Join our daily newsletter At The Bell to receive exclusive market insights
- Renascor Resources (RNU) has entered a mid-week trading halt while it plans an upcoming capital raise
- The company will remain in the halt until April 23 or when more details regarding the raise are released, whichever occurs first
- On April 19, Renascor welcomed a $1.08 billion deal from the Commonwealth and South Australian Governments
- This Government deal was designed to make power more available and reduce harmful emissions
- Renascor believes this deal will bode well for its Siviour Project in South Australia as it may benefit from the funding for emission reduction initiatives
- Shares in Renascor last traded at 9 cents on April 20
Renascor Resources (RNU) has entered a mid-week trading halt while it plans an upcoming capital raise.
The company will remain in the halt until April 23 or when more details regarding the raise are released, whichever occurs first.
Renascor is yet to disclose how much it intends to raise or what it will use the funds for once received.
On April 19, Renascor welcomed a $1.08 billion deal arising from a bilateral agreement between the Commonwealth and South Australian Governments.
Of this sum, $660 million will come from the Commonwealth while the remaining $422 million will come from the South Australian Government.
This Government deal was designed to make power more available and reduce harmful emissions.
Renascor believes this deal will bode well for its Siviour Project in South Australia as it may benefit from the funding for emission reduction initiatives in the electric vehicle, renewable energy and battery storage industries.
The Siviour Project is aiming to become the first in-country mine and battery material operation outside of China.
Shares in Renascor last traded at 9 cents on April 20. The company has a $149.9 million market cap.
