Why Renascor Resources’ (ASX:RNU) shares fell nearly 9% today

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Why Renascor Resources’ (ASX:RNU) shares fell nearly 9% today

Kalkine Media2022-12-08

Shares of Renascor Resources (ASX:RNU) were trading in the red on Thursday morning, a day after being placed on a trading halt so the company could undertake a fully underwritten institutional ...

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CristianCingle
·2022-12-10
Big things to come
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The shares were trading at AU$0.29, down 8.75%, or 0.028 points, from the previous close of AU$0.32. The stock touched an intraday low of AU$0.29 on Thursday.\nRenascor Resources’ share price has gained nearly 64% on a year-to-date basis. The stock of the battery materials explorer has risen over 168% in the past year. In the past month, the stock has risen by 18%.\nWhat’s weighing on Renascor Resources?\nRenascor Resources shares were trading on a weak note after the company launched and completed a fully underwritten institutional placement. The company raised nearly AU$70 million from institutional investors at a 14% discount of 27.5 cents per share.\nAccording to the ASX release, the proceeds from the placement will be used to boost the development of the Siviour Battery Anode Material (BAM) project.\nWhat did Renascor Resources’ management say?\nRenascor’s managing director, David Christensen, was upbeat about the latest development. “The completion of this placement caps off a transformational year for Renascor. The strong demand received from both domestic and offshore institutional investors is a testament to the world-class nature of the BAM project and the significant steps undertaken by the Company to progress its development, following the recent receipt of the PEPR approval and grant of a conditional A$185 million Australian Government loan under the Critical Minerals Facility,” he said.\n“The introduction of these high-quality investors, together with the support shown by existing shareholders, has provided Renascor with the flexibility to bring forward construction and operation of the Siviour upstream operations and allows the Company to take a staged, derisked approach to BAM project development,” Christensen added.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9929195924,"gmtCreate":1670621174069,"gmtModify":1676538405356,"author":{"id":"4133595866232472","authorId":"4133595866232472","name":"CristianCingle","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4133595866232472","authorIdStr":"4133595866232472"},"htmlText":"Big things to come","listText":"Big things to come","text":"Big things to come","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9929195924","repostId":2289749629,"repostType":2,"repost":{"id":"2289749629","pubTimestamp":1670464320,"share":"https://ttm.financial/m/news/2289749629?lang=&edition=fundamental","pubTime":"2022-12-08 09:52","market":"us","language":"en","title":"Why Renascor Resources’ (ASX:RNU) shares fell nearly 9% today","url":"https://stock-news.laohu8.com/highlight/detail?id=2289749629","media":"Kalkine Media","summary":"Shares of Renascor Resources (ASX:RNU) were trading in the red on Thursday morning, a day after bein","content":"<html><body><div>\n<p>Shares of Renascor Resources (ASX:RNU) were trading in the red on Thursday morning, a day after being placed on a trading halt so the company could undertake a fully underwritten institutional placement. The shares were trading at AU$0.29, down 8.75%, or 0.028 points, from the previous close of AU$0.32. The stock touched an intraday low of AU$0.29 on Thursday.</p>\n<p>Renascor Resources’ share price has gained nearly 64% on a year-to-date basis. The stock of the battery materials explorer has risen over 168% in the past year. In the past month, the stock has risen by 18%.</p>\n<h2><strong>What’s weighing on Renascor Resources?</strong></h2>\n<p>Renascor Resources shares were trading on a weak note after the company launched and completed a fully underwritten institutional placement. The company raised nearly AU$70 million from institutional investors at a 14% discount of 27.5 cents per share.</p>\n<p>According to the ASX release, the proceeds from the placement will be used to boost the development of the Siviour Battery Anode Material (BAM) project.</p>\n<h2><strong>What did Renascor Resources’ management say?</strong></h2>\n<p>Renascor’s managing director, David Christensen, was upbeat about the latest development. “The completion of this placement caps off a transformational year for Renascor. The strong demand received from both domestic and offshore institutional investors is a testament to the world-class nature of the BAM project and the significant steps undertaken by the Company to progress its development, following the recent receipt of the PEPR approval and grant of a conditional A$185 million Australian Government loan under the Critical Minerals Facility,” he said.</p>\n<p>“The introduction of these high-quality investors, together with the support shown by existing shareholders, has provided Renascor with the flexibility to bring forward construction and operation of the Siviour upstream operations and allows the Company to take a staged, derisked approach to BAM project development,” Christensen added.</p>\n</div></body></html>","source":"kalkinemedia_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Renascor Resources’ (ASX:RNU) shares fell nearly 9% today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Renascor Resources’ (ASX:RNU) shares fell nearly 9% today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-08 09:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://kalkinemedia.com/au/stocks/metal-and-mining/why-renascor-resources-asxrnu-shares-fell-nearly-9-today><strong>Kalkine Media</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Renascor Resources (ASX:RNU) were trading in the red on Thursday morning, a day after being placed on a trading halt so the company could undertake a fully underwritten institutional ...</p>\n\n<a href=\"https://kalkinemedia.com/au/stocks/metal-and-mining/why-renascor-resources-asxrnu-shares-fell-nearly-9-today\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://kalkinemedia.com/resources/assets/placeholders/350x250.jpg","relate_stocks":{"BK7039":"金融交易所和数据","XAO.AU":"标普/澳交所 普通股指数","ASX":"日月光半导体","XJO.AU":"标普/澳交所 200指数","BK4141":"半导体产品","BK4526":"热门中概股","ASX.AU":"ASX LTD","XKO.AU":"标普/澳交所 300指数","RNU.AU":"RENASCOR RESOURCES LTD","BK7083":"煤与消费用燃料"},"source_url":"https://kalkinemedia.com/au/stocks/metal-and-mining/why-renascor-resources-asxrnu-shares-fell-nearly-9-today","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2289749629","content_text":"Shares of Renascor Resources (ASX:RNU) were trading in the red on Thursday morning, a day after being placed on a trading halt so the company could undertake a fully underwritten institutional placement. The shares were trading at AU$0.29, down 8.75%, or 0.028 points, from the previous close of AU$0.32. The stock touched an intraday low of AU$0.29 on Thursday.\nRenascor Resources’ share price has gained nearly 64% on a year-to-date basis. The stock of the battery materials explorer has risen over 168% in the past year. In the past month, the stock has risen by 18%.\nWhat’s weighing on Renascor Resources?\nRenascor Resources shares were trading on a weak note after the company launched and completed a fully underwritten institutional placement. The company raised nearly AU$70 million from institutional investors at a 14% discount of 27.5 cents per share.\nAccording to the ASX release, the proceeds from the placement will be used to boost the development of the Siviour Battery Anode Material (BAM) project.\nWhat did Renascor Resources’ management say?\nRenascor’s managing director, David Christensen, was upbeat about the latest development. “The completion of this placement caps off a transformational year for Renascor. The strong demand received from both domestic and offshore institutional investors is a testament to the world-class nature of the BAM project and the significant steps undertaken by the Company to progress its development, following the recent receipt of the PEPR approval and grant of a conditional A$185 million Australian Government loan under the Critical Minerals Facility,” he said.\n“The introduction of these high-quality investors, together with the support shown by existing shareholders, has provided Renascor with the flexibility to bring forward construction and operation of the Siviour upstream operations and allows the Company to take a staged, derisked approach to BAM project development,” Christensen added.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}