Just the facts: Evolution Energy prepares for Final Investment Decision on Chilalo

Proactive - Interviews for investors

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Evolution Energy Minerals Ltd (ASX:EV1). EV1 is progressing towards a Final Investment Decision (FID) for its Chilalo Graphite Project in Tanzania, following a review of its updated definitive feasibility study (DFS). The review confirmed the project's economic viability and identified potential operational improvements. These include considering Mtwara Port for logistics, integrating gas and solar power solutions and exploring the use of patented technology from Pure New World to upcycle project tailings into building materials. The company is also advancing its search for a new CEO and preparing the Chilalo site for rapid development post-FID, expected to be finalised next year. Evolution Energy expressed confidence that the assumptions in the DFS remain valid, reassuring financiers evaluating the project. Additionally, the company is exploring further cost management and phased enhancements. In Tanzania, Evolution Energy is working with the local community to prepare the Chilalo site for construction, including roadworks and site layout design. It has begun follow-up exploration on target zones identified in September 2023, aiming to expand the resource and conduct infill drilling for an updated mineral resource estimate. The company is also investigating a newly discovered copper anomaly, viewing it as a promising new prospect. #ProactiveInvestors #EvolutionEnergyMinerals #ASX #ChilaloGraphiteProject #GraphiteMining #DefinitiveFeasibilityStudy #Tanzania #MiningExploration #FID #MineralResources #SustainableMining #SolarPower #MtwaraPort #CopperAnomaly #MiningOperations #MiningInvestment #SiteDevelopment #Exploration #InfillDrilling #CostManagement #GraphiteIndustry #MiningUpdates