Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Apr 2019regulatory community update▲ Good
Renascor received and accepted proposed terms for the Siviour Mineral Lease from the South Australian energy and mining department. The terms match its August 2018 application. Ministerial approval is expected this month.
12 Mar 2019half year report● Neutral
Half-year accounts to 31 December 2018 show a loss of $812k, versus $2.74m a year earlier, which included a $2.29m exploration write-down. No impairment this half. Cash was $5.2m per the quarterly report.
12 Mar 2019investor presentation● Neutral
Battery minerals conference presentation repeating known Siviour resource, reserve and PFS figures. Shows 1,153m shares, $5.2m cash at 31 December, no debt and a $19.6m market cap at $0.017. No new results.
4 Mar 2019material agreement▲ GoodMajor
BurnVoir Corporate Finance appointed financial adviser to arrange a development funding package for Siviour, working with Royal IHC. Follows the Royal IHC partnership and the pending DFS; no funding is yet committed.
21 Feb 2019resource reserve update▲ GoodMajor
Spherical graphite PFS projects a combined concentrate and spherical operation with post-tax NPV10 of A$889m, IRR 53% and total capital A$221.5m. Spherical plant capex is A$89.9m. These are prefeasibility-level projections that depend on an assumed A$4,800/t spherical price.
20 Dec 2018investor presentation● Neutral
Project update: Siviour DFS now expected in early Q2 2019, with resource modelling done and engineering started. Mining lease decision expected early 2019 and spherical graphite PFS early next quarter. The update also reports offtake and finance talks continuing, with no deals announced.
7 Dec 2018investor presentation● Neutral
Adelaide mining conference presentation repeating known Siviour resource, reserve and PFS figures. Shows 1,153m shares, $6.6m cash at 30 September, no debt and a $21m market cap at $0.018. No new results.
7 Dec 2018drilling result▲ Good
Final 31 DFS drill holes, including all 15 diamond holes, add more shallow high-grade graphite, e.g. 39m at 9.1% from 29m. This completes the infill program and suggests the initial pits could be extended. An updated resource and reserve are expected next quarter.
29 Nov 2018investor presentation● Neutral
AGM presentation repeating known Siviour resource, reserve and PFS figures. Shows 1,153m shares, $6.6m cash at 30 September, no debt and a $21.9m market cap at $0.019. No new information.
28 Nov 2018drilling result▲ GoodMajor
Independent tests upgraded Siviour concentrate to 99.95-99.96% carbon using caustic roasting, rather than hydrofluoric acid, reaching battery grade. Renascor expects lower costs and will update the spherical graphite PFS, due this quarter. These were early sighter tests only.
22 Nov 2018asset acquisition disposition▲ GoodMajor
Renascor completed the 100% acquisition of Ausmin, which holds the Siviour project, by issuing about 187.6m shares to Ausmin shareholders. This closes the deal approved on 3 September and gives full ownership of Siviour.
14 Nov 2018drilling result▲ Good
Assays from a further 44 infill holes show more shallow high-grade graphite, e.g. 35m at 13.2% from 26m. Intersections between and beside the PFS pits suggest the DFS mining schedule could improve. Remaining results to feed the resource update.
13 Nov 2018investor presentation● Neutral
Perth conference presentation repeating known Siviour resource, reserve and PFS figures. Shows about 1,150m shares, $6.6m cash at 30 September, no debt and a $23m market cap at $0.02. No new results.
7 Nov 2018drilling result▲ Good
First 36 of 99 DFS infill holes confirm shallow high-grade graphite, e.g. 25m at 14.0% TGC from 12m. Supports continuity in the Indicated Resource and feeds a planned resource and reserve update. Assays for 63 holes still pending.
5 Nov 2018material agreement▲ GoodMajor
Strategic partnership with engineering contractor Royal IHC Australia, which commits $1m of early works (as discounted feasibility services) and intends to be EPC contractor and help arrange project finance. If financing isn't secured within three months of final approvals, IHC may convert its contribution to shares.
31 Oct 2018drilling result▲ Good
Pilot plant in China processed about 18 tonnes of Siviour ore, achieving the PFS target of 95% TGC with average recovery of 93% (peak 94.8%) versus 91% assumed. Concentrate will serve as marketing samples for offtake talks. More runs are under way.
