Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Sept 2021investor presentation● Neutral
New World Metals Conference presentation repeating known Siviour project facts and non-binding offtake MOUs. It shows 1,879m shares, a $0.125 share price (7 Sep), market cap $234.9m, cash $17.2m (30 Jun) and no debt. No new results.
7 Sept 2021regulatory community update● Neutral
Renascor welcomed Australian and South Australian trade ministers' media releases backing its POSCO MOU as aligned with critical minerals policy. No funding or new commercial terms are announced.
31 Aug 2021other▲ Good
Large scale pilot flotation trials finished, processing 77.8t of Siviour ore (up from 63t) at 95.7% purity and 94.6% recovery; one run reached 97.5%. Concentrate has gone to offtake partners to help move MOUs toward binding agreements.
25 Aug 2021material agreement▲ GoodMajor
Renascor signed a non-binding MOU with South Korea's POSCO to supply 20,000-30,000tpa of purified spherical graphite, with a possible POSCO equity investment. Offtake MOUs now total up to 60,000tpa against ~30,000tpa Stage 1, supporting expansion work. Nothing is binding yet.
30 July 2021quarterly activities report● Neutral
June quarter report recapping known results: 99.99% purification using sulfuric acid, 94.5% flotation recovery and pilot concentrate up to 97.5% purity. Cash was about $17.3m. No new results.
30 July 2021quarterly activities report▲ Good
June quarter cash flow: cash rose to $17.27m from $4.09m, helped by the $15m placement ($0.97m raising costs). Operating outflow was $0.27m and capitalised exploration $0.59m. No debt; about 20 quarters of funding at current spend.
28 July 2021other▲ Good
Pilot flotation trials in China on the 63t bulk sample have reached up to 97.5% total carbon at 93.2% recovery in a 3.5t run, and average 95.5% purity overall. About 30t was processed so far; the program is expected to finish early next month.
12 July 2021other▲ Good
Independent locked cycle flotation tests achieved 94.5% graphite recovery versus 91.0% in the 2019 feasibility study, at 94.6% carbon purity. This offers potential efficiency gains; more detailed engineering on the concentrate operation will follow.
2 July 2021director officer appointment● Neutral
Jon Colquhoun was appointed CFO and Joint Company Secretary from 2 July 2021. Pierre van der Merwe stays on as Joint Company Secretary, so he appears to leave the CFO role (inference).
1 July 2021other▲ Good
Renascor swapped hydrochloric acid for sulfuric acid as the main leaching agent, still reaching up to 99.99% carbon. It expects lower reagent costs and less chemical, energy and water use. Lock-cycle tests now begin; these are expectations, not proven savings.
28 May 2021other▲ Good
Dorfner ANZAPLAN purification trials reached up to 99.99% carbon using Renascor's HF-free process, versus the 99.95% industry standard and the earlier 99.98%. Results will feed detailed plant design and offtake and finance talks.
19 May 2021investor presentation● Neutral
May 2021 investor presentation repeating known Siviour project information. It shows 1,879m shares, a $0.07 share price (17 May), market cap $131.5m, cash $17.6m after the placement, and no debt. No new operational results.
17 May 2021other● Neutral
Renascor was added to the MSCI Australia Micro Cap Index from 27 May 2021. This is an index inclusion only and brings no operational or funding change.
13 May 2021other▲ Good
Renascor has begun a bulk production trial, with 63 tonnes of Siviour ore sent to China for processing into purified spherical graphite. Samples will go to Minguang, Zeto and Hanwa for second-stage validation, aimed at turning the non-binding MOUs into binding offtake agreements.
30 Apr 2021quarterly activities report● Neutral
March quarter report recapping known events: Hanwa and Zeto MOUs, first-stage qualification, 99.98% purification, CEFC support, New Mine royalty status and the $15m placement. Cash was about $4.1m before the placement proceeds. No new results.
30 Apr 2021quarterly activities report● Neutral
March quarter cash flow: cash fell to $4.09m from $4.56m, with $0.67m capitalised exploration and evaluation spend and $0.38m from option exercises. No debt. The $15m placement proceeds arrived after quarter end and are not included.
