Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2018capital raising announcement▲ GoodMajor
Firm commitments for a $6.5m placement at 2.7 cents per share, to fund the definitive feasibility study (due Q1 2019) and Olary cobalt drilling. A Share Purchase Plan of up to $2m at the same price follows. Tranche 2 (about $2.2m) needs shareholder approval.
1 May 2018quarterly activities report● Neutral
March quarter report recapping the PFS, maiden reserve, revised Ausmin option, Olary cobalt expansion and Chenyang-free offtake work. Cash was about $1.7m at 31 March, before the $6.5m placement. Mostly previously announced.
26 Apr 2018material agreement▲ GoodMajor
First offtake MOU, non-binding, with China's Qingdao Chenyang Graphite: up to 10,000t a year of concentrate from Stage 1 and up to 30,000t from Stage 2 of Siviour. Price and other terms are still to be negotiated; talks continue in May.
23 Apr 2018asset acquisition disposition▲ GoodMajor
New option agreement to buy 100% of Ausmin, owner of Siviour, for about 187.6m Renascor shares (notionally 22%), subject to shareholder approval. Replaces the earlier option and removes the $2.5m expenditure condition, replacing the 30 September 2018 vesting deadline with a fixed share price-free consideration.
17 Apr 2018well test result▲ Good
First battery anode tests using Siviour spherical graphite (99.99% C) worked: charge capacity above 367mAh/g and 99.9% coulombic efficiency after 153 cycles. Builds on earlier spherical purity results; early coin-cell tests only.
10 Apr 2018drilling result▲ Good
Review of historical data widens cobalt targets at Shorts Dam (Olary, 100%): gossan with elevated cobalt over about 1km, plus a new magnetic target near old hole SP04 (15m at 0.14% Co). Renascor plans surface sampling and ground magnetics, with drilling in view. Graphite remains core focus.
5 Apr 2018regulatory community update● Neutral
Mastermines will visit China in the last two weeks of April to meet graphite end-users, setting up a larger marketing trip with Renascor executives in May. Follows Mastermines' November appointment; no agreements yet.
16 Mar 2018half year report▼ Bad
Half-year to 31 December 2017: loss of $2.74m (2016: $0.35m), including a $2.29m write-down of exploration costs and relinquishment of eleven tenements, plus one more afterwards. Activity centred on Siviour; PFS and spherical study completed after period end.
15 Mar 2018investor presentation● Neutral
Presentation to the Australian Energy & Battery Minerals conference in Brisbane, repeating the 14 March PFS results (US$500m NPV10, US$335/t cost, US$29m staged start-up capex). No new information.
14 Mar 2018resource reserve update▲ GoodMajor
Prefeasibility study completed with a maiden Ore Reserve of 45.2Mt at 7.9% TGC. Large-scale case: US$500m NPV10, 62% IRR, US$335/t cost. Staged case: US$29m start-up capital, 47% IRR. Renascor moves straight to the definitive feasibility study and funding talks.
21 Feb 2018other▲ Good
Tests show Siviour coarse flake expands at 275-320 ml/g against a 230 ml/g industry standard, supporting sales into the high-value expandable graphite market. Results feed the prefeasibility study due this quarter; a North Asia marketing trip with Mastermines is planned.
15 Feb 2018other▲ Good
Further tests produced 99.99% carbon spherical graphite from Siviour concentrate, meeting industry specifications on all parameters tested, including impurities and surface area. Builds on the 25 January results at 99.97-99.98%.
8 Feb 2018other▲ GoodMajor
Spherical graphite scoping study: 30,000tpa of spherical graphite, A$77.1m start-up capital, stand-alone NPV10 A$307.5m and IRR 59.9%. Combined with the 123,000tpa concentrate case, NPV10 is A$740.5m. Preliminary; more funding is likely needed and may dilute shareholders.
31 Jan 2018quarterly activities report● Neutral
December quarter report recapping the spherical graphite tests, the prefeasibility study due later this quarter and the Olary and Munglinup cobalt work. Cash was about $2.9m at 31 December 2017. Mostly previously announced.
25 Jan 2018other▲ GoodMajor
Independent laboratory tests turned Siviour graphite concentrate into 99.98% pure spherical graphite, above the 99.95% battery-anode standard, with first-pass yields of 51-60%. Spherical graphite sells above US$3,000/t. Early step toward the spherical scoping study, due imminently.
18 Dec 2017admin correction● Neutral
Share registry Link Market Services notifies a new Brisbane address for shareholder enquiries, with Renascor among many listed companies named. Administrative notice only; no company news.
14 Dec 2017drilling result▲ Good
Review of historical drilling at the 100%-owned Munglinup project in WA finds nickel-cobalt targets, best old result 9.1m at 0.11% Co and 1.0% Ni at Boanaernup. Follows the Olary cobalt review; early-stage, and Siviour graphite stays the core focus.
13 Dec 2017other▲ Good
Siviour update: the pre-feasibility study (due Q1 2018) will now test a small-scale start-up plant of 200,000tpa, double the earlier 100,000tpa, thanks to water efficiency gains. Renascor expects higher output and lower cost per tonne. Spherical study due this month; mineral lease application by Q2 2018.
5 Dec 2017investor presentation● Neutral
Presentation to the Resources Rising Stars Summer Series repeating the Siviour Tier-1 pitch: A$450/t operating cost, A$551m scoping NPV10 and the A$15.9m staged start-up option. No new information.
29 Nov 2017material agreement▲ Good
Appoints China-focused Mastermines to build relationships with potential Siviour offtake partners in China and Asia. Paid initially in Renascor shares, which are subject to trading restrictions. Pre-feasibility study results are expected next quarter.
27 Nov 2017drilling result▲ Good
Review of historical Olary drilling identifies cobalt targets at Bulloo Creek and Shorts Dam, with a headline 2m at 0.87% Co (later corrected). Renascor will evaluate cobalt options, but says Siviour graphite remains its core focus.
27 Nov 2017admin correction▼ Bad
Corrects the cobalt release: the RC033 interval was 2m at 0.09% Co, not 0.87%. Best result is now 1m at 0.64% Co in hole SP04. This lowers the headline grade of the earlier announcement.
21 Nov 2017capital raising announcement● Neutral
Prospectus offering listed options at $0.03 expiring 31 Oct 2019: about 60.3m to tranche 1 investors, 26.9m to tranche 2, 25m to lead managers and 2.5m to directors. Completes the free-option part of the September placement; not open to the public.
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.
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.
31 Oct 2017quarterly activities report● Neutral
September quarter report recapping the staged study, EM survey, flowsheet recovery gains and the roughly $3m placement. Pre-feasibility study is in progress. Mostly previously announced.
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.
