Tanzanian Gov discussions, improved DFS coming by September

Investment Memo: EV1 2022

Objective: Final Construction Decision & Project Funding

Milestones: FEED - Appoint Engineer: 🔲 → 🔄

EV1 is advancing a Framework Agreement with the Government of Tanzania around their free-carried interest in EV1’s Chilalo project.

This should further aid project financing discussions as there will be more certainty around economic metrics.

EV1 says its DFS optimisation should be complete by September, with an engineer to be engaged this month for Front End Engineering Design. We expect the economics to improve with rising graphite prices and ESG elements to also be included.

We’ve updated the Key Objectives from our EV1 Investment Memo accordingly: