Australia's Evolution Energy Minerals rises on JV with Yichang Xincheng

Evolution Energy Minerals

29/09/2022 02:47

** Shares of Australia's Evolution Energy Minerals Ltd
 EV1.AX  rise as much as 28.3% to A$0.295, marking their
sharpest intraday pct gain 
    ** Stock hits highest levels since Sept 23
    ** The graphite explorer executes a binding term sheet for a
joint venture with Yichang Xincheng Graphite  urn:newsml:reuters.com:*:nASXbFcFJT
    ** Evolution Energy says JV to help downstream processing of
coarse flake concentrate from the co's Chilalo graphite project
in southeast Tanzania 
    ** Co to process coarse flake into graphite products such as
bi-polar plates and seals for electric vehicles 
    ** Stock down 47.3% YTD, as of last close 
 
 (Reporting by Nausheen Thusoo)
 ((Nausheen.Thusoo@thomsonreuters.com;))