Past year: ▼ 35%(5.30c – 8.90c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 June 2018investor presentation● Neutral
June 2018 investor presentation repeating Siviour resource (80.6Mt at 7.9% TGC), reserve (45.2Mt) and testwork. Shows 959m shares, projected cash $8.5m at 30 June, and mining planned Q4 2019 with production Q1 2020.
26 June 2018drilling result▲ Good
Review of historical data identifies new cobalt targets at the 100%-owned Farina Project (e.g. 32m at 655ppm Co at West Willouran), with drilling expected next quarter. Olary drilling approvals are being sought, with drilling expected near the end of 2018.
4 June 2018director officer appointment● Neutral
Pierre van der Merwe appointed Company Secretary and CFO, replacing Angelo Gaudio, who resigned after serving in both roles since 2011.
1 June 2018capital raising announcement▲ GoodMajor
Share Purchase Plan closed with about $1.2m of valid applications, taking the April placement plus SPP to over $7.7m, at 2.7 cents. Tranche 2 (~$2.2m) awaits a general meeting on 22 June 2018. Less than the $2m SPP maximum.
28 May 2018regulatory community update▲ Good
Managing Director and Mastermines completed the May China marketing trip, with negotiations underway with multiple Chinese end-users and talks on technical collaboration with a research group. Samples and a follow-up trip for advanced offtake talks are planned; no new agreements.
24 May 2018drilling result▲ Good
Soil and rock chip sampling at Olary (100%) strengthens cobalt targets: Bulloo Creek shows an 800m by 400m cobalt-in-soil zone over a magnetic anomaly, and Shorts Dam gossans add support. Renascor will seek immediate drill approvals; no drilling yet.
10 May 2018capital raising announcement● Neutral
Share Purchase Plan offer documents: eligible holders can buy up to $15,000 of shares at 2.7 cents, a 17.02% discount to the five-day VWAP. Raises up to $2m, opens 11 May, closes 28 May. Implements the 30 April announcement.
10 May 2018investor presentation● Neutral
Investor presentation dated 8 May 2018 restating known Siviour PFS figures (US$500m NPV10, US$335/t cost, US$29m staged capex) and the April Chenyang MOU. No new information.
8 May 2018capital raising announcement● Neutral
Completion notice for placement tranche 1: 159.3m shares issued, raising $4.30m before costs, taking shares on issue to 831.5m. Fees about $290,000. Implements the 30 April placement; no new information.
What it means for a shareholder
159m new shares at about A$0.027 to raise about A$4.3m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (37,047 at the issue price), your slice goes from 0.00551% to 0.00446% of the company. To keep it you'd need 8,779 more shares - about A$237 at the issue price.
Create a free account to see this worked out for your own holding.
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.
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.
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.
