The Company has successfully fast tracked its flagship Maniry graphite project in Southern Madagascar, to the completed Bankable Feasibility Study (BFS) Stage, in 4.5 years.
Graphite from the Maniry Project has met specifications consistent with those required by Tier 1:- Expandable graphite markets- Refractory industry participants- Lithium-ion anode material manufacturers.
The Company completed the Maniry DFS in November 2022.
Focus during Feasibility Study (BFS):
- Maniry to be developed in compliance with IFC Performance Standards on environmental and social sustainability
- Demonstrated a financially attractive Project
- Build a Project that is technically robust to cater for different specifications for different customers
- Ensure that all stakeholders were consulted throughout the DFS process
Project Life
21 years
NPV@8% pre-tax
US$263 million
IRR pre-tax
33 %
Payback for stage 1&2
3.8 years
Stage 1
Project CAPEX
US$79 million
Stage 2
Project CAPEX
US$25 million
Annual Graphite Production
av35-45ktpa
Stage 1 – Years 1-3
av50-60ktpa
Stage 2 – Years 4+
EVION
Creating value towards a responsible and sustainable future.
Global Mineral Resource Inventory Estimate as at August 2022
Area | Classification | Tonnes (Mt) | Total Graphitic Carbon (%TGC) | Contained Graphite (tonnes) |
Razafy | Indicated | 13.6Mt | 6.5% | 890,000 |
Inferred | 12.1Mt | 5.9% | 720,000 | |
Razafy NW | Indicated | 3.1Mt | 8.6% | 266,000 |
Inferred | 2.2Mt | 8.6% | 186,000 | |
Haja | Indicated | - | - | - |
Inferred | 9.0Mt | 5.8% | 522,000 | |
TOTAL | Indicated | 16.7Mt | 6.9% | 1,156,000 |
Inferred | 23.3Mt | 6.1% | 1,428,000 | |
Total Ore Reserves | Probable | 16.2Mt | 6.58% | 1,100,000 |
Project Upside
Objective
Positive Outcome
Futher development into the potential downstream processing of coarse flake material
Significantly increase project revenue
Exploration in the high grade northwest zone of Maniry
Early high grade feed can substantially increase project NPV/IRR and add to mine life
Optimisation of flowsheet to further enhance recovery of the coarse flake material
Increase project revenue
Increase green energy
Lower carbon footprint and operating cost
Improvements to main transport route and port facilities
Lower carbon footprint and operating cost
Evion's Maniry Graphite Project has been recognised as a Strategic Project by the European Union under the EU's Critical Raw Materials Act.
Next Steps
Evion Group’s in-country development team, led by Lydia Boarlaza, is currently focused on finalising permits and licensing with local authorities, progressing discussions with EU stakeholders, and securing offtake and funding partnerships that will help bring Maniry into production.
In December 2024 and then again in January 2025, the Mines Minister of Madagascar formally endorsed the conversion of our remaining Exploration ("PR") licenses to Exploitation ("PE") licenses that permit us to develop and mine graphite.
The final official conversion of our PR’s to PE’s will occur following a series of site visits from ONE officials (Office of National pour l’Environnement).
