Evolution Energy Minerals Limited (Evolution or the Company) (ASX: EV1, FSE: P77) has engaged Treadstone Resource Partners as strategic and financial advisors to coordinate and broaden the ongoing strategic investor process. The Company aims to secure additional financing support for the development of the Chilalo Graphite Project (Chilalo). Board changes have been initiated to increase Board independence with Managing Director, Phil Hoskins, transitioning to the role of Chief Executive Officer.
Following recent changes in the global graphite and anode supply chain, along with the validation provided by BTR's investment and offtake arrangements, the Company has seen increased inbound interest from strategic investors. I am pleased with the level of graphite market understanding demonstrated by these interested parties, acknowledging that coarse flake graphite, such as that which will be produced at Chilalo, is essential for the economic viability of graphite mines. There is a significant amount of technical and project information available for potential investors to review, and I am confident that the strategic process will generate significant investment interest.
Evolution Energy Minerals Limited has engaged Treadstone Resource Partners to coordinate and broaden the ongoing strategic investor process, aiming to secure additional financing support for the development of the Chilalo Graphite Project. The Company is focused on progressing Chilalo through to a Decision to Mine and has advanced the debt financing process with reports from independent technical engineers and environmental and social consultants completed in Q1 2024. The primary objective is to attract strategic funding that supports the intended debt financing for the development of the Chilalo project. The Board changes initiated aim to increase the number of independent directors, with Managing Director, Phil Hoskins, transitioning to the role of Chief Executive Officer. The Company is open to considering a range of strategic alternatives should they deliver the best outcome for shareholders. Evolution's vision is to become a vertically integrated company that will only supply sustainably sourced graphite products and battery materials, supporting the push for decarbonisation and the global green economy.