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Evolution Energy Minerals Limited (AU:EV1)
ASX:EV1

Evolution Energy Minerals Limited (EV1) AI Stock Analysis

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AU:EV1

Evolution Energy Minerals Limited

(Sydney:EV1)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
AU$0.02
▲(120.00% Upside)
The score is primarily weighed down by weak financial performance (pre-revenue with ongoing losses and negative free cash flow that continues to erode equity). Technicals are supportive due to price strength above key moving averages and a positive MACD, but the extremely high RSI indicates the move may be overstretched. Valuation is constrained by negative earnings and the absence of a dividend yield.
Positive Factors
Strategic battery-materials exposure
Evolution targets natural graphite for lithium-ion battery anodes via the Chilalo project. This aligns the company with secular EV and energy-storage demand, providing a structurally growing end-market and potential long-term offtake relevance if the project reaches production and quality specifications.
Conservative leverage (no debt)
A debt-free balance sheet reduces fixed financial obligations, lowering insolvency risk during development phases and preserving strategic optionality to sequence project investment. This durable capital-structure conservatism supports operational flexibility while the firm pursues funding for development stages.
Improving loss and cash-burn trajectory
Year-over-year reduction in net loss and cash burn indicates management progress on cost control and operational efficiency. A sustained improvement trend reduces near-term financing pressure, lowers dilution risk over time, and strengthens the company's ability to advance development work with fewer external raises.
Negative Factors
Pre-revenue business model
Being pre-revenue means the firm has no operating cash inflows from product sales, so project economics remain unproven at scale. This structural stage requires continued capital support to reach production and increases execution risk tied to permitting, construction and eventual commercial uptake.
Persistent negative operating and free cash flow
Repeated negative OCF and FCF imply ongoing reliance on external funding to cover operations and development. Over months this erodes equity, forces recurring capital raises, and can delay project milestones if markets tighten, creating a durable funding and execution risk for a development-stage miner.
Eroding equity and historical capital stress
Declining equity over multiple years and prior episodes of negative equity highlight a structural erosion of the balance-sheet buffer. Continued losses reduce financial resilience, increasing the probability of future dilutive raises and constraining the company's capacity to absorb cost overruns or slower project timelines.

Evolution Energy Minerals Limited (EV1) vs. iShares MSCI Australia ETF (EWA)

Evolution Energy Minerals Limited Business Overview & Revenue Model

Company DescriptionEvolution Energy Minerals Limited engages in the acquisition, exploration, and development of mineral properties. It holds interest in the Chilalo graphite project located in southern Tanzania. Evolution Energy Minerals Limited was incorporated in 2021 and is based in West Perth, Australia.
How the Company Makes MoneyEvolution Energy Minerals Limited generates revenue primarily through the extraction and sale of graphite. The company's revenue model is centered around identifying and developing high-quality graphite deposits, which are then mined and sold to manufacturers and industries that require graphite for the production of batteries, lubricants, refractories, and other industrial applications. Key revenue streams include direct sales of graphite to battery manufacturers and other industrial clients. Additionally, the company may engage in partnerships or joint ventures with other firms to enhance its production capabilities and market reach, thereby contributing to its earnings. Factors such as global demand for energy storage solutions and advancements in renewable energy technologies significantly influence the company's revenue potential.

Evolution Energy Minerals Limited Financial Statement Overview

Summary
Income statement remains very weak with no revenue and persistent losses despite improvement (net loss narrowed in FY2025). Cash flow is a key drag with ongoing negative operating cash flow and free cash flow, implying continued reliance on external funding. Balance sheet is healthier near-term with no debt and positive equity, but equity has been shrinking over multiple years due to cash burn.
Income Statement
12
Very Negative
The company reports no revenue across the period provided, while losses remain material. Net loss improved from -11.1M (FY2024) to -4.7M (FY2025), indicating progress on cost control, but profitability is still deeply negative with negative gross profit and negative operating earnings in every recent year. Overall, the income profile reflects a pre-revenue/early-stage business with improving—but still weak—earnings quality.
Balance Sheet
48
Neutral
Leverage looks conservative in recent years with total debt at 0 and a positive equity base (FY2025 equity ~5.0M vs. assets ~5.9M). However, equity has been shrinking year-over-year (from ~10.4M in FY2022 to ~5.0M in FY2025), consistent with ongoing losses and cash burn. A key historical risk is that FY2021 showed negative equity and meaningful debt, highlighting that the capital structure has been stressed before despite improvement since.
Cash Flow
18
Very Negative
Cash generation remains weak: operating cash flow and free cash flow are consistently negative, with FY2025 operating cash flow of about -5.1M and free cash flow about -5.2M. The cash burn rate improved versus FY2024 (free cash flow roughly -10.7M), but the business still relies on external funding to sustain operations. Free cash flow tracks net loss closely (free cash flow to net income ~1.0), suggesting reported losses are largely reflected in cash outflows rather than being cushioned by non-cash items.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit0.00-44.52K-17.95K-12.12K-4.19K-21.35K
EBITDA-3.88M-5.70M-10.56M-13.54M-7.87M1.74M
Net Income-4.66M-4.73M-11.06M-13.89M-8.86M-353.83K
Balance Sheet
Total Assets7.35M5.88M8.78M10.18M10.82M5.06M
Cash, Cash Equivalents and Short-Term Investments1.17M81.89K3.07M4.44M5.37M22.45K
Total Debt0.000.000.000.000.008.73M
Total Liabilities765.61K787.71K615.85K1.09M461.30K8.81M
Stockholders Equity6.36M4.98M7.68M9.09M10.36M-3.75M
Cash Flow
Free Cash Flow-8.61K-5.16M-10.67M-13.43M-5.61M-363.06K
Operating Cash Flow-8.47K-5.08M-10.60M-13.40M-5.56M-363.06K
Investing Cash Flow-141.75K-85.21K-65.24K-29.27K-45.02K0.00
Financing Cash Flow8.28M2.17M9.35M12.32M11.18M0.00

