Shares in Renascor Resources Ltd (ASX: RNU) were trading 10% higher after the company said it had started processing graphite through its demonstration plant, in a major milestone for the critical minerals aspirant.

Value-added graphite targeted

The company is aiming to become a supplier to the global battery supply chain, mining graphite from its Siviour deposit on the Eyre Peninsula, then processing a “purified spherical graphite” product for export.

The critical minerals company said on Monday:

The introduction of graphite and reagents into the integrated purification flowsheet marks the commencement of graphite processing under operating conditions at the demonstration plant. These activities are intended to demonstrate the ability to produce battery-grade graphite using Renascor’s HF-free purification process, which is designed to achieve the purity requirements for lithium-ion battery anodes without the use of HF (hydrofluoric acid) while supporting a more environmentally sustainable and cost-competitive purification pathway. The campaign will also support the generation of qualification samples for prospective customers.

Renascor said all of the major process systems had now been operated at target operating parameters.

The company added:

Activities are progressing in line with schedule, with the current phase focused on validating operation of the integrated purification flowsheet under operating conditions. This phase is expected to continue into the next quarter before larger operating runs aimed at generating optimised operating data and larger-scale qualification samples for prospective customers.

Renascor Managing Director David Christensen said:

The commencement of graphite processing through our integrated purification flowsheet represents an important milestone for the PSG demonstration plant and the broader development of Renascor’s downstream battery materials strategy. For the first time, we are operating the process under production conditions with graphite and reagents, with the objective of demonstrating the production of battery-grade graphite and generating qualification material for prospective customers. The demonstration plant was built to validate our HF-free purification process, generate operating data and support customer qualification programs. The activities now underway are an important step in demonstrating that capability and progressing toward commercial-scale production.

Government-backed strategy

The demonstration plant was built with the aid of a $5 million grant from the Australian Government under its Critical Minerals Program.

Renascor said it believed its process “has the potential to provide a commercially competitive and more environmentally sustainable alternative to conventional purification methods through lower reagent consumption, reagent recycling and reduced environmental handling requirements”.

Renascor shares were up 10% to 5.5 cents on Monday. The company is valued at $127.3 million.

The post Why is this junior critical minerals company up 10%? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Core Lithium Ltd (ASX: CXO) shares were moving around early on Monday before falling into the red.

This comes after the company released a new update from its Finniss Lithium Project in the Northern Territory.

At the time of writing, the Core Lithium share price is down 2.62% to 29.7 cents.

Despite today’s fall, the lithium stock is still up 8% since the start of 2026 and has rocketed 238% over the past 12 months.

Let’s take a closer look at what was in today’s announcement.

Underground work begins at BP33

In a statement to the ASX, Core Lithium said underground decline development has now started at the BP33 deposit.

This is a major step for Finniss, which sits about 88 kilometres by sealed road from Darwin Port.

The company said BP33 is expected to provide a long-life, low-cost underground production base, with a mine life of more than 10 years. It also remains open at depth, which means there could be room to extend the operation over time.

The underground development will run alongside the current open-pit mining at Grants.

Core Lithium expects Grants to deliver around 780,000 to 790,000 tonnes of ore and 130,000 to 140,000 tonnes of spodumene concentrate.

Ore from Grants is expected to be processed during the September quarter, with shipments to continue soon after and run through 2027.

First shipment leaves Darwin

The update also included some progress on shipments.

Core Lithium confirmed that its Finniss logistics chain is now fully operational after the first shipment of lithium fines and spodumene concentrate left Darwin Port.

The shipment included 20,000 tonnes of lithium fines and 5,000 tonnes of spodumene concentrate.

The company expects to receive payment before the end of the June quarter, giving it another cash inflow while activity at Finniss ramps up.

Managing Director Paul Brown said the start of underground development at BP33 was a major milestone for the company.

He also said the first shipment showed that Core Lithium’s port and logistics network was now operating as planned.

Core Lithium still has work to do

Core Lithium has had a difficult few years, along with much of the lithium sector, after spodumene prices dropped from their highs.

Today’s update is a step in the right direction, with BP33 moving underground and the first shipment leaving Darwin Port.

However, the company now needs to keep the momentum going at Finniss if the share price run is to continue.

The post This ASX lithium stock just reached a key milestone. Why is it down? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down 0.1% to 8,818.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up over 1% to $6.78. Investors have been buying this infant formula company’s shares after it received approval from the State Administration for Market Regulation (SAMR) to transition the two China label infant milk formula (IMF) product registrations that were acquired in connection with the a2 Pokeno facility to a2 branded products. A2 Milk’s CEO, David Bortolussi, said: “SAMR approval marks a significant milestone in our China growth strategy and Supply Chain transformation. It supports long-term growth in our core IMF business through market access and innovation, accelerates the development of advanced nutritional manufacturing capability, and captures attractive financial returns through incremental brand contribution and vertical margin capture.”

Lindian Resources Ltd (ASX: LIN)

The Lindian Resources share price is up almost 10% to 90.5 cents. This morning, this rare earths developer provided an update on construction progress at its Kangankunde Rare Earths Project in Malawi. Lindian Resources’ executive director, Zac Komur, commented: “Kangankunde is delivering outstanding progress, with construction, mining readiness, procurement, infrastructure and operational preparation all advancing strongly.”

Perenti Ltd (ASX: PRN)

The Perenti share price is up 5% to $2.40. This follows news that its Barminco business has been awarded the contract to provide underground mining services at Barrick Mining’s Fourmile Project in the United States. Management revealed that the contract has an estimated value of $275 million and a 45-month term. Work is due to commence in July. CEO Vanessa Torres said: “Securing the underground mining contract at Fourmile is an exciting development for our North America team. We look forward to expanding our relationship with Barrick through this project. This supports our strategy to expand operations in tier-one mining jurisdictions and continues our disciplined growth into the North American market with both Barminco and Swick.”

SGH Ltd (ASX: SGH)

The SGH share price is up 2.5% to $44.42. This morning, this diversified investment company announced plans to undertake a $500 million on-market share buy-back over the next 12 months. Management advised that it made the decision after a sustained period of strong operating cash flow and de-leveraging. It notes that its leverage has reduced below its through-the-cycle target of 2.0x.

The post Why A2 Milk, Lindian Resources, Perenti, and SGH shares are pushing higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.