General Discussions, page-21988

Renascor's Quarterly Activities Report
for the period ended 31 March 2023Significant Events
ASX AnnouncementQuarterly Activities Reportfor the period ended 31 March 2023Significant EventsWork programs during the recently completed quarter focused on advancing the optimised Battery Anode Material Study (BAM Study) for Renascor’s proposed vertically integrated graphite mine and manufacturing operation in South Australia. The BAM Study is assessing an increase in the Stage 1 Purified Spherical Graphite (PSG) production capacity from 28,000tpa, as well as additional staged expansion of PSG operations.Following the approval of the Program for Environment Protection and Rehabilitation for its upstream Mine and Concentrator, the BAM Study will reflect an accelerated commencement of construction of the upstream operation, with procurement of long-lead time items and tendering for front-end engineering and design (FEED) commencing in the current quarter.All engineering deliverables for the BAM Study have been completed on the upstream Mine and Concentrator, with remaining works focused on finalising technical documentation to support project financing, detailed design and procurement.Engineering deliverables have been received for the downstream PSG facility, based on an optimised purification process, with on-going works assessing key support infrastructure.Renascor expects to complete the BAM Study in July 2023.Renascor completed a resource expansion drilling program in an area that includes the north-western extension of the Siviour Inferred Resource. The potential extension of the Siviour Mineral Resource in this area is expected to be used to support future capacity expansions beyond those considered in the optimised BAM Study.Renascor’s cash position as of 31 March 2023 was approximately $134 million.
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