26 Oct 2018annual report● Neutral
2018 annual report with chairman's letter reviewing the year: PFS, maiden 45.2Mt reserve, spherical graphite scoping study and the first offtake agreement. Next year's focus is the definitive feasibility study. Repeats previously announced results.
26 Oct 2018other● Neutral
Routine filing of the Appendix 4G and 2018 Corporate Governance Statement, which accompany the annual report. No new business information.
17 Oct 2018director officer appointment● NeutralMajor
Non-executive director Chris Anderson resigned immediately, and Geoff McConachy will move from executive to non-executive director from the start of next year. Chair says the board is being realigned as Renascor moves from explorer toward development.
16 Oct 2018drilling progress report▲ Good
First phase of feasibility drilling finished: 99 holes, 4,691m, with every infill hole hitting graphite and visual continuity with the resource model. Northern holes suggest possible extensions. Diamond phase (15 holes, 800m) continues; assays due later this month.
28 Sept 2018annual report● Neutral
Financial report for year to 30 June 2018: loss $3.43m, including a $2.31m exploration write-down. The year's raisings netted $9.99m. Confirms shareholders approved the 189.6m-share Ausmin acquisition at the 3 September meeting.
10 Sept 2018drilling spud● Neutral
Infill drilling started at Siviour for the feasibility study: up to 4,000m of air core and reverse circulation plus up to 1,000m of diamond core, over six to eight weeks. It also aims to expand near-surface high-grade zones. Company says it is funded with $8.2m cash.
6 Sept 2018investor presentation● Neutral
Presentation for the London graphite conference repeating the known Siviour resource (80.6Mt at 7.9% TGC) and reserve (45.2Mt). It shows about 1,151m shares including 189.6m Ausmin shares, after the 3 September approval, and cash of $8.2m at 30 June.
31 Aug 2018drilling result▲ Good
Locked-cycle tests gave 95.9% total carbon concentrate at 93% recovery, versus 91% in earlier batch tests. A simpler flowsheet dropping one regrind and one cleaner stage may cut plant capital. Supports the March PFS parameters ahead of the feasibility study.
28 Aug 2018regulatory community update▲ GoodMajor
Siviour Mining Lease Application lodged with South Australia's energy and mining department, in Ausmin's name, after two years of studies. This delivers the permitting step expected this quarter. Renascor says it is funded ($8.2m cash at 30 June) through the feasibility study. Ausmin acquisition meeting set for 3 September.
22 Aug 2018material agreement▲ GoodMajor
Renascor agreed with the Siviour family, owners of the land hosting the Siviour deposit, to keep access for drilling and bulk sampling and gained the right to acquire an option to buy the land, priced after an independent appraisal next year. Dean Siviour joins a new advisory board.
30 July 2018regulatory community update▲ Good
Siviour Mining Lease Application is expected to be lodged later this quarter; specialist studies are at or near completion with no significant impediments identified. Renascor says it is funded through the definitive feasibility study, with about $8.2m cash at 30 June.
18 July 2018investor presentation● Neutral
Presentation for the Noosa investor conference repeating known Siviour resource, reserve and test results. Shows 961m shares and projected cash of $8.5m at 30 June. No new information.
5 July 2018asset acquisition disposition▲ GoodMajor
Board resolved to exercise the option to buy 100% of Ausmin, owner of Siviour, for about 189.6m shares, subject to shareholder approval at a meeting expected in August. Continues the April option deal.
3 July 2018capital raising announcement● Neutral
Completion of placement tranche 2: 81,438,980 shares issued raising $2.2m before costs, taking shares on issue to 961.3m. Fees about $206,000. Completes the 30 April placement.
What it means for a shareholder
81.4m new shares at about A$0.027 to raise about A$2.2m. That's 7.8% dilution: every existing holder's slice gets 7.8% smaller. If you held A$1,000 of shares (37,018 at the issue price), your slice goes from 0.00385% to 0.00355% of the company. To keep it you'd need 3,136 more shares - about A$85 at the issue price.
Create a free account to see this worked out for your own holding.
