Do not worry the Gov is coming to the rescue.Our graphite mine...

Do not worry the Gov is coming to the rescue.
Our graphite mine is going to be a goer. Can I help spend $4B too.

Renascor Resources (ASX:RNU)

This growing graphite player has received some key funding news this week and its share price is accordingly busting on up and to the right as we type.

“Made in Australia?” You know it. And Albo and co are pushing the Future Made in Australia Act hard right now.

A whopping great $185m loan from the Australian Government to Renascor has now been conditionally approved under the gov’s $4 billion Critical Minerals Facility scheme. Confirmed by Export Finance Australia (EFA).

And that funding is to be utilised to fast track the construction of the upstream portion of the BAM (Battery Anode Material) manufacturing project, which is a graphite concentration operation within the company’s flagship Siviour graphite project.

It’s a capital injection into a promising upstream graphite mine and concentrator facility in South Australia, essentially.

The BAM project combines the Siviour Graphite Deposit in South Australia, the largest reported graphite reserve outside of Africa, and a state-of-the-art processing facility, with the objective of manufacturing purified spherical graphite – “through Renascor’s eco-friendly purification process” no less.

It’s a critical minerals narrative. It’s an EV batteries narrative.

Spherical graphite is battery-grade graphite, and is used specifically for anodes in lithium-ion batteries.

“Renascor Resources will deliver the sustainable and ethically sourced production of Australian-made purified graphite, for use in lithium-ion batteries required for electric vehicles and renewable technologies,” reads an Australian government media release sent out into the wilds today.