Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Feb 2021investor presentation● Neutral
February investor update repeating known Siviour graphite and Carnding gold information. It shows 1,666m shares, 182m listed options, $4.6m cash, no debt, and a $0.032 share price (market cap $53.3m). No new operational results.
1 Feb 2021drilling spud● NeutralMajor
A reverse circulation drill program of up to 2,000m starts this week at Soyuz, testing extensions of earlier high-grade gold (7m @ 5.14g/t) and the IP anomaly 500m along strike. A rig is on site; about two weeks of drilling is expected. Carnding is Renascor's first drilling in this gold project.
27 Jan 2021material agreement▲ GoodMajor
Renascor signed a second non-binding MOU, with Chinese anode maker Zeto, for up to 10,000tpa of purified spherical graphite over ten years. With Minguang, MOUs now cover about two-thirds of planned 28,000tpa output. Price and terms remain subject to validation tests.
19 Jan 2021drilling result▲ Good
The new IP survey shows a large, shallow chargeability anomaly about 500m along strike from the earlier high-grade Soyuz drilling (7m @ 5.14g/t Au). Renascor rates it a high-priority drill target; a rig is due on site this quarter. No drilling results yet.
12 Jan 2021other▲ GoodMajor
Renascor says Siviour purified spherical graphite passed first-stage qualification with Minguang New Material, whose September 2020 MOU covers up to 10,000tpa. This allows binding offtake negotiations to begin, but no binding agreement or price is yet announced.
18 Dec 2020regulatory community update▲ Good
South Australia approved Renascor's environmental program (PEPR) for the Carnding Gold Project, clearing the way for about 2,000m of drilling at Soyuz next quarter. Soil sampling and an IP survey are complete, with results due in coming weeks. This resolves the approval lodged in November 2020.
14 Dec 2020other▲ Good
Renascor has been accepted into the European Raw Materials Alliance, set up by the European Commission in September 2020. Membership gives a chance to engage European users of graphite, but no offtake or funding is announced.
11 Dec 2020capital raising announcement● Neutral
Prospectus offers listed options at 2 cents expiring 31 December 2022: 156.3m to placement participants, 20m to lead manager 180 Markets and about 6.1m to directors. This completes the free options attached to the September placement. Not offered to the general public.
26 Nov 2020investor presentation● Neutral
AGM presentation repeating known Siviour graphite and Carnding gold information, with $5.2m cash. It says soil and geophysics at Soyuz come first, then reverse circulation drilling. No new information apparent.
25 Nov 2020well test result▲ Good
Early half-cell tests by Sicona found silicon-enhanced anodes made with Siviour graphite delivered up to 81% higher initial discharge capacity than graphite-only anodes. Full cell tests and a pilot-plant trial are planned. This builds on the Sicona MOU of December 2019; no binding supply deal yet.
11 Nov 2020investor presentation● Neutral
Noosa conference presentation repeating the Siviour graphite and Carnding gold story and known results. It shows about 1,647m shares on issue, $5.2m cash at 30 September and no debt. No new information apparent.
3 Nov 2020regulatory community update▲ Good
Renascor says a October heritage survey cleared the Soyuz gold prospect at Carnding and it has lodged its PEPR environmental approval application. Planned work is soil sampling, a new IP survey and about 2,000m of drilling. Drilling still depends on approval.
27 Oct 2020farm in farm out agreement▲ GoodMajor
Renascor signed a binding farm-in with Rio Tinto Exploration on EL 5586 (Marree Project, Adelaide Fold Belt). Rio can earn 80% by paying $200,000 and funding $3m of exploration within five years. Renascor keeps 100% of the other Marree licences, EL 6170 and EL 6403.
30 Sept 2020admin correction● Neutral
Appendix 4G and 2020 Corporate Governance Statement, current at 29 September 2020, are filed with the annual report. Administrative filing only, with no new operational or financial information.
30 Sept 2020annual report● Neutral
2020 annual report for the year to 30 June 2020. The chairman's letter recaps the Siviour DFS, the Ore Reserve upgrade, the eco-friendly purification and the anode study, and says Renascor is also advancing earlier-stage gold exploration. Financial figures are not shown in the excerpt.
