Evion Group (EVG) Q4 2024 TU earnings summary

Executive summary

• Completed equipment testing at the India JV expandable graphite facility, enabling imminent full-scale production.

• All permits, infrastructure, and treatment plants are in place for full production capacity.

• Strategic planning underway to expand production and potentially double sales and revenue due to strong demand.

• Secured concentrate supply for the rest of 2024, ensuring supply and pricing stability.

• Appointed new Managing Director and board members, and key mine development advisor for Madagascar operations.

Financial highlights

• Closed the quarter with $1.95 million in cash and deposits, with no debt.

• Payments to related parties totaled $157,000 for the quarter, covering director and management remuneration.

• Net cash used in operating activities was $537,000 for the quarter.

• Net cash used in investing activities was $16,000 for the quarter.

• Estimated four quarters of funding available at current cash burn rate.

Outlook and guidance

• Production at the India JV facility expected to ramp up to at least 150 tonnes in the short term.

• Plans in place to further expand production to meet growing demand, especially outside China.

• Ongoing efforts to secure binding offtake agreements and project financing for Madagascar operations.

• Key short-term goals include doubling India JV production, finalizing Maniry project approvals, and advancing licensing and financing.