Australia's Renascor Resources at 10-year high on supply deal with Japanese trader Hanwa

Hanwa

25/03/2021 24:20

** Renascor Resources Ltd  RNU.AX  rises as much as 23.3% to
A$0.185, hitting its highest since March 14, 2011
    ** The graphite miner says it signed a non-binding initial
deal with Japanese trader Hanwa Co  8078.T  to supply it with
purified spherical graphite  urn:newsml:reuters.com:*:nFWN2LM0OU
    ** Renascor says the early deal covers the purchase of up to
10,000 tonnes per annum of the product over a term of as much as
10 years
    ** The figure represents about a third of RNU's initial
production capacity of its planned battery anode material plant
in South Australia, RNU says
    ** Stock posts its biggest intraday percentage gain since
March 17
    ** Stock up 1150% this year, as of last close

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))