Renascor Resources Limited announced that it has achieved first stage qualification of Siviour PSG after recent product quality testing by MOU partner Minguang New Material. The non-binding MOU, in place since September 2020, provides for the supply over ten years of up to 10,000tpa of PSG, which represents approximately one-third of the projected initial PSG production capacity of Renascor's planned Battery Anode Material operation in South Australia. The successful product validation results enable Renascor and Minguang New Material to enter into negotiations regarding binding PSG offtake and complete product qualification testing. 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.