EcoGraf (EGR) Q1 2027 TU earnings summary

Executive summary

• Epanko expansion engineering identified potential Stage 1 output growth of 20%, to 87,600tpa, while reducing estimated unit costs; 73,000tpa remains the debt-financing base case.

• The vertically integrated plan spans Tanzanian graphite mining and shaping, European HFfree® purification, and battery-anode recycling; strategic equity and offtake discussions continued across these activities.

• Quarter-end cash was A$1.767m; an A$4.727m capital raising completed in October to support financing, studies and exploration.

Financial highlights

• Operating cash outflow was A$1.330m and investing cash outflow A$0.720m in the quarter; cash and cash equivalents ended at A$1.767m.

• October capital raise totalled A$4.727m: A$3.552m via the Share Purchase Plan and A$1.175m via placement, at A$0.222 per share.

• Evaluation and exploration expenditure was A$0.7m, primarily associated with Epanko activities.

Outlook and guidance

• Further engineering studies, supported by EIB Technical Assistance, will assess the potential 87,600tpa case; updated NPV and IRR for that case have not been quantified.

• EIB grant-funded workstreams provide up to €2m (A$3.2m) for technical, environmental, social and market studies covering Epanko expansion and integrated Midstream and Downstream pathways.

• The current debt-financing case remains the 73,000tpa Updated BFS; the project is working toward financing completion and a Final Investment Decision.

• Planned staged graphite concentrate capacity is 73ktpa at Stage 1, 130ktpa at Stage 2, 260ktpa at Stage 3 and 390ktpa at Stage 4.