Quarterly Activities Reportfor the period ended 31 March...

Quarterly Activities Report
for the period ended 31 March 2023
Significant Events
• Work 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 operations1.
o Following the approval of the Program for Environment Protection and
Rehabilitation for its upstream Mine and Concentrator2, 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.
o 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.
o Engineering deliverables have been received for the downstream PSG facility,
based on an optimised purification process, with on-going works assessing key
support infrastructure.
o 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.