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ASX : RNU Quarterly Report 31 December 2020 dcamstime RENASCOR RESOURCES ASX Release Quarterly report for the period ending 31 December 2020 Renascor Resources Ltd ABN 90 135 531 341 Head Office 36 North Terrace Kent Town , SA 5067 Australia CONTACT T : +61 8 8363 6989 info@renascor.com.au www.renascor.com.au ASX CODE RNU Developing Australia's Largest Graphite Deposit SOUTH AUSTRALIA Kimba Port Lincoln Cowell Siviour Graphite Project Port Augusta Whyalla Significant Events Renascor enters into non - binding Memorandum of Understanding ( MOU ) with one of China's leading battery anode companies , Jiangxi Zhengtuo New Energy Technology Co. Ltd. ( Zeto ) , to supply up to 10,000 tonnes per annum of Purified Spherical Graphite ( PSG ) from Renascor's 100 % -owned Siviour Battery Anode Material Project in South Australia . ○ Zeto is a top ten anode producer globally , with current anode production capacity of 30,000tpa¹ and an additional 20,000tpa under construction and planned to be in operation by 20222 . Zeto supplies anodes to some of the world's largest battery makers , such as Hong Kong listed BYD Co. Ltd , the world's second largest manufacturer and retailer of electric vehicles³ , with a current market capitalisation of around US $ 100 billionª . Together with Renascor's other PSG MOU with anode company Shanxi Minguang New Material Technology Co. Ltd. ( Minguang New Material ) 5 , Renascor now has non - binding offtake agreements in place for up to 20,000tpa , which represents approximately two - thirds of Renascor's planned annual PSG production capacity of 28,000tpa . Renascor achieves first stage product qualification of Siviour PSG with Minguang New Material . Minguang New Material is part of one of China's largest battery supplier groups . The results of the product qualification tests enable Renascor and Minguang New Material to enter into negotiations regarding binding PSG offtake . Exceptional electrochemical performance results . Preliminary half - cell trials of Renascor's Siviour PSG in silicon - composite anodes deliver exceptional electrochemical performance results in tests undertaken by anode development company Sicona Battery Technologies Pty Ltd ( Sicona ) . • Carnding Gold Project advances to drill stage . At its 100 % -owned Carnding Gold Project in South Australia's Central Gawler Craton , Renascor advances shallow , high- grade gold targets in preparation of drilling in the current quarter . • ○ Induced polarization survey confirms large , shallow chargeability anomaly at the Soyuz prospect . ○ The receipt of PEPR approval from the South Australian Department of Energy and Mining clears the way for upcoming drilling . Renascor enters into binding agreement with Rio Tinto Exploration regarding EL 6549 , part of Renascor's Marree Project in South Australia's Adelaide Fold Belt . Rio Tinto Exploration may earn up to an 80 % interest in EL 6549 through payments of $ 200,000 to Renascor and sole funding exploration expenditure of $ 3 million . Cash position of approximately $ 4.6m as of 31 December 2020 . Page 1 of 16