Evion Group Articles
EVG Share Price & Investment Performance
Investment Summary
- Date of Investment Announcement 12th May 2026
- Entry Price $0.03
- Returns from Entry +0%
- High Point +0%
Company Milestones
- Panthera expandable graphite shipping commercially (March 2025)
- Maiden US sales order
- EU Strategic Project status granted to Maniry (June 2025)
- CARP Fluorspar Project acquired (May 2026)
- Maniry mining permits granted
- Panthera Stage 2 expansion online
- Maniry EU funding pathway
- CARP confirmation sampling
- CARP maiden drill program
- First mineral resource at CARP
- Battery anode plant pathway (Germany)
Why We Like Evion Group
A second critical mineral and a US domestic footprint, bolted onto a platform that’s already shipping graphite into the US and Europe
Evion has built a non-Chinese critical minerals platform across three continents. The Nevada acquisition adds a second commodity.
CARP is a historically producing fluorspar asset on US government ground, about 140km northeast of Las Vegas. The old Wells Fargo Mine pulled out 44,900 tonnes at 69% CaF₂ between 1958 and 1971. Modern channel sampling has come back with grades up to 88%, and mineralisation is still open at depth and along strike.
The US has produced essentially no fluorspar since 1990 and imports 100% of what it uses. In January 2026 the Pentagon signed a contract worth up to US$250 million with the only existing domestic producer to bring supply back online.
Panthera, Evion’s JV with Metachem near Pune, has been shipping expandable graphite since March 2025 at prices above US$3,000 a tonne. A Stage 2 expansion is going in now.
The Maniry flake graphite mine in Madagascar has a completed feasibility study and a 21-year mine life. The EU has named it a Strategic Project, the only African graphite project on the list. Final mining permits are in active discussions with the Mines Ministry.
CARP is early. Historic production and surface samples don’t equal a current resource. The recent capital raise carries options that will hit the register over the next three years if exercised.
Why Fluorspar?
Fluorspar (calcium fluoride, CaF₂) is the world’s only commercial source of fluorine. It sits inside hydrofluoric acid and most modern fluorine chemistry.
It goes into steel and aluminium production, battery electrolytes, semiconductor etching, uranium enrichment, refrigerants and pharmaceuticals.
China produces around 59% of global supply. The US has produced essentially none since 1990 and imports 100% of what it uses. Australia, Canada, Japan, the EU and the US have all named it a critical mineral.
Demand keeps building, especially from EVs and semiconductors.
Why Graphite?
Graphite is the carbon material that sits inside every lithium-ion battery anode. No graphite, no batteries.
It also goes into steel, fire retardants, brake linings, lubricants, and a long list of industrial uses. The expandable graphite that Panthera produces has particular pull in defence, aerospace, energy storage and electronics.
China controls more than 60% of global natural graphite supply and nearly all of the processing. In October 2023 it tightened export controls on graphite products, which pushed Western buyers to start hunting for non-Chinese supply in a hurry.
The EU, US, Australia and most Western economies have named graphite a critical mineral. Madagascar is the largest natural graphite exporter outside China.
Evion's Critical Minerals Platform
Evion runs four pieces of one supply chain.
Maniry is the flagship. It’s a flake graphite mine in southern Madagascar with a completed feasibility study and a 21-year mine life. The EU has named it a Strategic Project, the only African graphite project on the list. Final mining permits are with the Madagascar Mines Ministry, with approval expected shortly.
Panthera is the JV with Metachem near Pune in India. It’s been shipping expandable graphite since March 2025 at prices above US$3,000 a tonne against costs around half that. A Stage 2 expansion is going in now to lift output. Evion is the only ASX-listed company producing expandable graphite.
In Germany, a scoping study has been done for a battery anode plant that would take graphite from Maniry and turn it into the material that goes inside lithium-ion batteries.
In Nevada, CARP is the new one. The old Wells Fargo Mine on this ground pulled out 44,900 tonnes of fluorspar between 1958 and 1971. Surface sampling in 2024 came back stronger than the historic average. Modern drilling hasn’t been done yet.
The Key Points of Interest
- CARP Fluorspar Project on US government ground in Nevada
- Historic mine on the same ground produced 44,900 tonnes of fluorspar between 1958 and 1971
- Surface sampling in 2024 came back with grades above the historic average
- Maniry flake graphite mine in Madagascar with 21-year mine life
- The only African graphite project recognised as an EU Strategic Project
- Panthera JV in India shipping expandable graphite at over US$3,000 a tonne
- The only ASX-listed expandable graphite producer
- Qualifies for US battery supply chain tax credits under the Inflation Reduction Act
EVG in Summary
Evion is building a full critical minerals supply chain that runs end to end and sits entirely outside China.
Madagascar has the graphite mine with EU backing. India has the processing plant that’s already shipping product and making cash. Germany has the battery anode plant at scoping stage. Nevada is the new one, fluorspar on US government ground.
The Nevada asset still needs proper drilling. The recent capital raise carries options that will hit the register over the next three years if exercised.
Disclaimer: This blog post is for informational purposes only and should not be considered as financial advice. Always consult with a financial advisor before making any investment decisions.