Nanocap Evion flags first graphite shipment made to US from India
While it only netted A$400,000 under a 50/50 joint venture (implying a price of A$800,000 altogether), Evion Group (ASX:EVG) has shipped its first batch of expandable graphite to the U.S. from Pune, India – with the company reporting it expects prices to climb.
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“The shipments reflect growing U.S. demand for secure, non-Chinese sources of critical minerals with negotiations continuing to regularly supply the U.S. and other global buyers in Europe,” Evion wrote on Thursday.
(It didn’t mention Trump’s recently announced imposition of +50% tariffs on India.)
“We’re very pleased to conclude a number of strategically important sales and shipments over the last six weeks,” EVG MD David Round said.
“We see these shipments to the US and others to Europe as the commencement of strong and regular supplies as global markets face extreme shortages for many graphite products due to the restriction on exports from China, and buyers focus on a reliable and regular supply of world-class material.”
The rest of Thursday’s disclosure was spent talking about international defence thematics and the need for graphite in the manufacturing of military hardware, which is quite common to see at the moment, tacked onto the bottom of critical minerals’ explorers’ disclosures.
EVG last traded at 3.1cps.
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