Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to provide an update on activities currently underway that are designed to enable an accelerated commencement of construction of the upstream operation for its proposed vertically integrated graphite mine and manufacturing operation in South Australia.

Procurement of long-lead time items has commenced, with SA Power Networks commissioned to commence upgrades to the existing electrical infrastructure to permit the proposed Siviour Mine and Concentrator to connect with the existing electricity grid. In addition, the Company has commenced tendering for Early Contractor Involvement (ECI) in respect of the front-end engineering design for the Siviour Mine and Concentrator. The ECI tending packages are being developed to permit additional procurement of long-lead time items relating to the processing plant and other enabling works.

Commenting on the commencement of the long-lead procurement program, Managing Director David Christensen said: 'Recent investments in litium-ion battery cell and anode manufacturing capacity have not been met by corresponding start-ups of upstream mininig operations, leading to the potential for near-term shortages in the supply of graphite concentrates. The early commencement of long lead-time procurement is part of Renascor's strategy to accelerate our upstream development as we help to fill potential supply gaps and establish Renascor as a long-term supplier of high-quality, 100% Australian-made graphite for the lithium-ion battery sector.'

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Renascor confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Renascor confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. This report may contain forward-looking statements. Any forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. It should be noted that a number of factors could cause actual results, or expectations to differ materially from the results expressed or implied in the forward-looking statements

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