Australia's Renascor Resources gains on high-grade graphite find

Renascor Resources

06/07/2022 04:48

** Shares of Renascor Resources Ltd  RNU.AX  jump up to
16.1% to A$0.18, their highest since June 15
    ** Graphite explorer says it found high-grade graphite at
its Siviour graphite deposit in South Australia  urn:newsml:reuters.com:*:nASX4RNFFr
    ** Results include near-surface intersections of some of the
thickest and highest grade graphite drilled to date, says
managing director David Christensen
    ** Drilling results will support co's mining schedule and
anticipated expansion of the project
    ** Graphite is in great demand for lithium-ion battery
anodes
    ** Stock on track for its biggest pct gain since June 16, if
gains hold
    ** About 19.4 mln shares change hands, compared with the
30-day average volume of 13.3 mln shares
    ** RNU up about 3.3% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))