Updated Estimate Confirms Renascor’s Siviour Project as Largest Reported Reserve of Graphite ex-Africa, Stock Spikes

  • Jul 21, 2020 AEST
  • Team Kalkine

Australian mineral developer, Renascor Resources Limited (ASX: RNU) has provided an upgraded mineral ore reserve estimate for its wholly owned Siviour Graphite Project, confirming the project as the largest reported total ore reserve of graphite outside of Africa. Moreover, the estimate confirms Siviour as the second largest reported proven graphite reserve in the world.

Post the significant update, RNU stock edged up by over 8% to $0.013 (as on 11:59 AM AEST).

The upgraded ore reserve provides additional confidence in the size and quality of the Siviour deposit as a consistent source of low-cost, high-quality graphite supporting a mine life of more than 40 years and serving increasing demand for lithium-ion battery anodes.

Renascor expects that the results would further support ongoing offtake and finance discussions for the integrated mine and battery anode material project at Siviour.


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