General Discussions, page-20394

Now fourteen weeks since environmental permitting was no longer on Renascor's critical path for development and still no major project update provided to the market.

It's also now thirty days since Renascor released an ASX announcement of any stripe.

Not even asking for actual progress, just asking for an update of when they expect progress.

Well done to awhitu for personally contacting the company but if anyone takes that dross response from David Christensen as a genuine and meaningful effort to explain why they are refusing to communicate to the market then have I got a bridge to sell to you. Not only was there a flush of mining conferences on in recent times - where for the most part companies regurgitated information that had previously been released to the market - the deadline for releasing half yearly reports has just passed and numerous ASX listed companies such as Allkem for instance spent much of their briefings with analysts explaining their lack of progress with development projects. Lots of ASX listed companies "systematically do their work in a proper fashion" by communicating with their shareholders and the market. In my view what is "improper" is that David Christensen is refusing to communicate with the market.

I guess one plausible reason for the total radio silence from Renascor throughout the last month is that negotiations of some form may be at the point where it is a conundrum whether they should say something to the market or not and if they released any ASX announcement then the balance would shift to them needing to include in the announcement an update on the negotiations. If that is the case, fair enough, but it only strengthens my view that they should have given an update of the likely timelines when they could do so (that is, immediately after they were told of the PEPR approval, which is how Pilbara Minerals handled a similar situation).