29 Sept 2020material agreement▲ GoodMajor
Renascor signed its first non-binding MOU to supply up to 10,000tpa of purified spherical graphite for ten years to Chinese anode maker Minguang New Material, about one-third of planned 28,000tpa output. Further validation tests must precede any binding agreement.
18 Sept 2020capital raising announcement● NeutralMajor
Renascor has firm commitments for a $3.6m placement at 1.1 cents a share, a 14.4% discount to the 5-day VWAP, with one free option per two shares (2 cents, two-year expiry). Funds go to Siviour graphite work, Carnding gold exploration and working capital. Directors plan to join, subject to shareholder approval.
16 Sept 2020other● Neutral
ASX paused trading in Renascor's shares pending a further announcement, with no reason given in the notice. Given the placement announced two days later, this is likely a pause for a capital raising (inference).
28 Aug 2020drilling result● Neutral
An induced polarisation survey, a single line dating from March 2001, shows untested shallow anomalies about 500m along strike from the Soyuz gold intercepts at Carnding. Renascor is still seeking approvals to drill and plans to test them. No new drilling results.
12 Aug 2020well test result▲ Good
ProGraphite tests show Siviour purified spherical graphite (99.97% carbon) meets anode manufacturers' specifications on particle size, surface area, tap density and impurities. It is a step in qualifying the product and supports continuing offtake talks; no offtake is yet signed.
10 Aug 2020asset acquisition disposition▲ Good
Renascor was granted a new exploration licence application (ELA 2020/00110) next to the Soyuz gold prospect at Carnding, in an area it first acquired rights to in 2012 and had since lost. Planned work is soil sampling and geophysics before drilling.
4 Aug 2020drilling result▲ Good
Renascor highlights drill-ready gold targets at its 100%-owned Carnding Project in South Australia, citing previous drilling at Soyuz of 7m at 5.14g/t gold, including 2m at 16.42g/t. It is a new side project; the company says graphite remains its focus and is seeking approvals to drill.
28 July 2020investor presentation● Neutral
Webinar presentation for Mining South Australia repeating the Siviour battery anode project, market case and known study results. No new information is apparent in the excerpt.
21 July 2020resource reserve update▲ GoodMajor
Siviour Ore Reserve upgraded to 51.5Mt at 7.4% TGC (3.8Mt contained graphite), including Proven 15.8Mt at 8.4%. Previously the Probable Reserve was 45.2Mt at 7.9%, with no Proven category. The company says it is the largest reported graphite reserve outside Africa.
16 July 2020investor presentation● Neutral
Presentation to the Noosa Mining Virtual Conference repeating the battery anode material project and market case from the earlier 1 July study and 2 July presentation. No new results are apparent in the excerpt.
14 July 2020well test result▲ Good
Independent tests by German firm ProGraphite upgraded Siviour graphite to 99.97% carbon battery-grade purified spherical graphite using the caustic roast method, above the 99.95% assumed in the 1 July study. This supports the study's process assumptions and the offtake and finance talks.
2 July 2020investor presentation● Neutral
Presentation of the 1 July battery anode material study results (A$713m NPV10, 33% IRR) plus graphite market background. It repeats known information and contains no new results.
1 July 2020resource reserve update▲ GoodMajor
Study of an integrated mine plus battery anode material plant at Siviour shows post-tax NPV10 of A$713m, IRR 33% and start-up capex of A$213m (A$114m mine, A$90m anode plant), producing about 28,000t a year of spherical graphite. Further funding will likely be required; this is an extension of the November 2019 DFS.
24 June 2020debt financing▲ GoodMajor
Renascor engaged Nordic investment bank ABG Sundal Collier to manage proposed debt financing for the integrated Siviour concentrate and spherical graphite project. It is meant to work alongside the Export Finance Australia and Atradius support already received. It is not a funding commitment.
9 Apr 2020regulatory community update● Neutral
COVID-19 update: cash was $2.1m at 31 March 2020 with no debt. Director and executive cash payments are cut about 35%, which the company expects will fund key work for twelve months. Focus is on spherical graphite, offtake and finance talks.