23 Apr 2021capital raising announcement▲ GoodMajor
Renascor raised about $15m via an institutional placement of 187.5m shares at $0.08, an 11.1% discount to the last close. The company says this funds Siviour through to a final investment decision, with construction targeted for 2022. Cash was just $4.1m at March.
What it means for a shareholder
188m new shares at A$0.080 to raise about A$15.0m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (12,500 at the issue price), your slice goes from 0.000742% to 0.000667% of the company. To keep it you'd need 1,391 more shares - about A$111 at the issue price.
Create a free account to see this worked out for your own holding.
21 Apr 2021investor presentation● Neutral
April investor presentation repeating known Siviour project information. It shows a $0.09 share price (20 April), market cap $143.9m, cash $4.6m at 31 December and no debt. No new operational results.
19 Apr 2021regulatory community update● Neutral
Renascor welcomed the $1.08 billion Commonwealth and South Australian energy and emissions deal, which includes $400m for priority areas such as electric vehicles. It says Siviour fits the policy aims, but no funding for Renascor is announced.
16 Apr 2021debt financing● Neutral
Renascor is investigating green financing for Siviour, citing its ESG credentials, with ABG Sundal Collier and BurnVoir engaged. CEFC has agreed to progress to more detailed discussions, with further due diligence next. No amounts or binding terms are given.
9 Apr 2021drilling result▲ GoodMajor
Soyuz RC assays: 13 of 14 holes hit gold, best 11m @ 0.9 g/t including 4m @ 2.0 g/t, about 100m below the earlier 2m @ 16.4 g/t. The company says the mineralised system extends further, but size and continuity remain undefined; no resource.
1 Apr 2021other▲ GoodMajor
Renascor has started work on a substantial increase in Stage 1 capacity beyond the planned 28,000tpa of purified spherical graphite, and is bringing forward Stage 2 feasibility work, citing inbound anode-maker enquiries. Offtake MOUs remain non-binding; no new capacity figure is given.
25 Mar 2021material agreement▲ GoodMajor
Renascor signed a third non-binding MOU, with Japanese trader Hanwa, for up to 10,000tpa of purified spherical graphite for up to ten years. With Minguang and Zeto, MOUs now exceed 100% of the 28,000tpa Stage 1. It is considering an expanded Stage 1 or a Stage 2.
17 Mar 2021investor presentation● Neutral
Investor conference presentation repeating known Siviour project information. It shows a $0.105 share price (15 March), market cap $174.9m, cash $4.6m at 31 December and no debt. The share price is more than double the $0.047 shown in February.
10 Mar 2021half year report● Neutral
BDO's review of the half-year to 31 December 2020 found nothing suggesting the accounts are non-compliant, and no independence breaches. The excerpt shows no going-concern note, unlike the March 2020 review. Financial figures are not included in the text.
9 Mar 2021regulatory community update▲ Good
The federal Critical Minerals Processing road map names Siviour as one of two selected South Australian critical minerals projects. Renascor intends to apply for grants from the Modern Manufacturing Initiative; the company states this is not a funding commitment.
4 Mar 2021debt financing▲ GoodMajor
Renascor received a letter of in-principle support from the Clean Energy Finance Corporation, adding to Export Finance Australia and Atradius support. Flotation tests improved graphite purity and recovery; PEPR submission is being prepared. No funding amount or binding terms are given.
25 Feb 2021investor presentation● Neutral
Conference presentation repeating known Siviour graphite and project information (A$118m mine, A$90m PSG plant, 28ktpa). Share price shown at $0.047, market cap $78.3m, cash $4.6m, no debt. No new operational results.
24 Feb 2021other● Neutral
Renascor was accepted into the European Battery Alliance, a European Commission-created network of about 600 members including the European Investment Bank. It follows December's raw materials alliance membership. It offers networking with European users, but no offtake or funding is announced.
22 Feb 2021other▲ Good
German consultancy Dorfner Anzaplan independently verified Renascor's HF-free purification, reaching up to 99.98% carbon against the 99.95% industry standard. It extends earlier ProGraphite tests (99.97%) and will feed engineering design and offtake and finance talks.
