Renascor Resources Limited announced that it has signed a second MOU for production of Purified Spherical Graphite (PSG) from its planned Battery Anode Material operation in South Australia. The MOU provides for the supply of up to 10,000tpa of PSG over a period of ten years to Zeto, which represents approximately one- third of Renascor's planned annual PSG production capacity of 28,000tpa. The MOU with Zeto is non-binding and provides the framework for further negotiations in relation to price, product quality and other offtake parameters following completion of additional product validation tests. Zeto is one of the largest anode producers globally, with current anode production capacity of 30,000tpa. Zeto is currently constructing an additional 20,000tpa of anode capacity, with the expansion to 50,000tpa capacity planned for 2022. Zeto is major supplier of natural flake graphite anodes and is active in research and development of anode technologies. Zeto is the first producer of silicon-carbon anode material in China. Renascor is concurrently advancing offtake negotiations for the balance of its planned PSG production capacity, including with anode manufacturers and lithium-ion battery companies headquartered in Northeast Asia and Europe. While COVID-19 has caused some delays by preventing site visits and in-person meetings, Renascor continues to make progress in relation to PSG offtake, with current activities largely focused on undertaking PSG validation tests, responding to due diligence enquiries and negotiating potential offtake terms.