- Renascor Resources (RNU) is raising $15 million to develop its Siviour Battery Anode Material Project in South Australia
- The institutional placement will also issue 187.5 million shares at 8 cents — marking a 15.4 per cent discount to the five-day volume-weighted average price
- Positively, the fresh capital means the graphite operation fully funded to reach the construction phase, which expected to commence next year
- This is part of Renascor’s goal of supplying high-value purified spherical graphite for the global lithium-ion battery and electric vehicle market
- Located in South Australia, the Siviour operation also made up of three significant components
- Company shares have dropped a slight 1.11 per cent to trade at 8.9 cents
