Australian mineral developer, Renascor Resources Limited (ASX: RNU) has released its quarterly update for the three-month period to June 2020, reporting robust and growth-focused activities channelised towards its flagship Siviour Graphite Project.
During the quarter, Battery Anode Material Study was completed, confirming that the integration of a Purified Spherical Graphite (PSG) processing operation with Renascor’s Siviour Project would provide a competitive gross operating cost, compelling economics and alignment with off-takers, seeking to diversify PSG supply chain from China
Updated Mineral Ore Reserve estimate for Siviour Graphite Project confirmed it as the largest reported total Ore Reserve of graphite outside of Africa and the second largest reported Proven Reserve of graphite in the world.
Independent purification tests by German graphite specialist ProGraphite GmbH confirmed the ability to process Siviour graphite into high-value PSG via environmentally friendlier caustic roast purification method.
Renascor has engaged European investment bank, ABG Sundal Collier, to aid in the proposed debt financing for the vertical integration of Siviour Graphite Concentrate and Battery Anode Material operation.