Transformational offtake, funding and downstream collaboration
Battery suitability
Premium quality CSPG produced from fines
Vertically integrated strategy
Accelerated and de-risked partnership model with proven technology
Flake Size Price Premium
Evolution Product Flake Size
10% +32
21% +50 mesh
27% +80 mesh
6% +100
36% -100 mesh
58% +80 mesh
Large, High-Grade Mineral Resource Potential for Multi-decade mine life
New discoveries provide scope to define additional near-surface deposits to grow the mineral resource/ore reserve.
In early 2023, Evolution discovered two new high-grade mineralised zones – Chilalo East and Chilalo E2. High-grade mineralisation at Chilalo East has been defined over 1.6km out of a potential 3.5km strike length indicated by the high-conductance electromagnetic conductor.
At Chilalo E2, located to the east of Chilalo Mining Licence and parallel to the north of Chilalo East, 1.1km out of a potential 5km strike has been tested so far with mineralisation open to the east and west.
Mineral Resource Estimate
Domain
Classification
Tonnes (Mt)
Grade TGC%
Contained Graphite (kt)
High-Grade Zone
Indicated
10.3
10.5
1082
Inferred
9.8
9.3
908
Total High-grade Mineral Resource
Indicated & Inferred
20.1
9.9
1,991
Low-grade zone
Inferred
47.3
3.5
1,677
Total Mineral Resource
Indicated & Inferred
67.3
5.4
3,667
Ore Reserves
Domain
Classification
Tonnes (Mt)
Grade TGC%
Contained Graphite (kt)
Chilalo
Proved
-
-
-
Probable
8.0
10.5
836
Total Ore Reserve
Total
8.0
10.5
836
Increased mineral resource = Increased mine life & NPV
33km of high-conductance targets only partially drilled
Physicals
Unit
DFS Outcomes
Mine life
Years
17
Total plant feed
Mt
8.3
Annual plant feed
ktpa
500
Average head grade
TGC %
10.6%
Average graphite concentrate production
ktpa
52
Steady state expandable graphite sales
ktpa
12
Steady state micronised graphite sales
ktpa
8
Project Financials
Unit
DFS Outcomes
NPV8 (post-tax)
US$M
338
IRR (post-tax)
%
32%
Payback period (post-tax)
years
3.3
Pre-production capital cost (incl. contingency)
US$M
119.7
Average annual EBITDA
US$M
82
Average sales price (FOB) per tonne of concentrate
US$
1,614
Operating costs per tonne of concentrate
US$
773
Operating margin per tonne of concentrate
US$
841
Results of 2023 DFS
Product Quality Globally Significant Flake Size
High % coarse flake
(58% > +80 mesh)
DFS-level testwork
Pilot plant scale-up, cross-checked by two labs
Robust project
Flake size distribution drives high margins
High-value applications
Unique Chilalo signature confirmed suitability for graphite foil and battery anodes
