FinTechFunding

Renascor Resources: Raises $15M for Siviour project

  • 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
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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