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Resources Stocks Down Under 10 February 2022: Evolution Energy Minerals (ASX:EV1)
Evolution Energy Minerals: Graphite and Tanzania are both back
In today’s edition of Resources Stocks Down Under, Evolution Energy Minerals is a developer of a graphite project in Tanzania. It had a great start to its listed life in late 2021. An oversubscribed IPO raised $22m at 20 cents per share, but the stock closed the first day, 16 November, at 62 cents. And no wonder. Graphite demand is coming back after the 2019 lows and the Definitive Feasibility Study for Evolution Energy’s Chilalo Project gave it an NPV of US$323m. With Evolution Energy stock now stabilising in the low 40’s we think it’s worth looking at.
Click here to read the previous edition of Resources Stocks Down Under published 3 February 2022