Renascor Resources Limited (ASX: RNU) (Renascor) is pleased to announce that Australia's National Native Title Tribunal has now registered Renascor's Indigenous Land Use Agreement (ILUA) with the Barngarla Determination Aboriginal Corporation RNTBC (BDAC). BDAC is the registered Native Title Body Corporate of the Barngarla People, the Traditional Owners of land in the area encompassing the upstream portion of Renascor's proposed vertically integrated Battery Anode Material (BAM) operation.
As announced on 19 April 20241, the ILUA is an agreement between BDAC and Renascor that contains a cooperative framework to respect Aboriginal heritage and support the BDAC community during the construction and operation of the upstream portion of the BAM project. In addition to including monitoring and reporting protocols and pathways for employment, training and contracting of members of the Barngarla People, the ILUA provides that Renascor will issue shares to BDAC to the value of $35,000, calculated at the 30-day VWAP as of the date of the ILUA's registration2. Registration of the ILUA under Part 8A of the Native Title Act 1993 (Cth), which is required under the Native Title Act for the ILUA to be enforceable, has occurred. Accordingly, pursuant to the terms of the ILUA, Renascor is concurrently issuing Renascor shares to BDAC as disclosed in the Appendix 2A which will follow this announcement.
Contact:
James Moses
Managing Director
Mandate Corporate
+61 (0) 420 991 574
james@mandatecorporate.com.au
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