The shares of Evolution Energy Minerals soared after going public. Picture: Getty Images Handout
Graphite play Evolution Energy Minerals (ASX:EV1) has soared 225% since its listing on the exchange today.
The company is a spin-off company of Marvel Gold (ASX:MVL) graphite assets. It has been warmly welcomed by investors before going public. Its oversubscribed initial public offering raised a considerable amount of US$22 million, far higher than the minimum of 1300 Ten thousand U.S. dollars. seek.
The outstanding performance of Evolution made it one of the best performing IPOs this year, second only to Kuniko (ASX:KNI) and its jaw-dropping 740% increase. Lithium Energy (ASX:LEL) increased 390% and Australasian Gold (ASX:A8G) rose 265%, while 92 Energy (ASX:92E) rose 245%.
With the exception of 92 Energy and its uranium focus, all of these involve the battery metal industry.
This performance is also much higher than the average return of 25% of all ASX IPOs in 2021 (not including Evolution itself).
This is undoubtedly due to the rapid growth in demand for graphite and other battery metals. Graphite actually accounts for most of the active materials for lithium-ion anodes, and it is hoped that projects such as the Chilalo project in Tanzania can provide reliable solutions. Replace Chinese resources.
Chilalo is a high-grade deposit, most of which (60%) manifests as very large natural flake graphite.
This means that it can not only meet the growing demand for battery anode materials, but also larger flakes can also be used for expandable graphite, which can be pressed into sheets and used for heat insulation and fire protection, with applications ranging from building materials to consumption Electronic products and fuel cells.
Its relative rarity also means that the price of large flake graphite is very high.
Chilalo and its 20.1 million tons of resources (9.9% of the total graphitic carbon) are also in a very advanced stage.
Marvel’s previous work means that final feasibility studies, environmental approvals and mining licenses are in place, allowing Evolution to focus on advancing front-end engineering and design research to make final investment decisions.
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August 11, 2021
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