It was just last week when the markets were tanking, I was doing my DD for conviction to hold through, I posted about how well RNU was situated for funding, I was not expecting this sort of announcement to come through so soon afterwards. Below I have copy and pasted a section of my previous post which is an announcement from 20/4/2021.
Please correct me if I'm wrong but this below announcement is for funding in SA and from my understanding it is another government funding scheme that RNU has support from ($1.08bn state energy and emissions reduction deal, that includes $400m for investment in SA).
So say RNU secures $185m loan from Aus government (Export Finance Australia) "The loan was approved under the Australian Government’s $2 billion Critical Mineral Facility", and RNU is also supported by the state energy and emissions reduction deal. With a total capex of ~$205m for the entire project and $185m potentially secured, could this mean that RNU only need ~$20m to be fully funded? and could RNU get this $20m from the $400m of funding for SA from the state energy and emissions reduction deal? and in turn not have to do a cap raise and dilute current holders.
the following is from RNU announcement on 20/4/2021
;- State Energy and Emissions Reduction Deal includes $400m funding for clean energy projects in SA
-Renascor Resources’ Siviour PSG project in South Australia is well poised to benefit from funding
The Siviour project will be among the world’s lowest cost producers of an important value-added graphite product, a critical mineral that is fundamental to the growth of the EV and renewable energy and battery storage industries,” managing director, David Christensen, said.
The governments of Australia and South Australia agreed at the weekend to support the $1.08bn State Energy and Emissions Reduction Deal that includes $400m for investment in carbon capture and storage solutions, EVs, hydrogen and other emissions reduction projects in the Australian state of South Australia.“The commitment of the governments towards security of energy supply in South Australia, and the targeted investment in priority areas, provides Renascor additional confidence in our strategy of integrating our world-class Siviour graphite mine and concentrator with a downstream PSG manufacturing facility,” said Christensen.
Please correct me if i am wrong or have misinterpreted any information i've posted above.
Cheers, and congrats to all
(20min delay)