Our big brother RNU is starting to gain traction for development, please see below commentary around their latest development. I wanted to post this to one reinstate the ITM main thread to be at the top of the discussion board, as this thread is helpful for any new or prospective investors to review historical content here and two to show that in my view we have the same development pathway, albeit we are a few years behind. We have the right management team in place with the know how and integrity to continue to progress this project forward. For full disclosure, I don’t own any RNU shares but have watched their story play out since early 3 cents. I decided to build a large position here due to our market capitalisation and potential upside. I also trust management which is a must for me to take a large position. Cheers, CP.
Renascor has entered into a land purchase agreement to acquire the property that hosts the Siviour Graphite Deposit in South Australia.• Renascor, through its wholly owned subsidiary Ausmin Development Pty Ltd, will acquire the entire freehold land underlying ML 6495, the site of the upstream portion of Renascor’s proposed Battery Anode Material (BAM) Project, a vertically integrated battery anode material manufacturing operation located wholly within South Australia.
The South Australian Department of Energy and Mining has previously approved the Program for Environment Protection and Rehabilitation for the proposed graphite mine and processing plant on ML 6495, permitting Renascor to process up to 1.65 million tonnes per annum, which would permit Renascor to produce up to 150,000 tonnes of Graphite Concentrates per year1.
The acquisition of the freehold land hosting both the Siviour Graphite Deposit and the wider mineral lease will facilitate additional on-ground preparatory works and the planned transition from development into construction as part of Renascor’s strategy to accelerate the upstream development to permit Renascor’s new supply to enter the market in alignment with forecasted near-term shortages of Graphite Concentrates.
China, which supplies ~70% of the global supply of graphite and 90% of global supply of anodes for lithium-ion batteries2, has recently announced graphite export restrictions, highlighting the need for new ex-China supply sources, such as from Renascor’s BAM Project
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