How are they going to achieve financing without a DFS? From my...

How are they going to achieve financing without a DFS?

From my point of view once the DFS and BOA's have been achieved then financing will take place, if achievable. When looking at the Capex and NPV i think its very much likely this will get funded for stage one followed by stage two and the spherical graphite offtaker will help fund the spherical plant.

Graphite projects are typically hard to get off the ground until the recent battery metals surge which graphite has started to track upwards from. Renascor has the perfect project to meet this demand with their flake sizes and distribution.

I know comparing this with Syrah isn't 100%,with a significantly larger resource and name plate while being at a different stage their MC is upwards of $420m. This shows that RNU is significantly undervalued.