Ann: Battery Anode Material Study Update, page-21

haha ya can't win. Everyone has been whinging for 4 months wanting an update. They provide one, a good one at that, and people complain.
The market now knows where everything is at. The BAM will likely be released in July, and they are working on the financing aspect now. So financing is likely to be in place before the BAM is released.

There is heaps in this announcement.

While it is anticipated that the estimated capital costs will be subject to inflationary pressures, Renascor expects the improvements in productivity and the strong graphite market outlook will ensure the BAM project will continue to demonstrate robust returns and support a favourable final investment decision later this year.

the BAM Study will reflect an accelerated commencement of construction of the upstream operation, with procurement of longlead time items and tendering for front-end engineering and design (FEED) commencing in the current quarter.
Engineering work on the upstream mining and processing plant is complete and has given us sufficient confidence to commence long-lead item procurement and move to the frontend engineering and design stage

We look forward to the completion of the BAM Study and our transition into the construction phase of a long-life operation that will produce globally competitive, 100% Australian-made battery anode material.”