Independent tests show Evion’s graphite is highly suitable for lithium batteries

Outstanding results support Evion’s strategy to develop downstream graphite processing business to supply battery anode makers

 

Key Points

 

-          Advanced testing by an independent German battery mineral consultancy using graphite from Evion’s Maniry project in Madagascar has returned fixed carbon grades of up to 99.99%

-          These are exceptionally strong results which are well above the 99.95% fixed carbon grades adopted as a standard benchmark by battery anode manufacturers

-          The test work used proven technology without hydrofluoric acid (HF), highlighting its status as a greener form of purified graphite

-          The tests also demonstrated low reagent consumption and low power requirements; Both these factors will result in materially lower operating costs

-          The latest test results will be used in the Evion Scoping Study underway on a downstream graphite processing plant

-          Evion proposes to build the plant in Europe, where it would supply feedstock for battery anode manufacturers

-          The recently completed Maniry Definitive Feasibility Study found the project will be technically robust and deliver strong financial returns (see ASX release dated November 3, 2022)

-          Evion has signed a non-binding offtake agreement with Urbix Resources Inc, USA under which Evion would provide 15,000Mtpa of product from Maniry to feed Urbix’s early-stage production of anode material for the EV industry (see ASX release dated December 19, 2022)

-          The Agreement would account for ~40% of Maniry’s initial production, leaving sufficient product to also supply Evion’s proposed processing plant in Europe

 

Evion Group NL  (ASX: EVG) is pleased to report outstanding test results which further underpin the Company’s strategy to establish a standalone downstream graphite processing business to supply the lithium battery industry in Europe.

 

The test work by leading German battery mineral consultancy Dorfner ANZAPLAN confirmed the suitability of a hydrofluoric acid-free technology to purify Maniry graphite concentrate into a battery-grade product, with results of up to 99.99% fixed carbon (FC). The concentrate sample used (Maniry fine -195) was obtained from the large-scale pilot program completed in 2021. (Refer ASX: EVG Release “Completion of the Maniry Graphite Pilot Program Delivers Outstanding Results for BlackEarth” – 9 August 2021).

 

Evion MD Tom Revy said: “These are exceptionally strong results which are well in excess of the fixed carbon grades adopted as a standard benchmark in the lithium battery industry.

 

“The results show Maniry graphite is perfectly suited for use in lithium batteries and can be processed into the required form using an environmentally-friendly process which also requires less energy than more conventional processes.

 

“We will feed these results into the scoping study on the processing plant we are proposing to build in Europe. This plant will supply processed graphite as a feedstock to the battery anode makers”.

 

The test results follow Evion’s recent announcement of a non-binding offtake agreement with Urbix Resources Inc, USA under which Evion would provide 15,000Mtpa of product from Maniry to feed Urbix’s early-stage production of anode material for the EV industry

 

This Release was made with the Approval of the Board’s disclosure committee.

 

CONTACTS

 

Tom Revy – Managing Director, EVION Group NL 08 6145 0289 | 0411 475 376

David Round – Finance Director, EVION Group NL 0411 160 445

Paul Armstrong, Read Corporate - Investor and Media Relations       08 9388 1474

 

Forward Looking Statement

 

Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Evion Group operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement.

 

No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside the Company’s control.

 

The Company does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of the Company’s Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.

 

This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by the Company. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.