Renascor Resources (RNU) Status Update summary

Project and Market Overview

• Siviour Graphite Project in South Australia is among the world's largest and most competitive graphite projects, targeting the high-growth lithium-ion battery anode sector.

• The project aims to produce purified spherical graphite (PSG) for ex-China supply chains, leveraging Australia's low-risk, industrial environment.

• Global graphite demand is driven by EV and battery growth, with China dominating supply and production, creating a need for alternative sources.

• Western markets are increasingly dependent on Chinese graphite, prompting policy and industry moves to develop ex-China supply chains.

• Asian anode manufacturers, especially in South Korea and Japan, are expanding ex-China operations, driving demand for alternative graphite sources.

Competitive Advantages and Technology

• Siviour offers low operating costs, low capital intensity, and is development-ready with regulatory approvals and a strong cash position.

• The project integrates mining and refining, producing higher-value PSG using an HF-free purification process engineered for efficiency and lower cost.

• The purification process uses caustic bake and sulfuric acid leaching, avoiding hydrofluoric acid and reducing costs and environmental impact.

• An AUD 5 million government grant supports the demonstration facility, aiming to prove large-scale, efficient PSG production.

• Siviour’s upstream operation is among the most capital-efficient and competitive ex-China graphite projects, with low OPEX and capex intensity.

Progress, Milestones, and Outlook

• Early contractor involvement and long lead-time procurement are underway to reduce risk, cost, and schedule, including grid upgrades and ore collection for demonstration.

• The PSG demonstration plant is on schedule, with commissioning of the water treatment circuit next quarter and full-scale commissioning by Q4 2025.

• Regulatory approval for the downstream facility is nearing completion, with public and authority consultations completed.

• Non-binding offtake agreements are in place with major anode manufacturers, including POSCO and Mitsubishi Chemicals, and securing binding offtake is a key focus.

• Upcoming milestones include EPC contractor nomination, regulatory approval, demonstration plant commissioning, and progress on binding offtake and financing.