Revenue of Renascor Resources (ASX: RNU) jumps 214% in 1HFY24. What lies ahead?.

Tue 30 Apr 24, 03:45 AM | Team Kalkine

Image source: © Toldiu74 | Megapixl.com

Highlights

Renascor Resources Limited (ASX: RNU) focuses on mineral exploration, development, and evaluation endeavors within Australia. Its primary project is the Siviour Graphite and Battery Anode Material Project. Additionally, the company has a variety of prospects in its portfolio for the development of copper, gold, rare earth, cobalt, and other mineral resources.

In the first half of the financial year 2024 (1HFY24), the revenue of the firm jumped 214.80% YoY to AUD 2.44 million. Profit during the period stood at AUD 0.96 million, compared to a loss of AUD 0.39 million in the previous corresponding period. The period saw progress at its Siviour Project, and drilling work suggests a significant extension to the Siviour Graphite deposit.

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