Renascor Resources Limited (ASX: RNU), a mineral explorer, announced an optimised development plan (ODP) for its Siviour Graphite Project on 3rd May 2019. As per the company, the adopted optimised plan will enhance the production profile of the stage-one processing capacity by approx. four times. The updated plan led the company to secure support from Atradius Dutch States Business in terms of project finance. As per the company, the optimised plan is based on a two-stage approach to achieve 145,000 tonnes per annum of production.
SOUTH Australian graphite contender Renascor Resources has substantially increased the size of its planned Siviour development, with results of a definitive feasibility study still due in July.
Under the enlarged scenario, output in the first stage has gone from around 23,000 tonnes per annum of graphite concentrate to 83,400tpa, with capital costs rising from an estimated US$29 million to $78 million.
PERTH (miningweekly.com) – Graphite developer Renascor Resources saw its share price surge on Friday after announcing an optimised development plan for Stage 1 of its Siviour graphite project, in South Australia.
The optimised development plan looked at increasing the 22 800 t/y Stage 1 production nearly four fold to 83 400 t/y, while providing for the construction of a similar sized processing plant in Stage 2 for a combined production rate of 145 000 t/y of graphite concentrate.
Renascor Resources Limited (ASX: RNU) explores and evaluates mineral properties in Australia including uranium, graphite, gold, copper, and other deposits. Currently, the companys primary focus lies in developing the Siviour graphite project situated in Eyre Peninsula, South Australia.
On March 4th, 2019, Renascor Resources announced the appointment of BurnVoir Corporate Finance as the financial advisor to organise financing for the development of its 100%-owned flagship Siviour graphite project. As per the deal, BurnVoir will work in collaboration with Renascor and its strategic partner Royal IHC to secure financing for the project that is designed to maximise value for the shareholders.
Renascor Resources managing director David Christensen tells Fastmarkets how the company intends to make maximum use of the financing for the development of its Siviour graphite deposit in South Australia so it can rival the world’s lowest-cost producers.