resolves the AGM-approval condition; the Ausmin option still requires a bankable feasibility study.
2 Dec 2016investor presentation● Neutral
Presentation to the South Australian Exploration and Mining Conference repeating known facts: the 60.8Mt Siviour resource and 99% TGC results. Shows cash of $2.7M and share price of $0.032. No new results.