Renascor Advances PSG Plant Commissioning and Expands Cobalt-Copper Exploration

PSG Facility Transitions from Construction to Commissioning

Renascor Resources (ASX:RNU) has hit a major milestone, completing construction of its Australian Government co-funded Purified Spherical Graphite (PSG) demonstration facility in Adelaide. The facility, designed to convert graphite from the Siviour deposit into battery-grade purified spherical graphite, has moved into commissioning with all major equipment installed and interconnected. Pre-commissioning checks, including hydrotesting and control system integration, are complete, and the company is on track to begin processing graphite under operating conditions this quarter, aiming to produce initial customer samples.

This progress builds on earlier announcements about the $5 million government grant supporting the project and marks a crucial step toward validating Renascor’s innovative hydrofluoric acid-free purification process. The demonstration plant will inform detailed design and construction of a full-scale commercial facility, underpinning Renascor’s vertically integrated Battery Anode Material strategy.

Commissioning activities now focus on operating the plant under integrated conditions, with a series of operating runs planned to optimise parameters and scale production volumes. While sufficient graphite feedstock is secured for initial commissioning, additional shipments await export approvals, which could affect timing.

Renascor’s steady march from construction to commissioning echoes its recent progress reported in March, when the company completed major equipment installation and initiated commissioning phases PSG plant completion progress. The demonstration facility also maintains a clean safety record with zero lost-time injuries.

Upstream Project Optimisation and Exploration Advances

Beyond the demonstration plant, Renascor continues to refine upstream project components critical to the Battery Anode Material project. Groundwater studies have returned positive results supporting water supply planning, tailings testwork has delivered encouraging outcomes for waste management, and mining studies have incorporated updated geotechnical assessments. Site enabling and accommodation planning are progressing with development applications lodged and public notifications completed.

Exploration remains a key focus, with multiple projects advancing across South Australia. Notably, the Bulloo Creek prospect within the Olary Project has yielded significant cobalt and copper mineralisation from a recent 13-hole drill program. Highlights include intercepts such as 16 metres at 901 ppm cobalt and 1 metre at 3,110 ppm copper, suggesting a south-dipping cobalt-bearing horizon associated with magnetic anomalies. These results support Renascor’s strategy to expand its exploration footprint in a district known for cobalt-copper and gold systems.

The company plans to integrate drilling data with geophysical and geochemical analyses to refine geological models and identify follow-up targets. This exploration momentum complements an application for a new exploration licence in the Olary district, which lies along strike from existing gold prospects and near the White Dam gold mine, potentially broadening Renascor’s exposure to gold mineralisation.

Native Title negotiations at the Marree Project have advanced toward finalising a Mining Agreement with the Arabana Aboriginal Corporation, paving the way for expanded exploration including uranium targeting at the Mulgaria prospect and copper-gold prospects within the Flat Hill licence. Satellite hyperspectral imaging has been commissioned to enhance geological vectoring and prioritise drilling programs.

At the Wooltana Project, Renascor has initiated uranium exploration using satellite hyperspectral analysis to identify alteration signatures indicative of uranium mineralisation in the Frome Basin. Meanwhile, rare earth element exploration at Tumby Bay is set to expand with a soil geochemistry program targeting identified anomalies.

These exploration efforts align with Renascor’s broader strategy to leverage its South Australian portfolio, balancing graphite development with base metals, uranium, and rare earth opportunities, as highlighted in its recent cobalt-copper drilling and exploration updates Bulloo Creek cobalt-copper zones.

Financial Position and Corporate Movements

Renascor maintains a robust cash position of approximately A$95 million as of 31 March 2026, supporting ongoing development and exploration activities. The company reported A$3 million in development asset costs related mainly to the Battery Anode Material project and A$283,000 in exploration and evaluation expenses for the quarter. Operating cash flow was positive at A$69,000, while investing activities reflected expenditures on project development.

During the quarter, Renascor issued over two million shares to employees upon vesting of performance rights, aligning incentives with project milestones. The company also surrendered a non-core exploration licence (EL 6687) to focus resources on priority areas.

With its demonstration facility commissioning underway and exploration programs advancing, Renascor is positioned to progress toward commercial PSG production and broaden its mineral resource base. However, the timing of graphite shipments for commissioning depends on export approvals, and exploration results require further validation through follow-up drilling and analysis.