Australia's Evolution Energy jumps on agreements settlement with Tanzania govt

Evolution Energy Minerals

08/03/2023 01:45

** Shares of Evolution Energy Minerals Ltd  EV1.AX  jump as
much as 26.4% to A$0.355, set for their best day since Sept. 29,
if gains hold
    ** Mineral explorer says framework agreement and shareholder
agreement are now in a form that has been agreed with Tanzanian
govt
    ** Co says agreements are in relation to ownership,
development and management of its Chilalo Graphite Project in
South-Eastern Tanzania
    ** Adds, agreements provide reissued 10-year term to mining
licence and reissued terms for all prospecting licences
    ** EV1 says a new JV co, Kudu Graphite Limited, has been
established, owned 84% by co indirectly and 16% by Tanzanian
govt
    ** Stock at its highest level since Feb. 6
    ** Stock up ~18% this year, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))