Evion Group (EVG) Q4 2025 TU earnings summary

Executive summary

• Maniry Graphite Project in Madagascar received EU Strategic Project status, the only such graphite project in Africa, enhancing its profile as a critical minerals supplier.

• JV in India secured a maiden US order for 80 tonnes of expandable graphite, expected to generate A$400,000 in revenue next quarter.

• Cash balance at quarter end was $1.027 million, providing a short-term funding runway.

• Applications submitted for highly prospective copper projects in Madagascar to expand the critical minerals portfolio.

Financial highlights

• Net cash used in operating activities for the quarter was $580,000, mainly for marketing, conferences, consultants, and staff costs.

• $188,000 spent on exploration, primarily for Maniry Project development.

• $192,000 contributed to the Indian JV project during the quarter.

• No mine production or development expenditure during the quarter.

• Cash and cash equivalents at quarter end stood at $1.027 million.

Outlook and guidance

• Substantial increases in JV production, shipments, and revenue expected for the remainder of 2025 as operational bottlenecks are resolved.

• Stage 2 expansion at the Indian JV facility to increase capacity to 4,000–4,500 mt pa, targeting US$13.5–15.0m annual gross revenue.

• Ongoing engagement with EU for grant funding and comprehensive development plan for Maniry.

• Anticipated formal approval of copper tenements and further exploration in Madagascar.