Insights

Why the Renascor (ASX:RNU) share price is rocketing 26% today

The company’s shares are hitting a high note…
The post Why the Renascor (ASX:RNU) share price is rocketing 26% today appeared first on The Motley Fool Australia. –

The Renascor Resources Ltd (ASX: RNU) share price is on fire after receiving a favourable outcome from the federal government.

At the time of writing, Renascor shares are up a massive 26.92% to 16.5 cents. This means that its shares are now trading at a 6-month high.

Renascor on track for battery anode material operation

The Renascor share price is firmly in the green today after it updated investors with positive news.

Renascor advised it has received a significant boost for its planned Siviour Battery Anode Material operation (the Siviour Project) in South Australia.

According to its release, the Australian federal government has granted Renascor with Major Project Status (MPS) for the Siviour Project. The award follows the recognition of the strategic importance of the Siviour Project in contributing to Australia’s Critical Mineral Strategy.

The Siviour Project’s vertically integrated operation manufactures purified spherical graphite through the company’s eco-friendly, HF-free2 purification process. The graphite deposit located in Siviour is reported to be the largest graphite reserve outside of Africa.

Renascor’s aim is to become a leading supplier of low-cost purified spherical graphite for lithium-ion battery anode manufacturers worldwide.

The award will provide an array of benefits for the company’s Siviour Project. This includes Australian Government approvals, project support and coordination with state government approvals.

Renascor managing director, David Christensen commented:

The award of Major Project Status is an important recognition of the strategic importance of Siviour as both a world-class mineral resource and its potential to add further value through a downstream operation in Australia to produce a globally competitive, 100% Australian-made refined graphite product on globally competitive terms for direct sale to the lithium-ion battery supply chain.

The Major Project Status designation will assist us as we progress Siviour through the final development phases and will offer an important endorsement of the Project as we enter binding offtake negotiations and embark on project financing.

About the Renascor share price

Over the last 12 months, the Renascor share price has soared over 860%, with year-to-date up an astonishing 1,100%. The company’s shares have gone strength-to-strength as the lithium sector heats up.

On valuation grounds, Renascor presides a market capitalisation of roughly $272 million, with approximately 1.9 billion shares on its registry.

The post Why the Renascor (ASX:RNU) share price is rocketing 26% today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Renascor right now?

Before you consider Renascor, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Renascor wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The Renascor Resources (ASX:RNU) share price is up 41% in 30 days

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!