Evolution Energy Minerals Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.01
Price Trends
50DMA
0.01
Positive
100DMA
0.01
Positive
200DMA
0.01
Positive
Market Momentum
MACD
<0.01
Negative
RSI
96.39
Negative
STOCH
42.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EV1, the sentiment is Positive. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 96.39 is Negative, neither overbought nor oversold. The STOCH value of 42.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:EV1.

Evolution Energy Minerals Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
55
Neutral
AU$31.14M-1.12-80.21%-69.98%
46
Neutral
AU$10.22M-1.91-74.67%71.25%
45
Neutral
AU$16.80M-1.06-71.65%
44
Neutral
AU$10.96M-1.98-56.10%44.90%
43
Neutral
AU$7.36M-0.57-72.76%-1.73%
43
Neutral
AU$3.78M-1.19-81.85%-58.49%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:EV1
Evolution Energy Minerals Limited
0.02
<0.01
10.00%
AU:MQR
Marquee Resources Ltd
0.01
0.00
0.00%
AU:AKN
AuKing Mining Ltd
0.01
<0.01
20.00%
AU:GRE
Greentech Metals Ltd.
0.12
0.06
93.55%
AU:SVY
Stavely Minerals Ltd
0.02
>-0.01
-5.88%
AU:G88
Golden Mile Resources Ltd.
0.01
0.00
0.00%

Evolution Energy Minerals Limited Corporate Events

Evolution Energy Minerals Advances Chikundo Copper Exploration and Progresses Chilalo Graphite Development in Tanzania
Jan 29, 2026

In the December 2025 quarter, Evolution Energy Minerals concentrated on advancing exploration at its Chikundo Copper Project, strengthening its balance sheet and continuing regulatory engagement for its Chilalo Graphite Project in Tanzania. The company launched a large-scale soil sampling campaign at Chikundo across three priority prospects, collecting hundreds of samples to support a volcanogenic massive sulphide (VMS) geochemical model and refine targets for a planned 2026 reverse circulation drilling program. At the corporate level, Evolution retired nearly all outstanding creditors, tightened administrative overheads and appointed Satoshi Capital Advisors to help identify funding pathways for Chilalo, while maintaining active dialogue with the Tanzanian Mining Commission over Mining Licence ML 716/2023 and working toward an updated development schedule that targets initial ore mining by October 2027, signalling ongoing progress but also highlighting the regulatory and financing steps still required before full-scale development.

The most recent analyst rating on (AU:EV1) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Evolution Energy Minerals Limited stock, see the AU:EV1 Stock Forecast page.

Evolution Energy Minerals Advances Chikundo Copper Project with Completion of Soil Sampling
Jan 26, 2026

Evolution Energy Minerals has completed a systematic soil sampling programme at its Chikundo Copper Project within the Chilalo tenure in southern Tanzania, collecting 1,558 samples across the Chikundo, Chikundo East and Nangurugai prospect areas as part of its data-driven exploration strategy targeting a district-scale VMS-style copper system. The company is now conducting internal quality assurance checks before sending samples to SGS Laboratories in Johannesburg for detailed geochemical analysis, and is concurrently designing an initial reverse circulation drilling campaign of 1,500–3,000 metres for 2026, signalling a move toward more advanced exploration that could refine its geological model and potentially enhance its position in emerging Tanzanian copper districts.

The most recent analyst rating on (AU:EV1) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Evolution Energy Minerals Limited stock, see the AU:EV1 Stock Forecast page.

Evolution Energy Minerals Outlines Graphite and Copper Growth Priorities in MD Interview
Jan 13, 2026

Evolution Energy Minerals has highlighted its dual focus on graphite and copper growth in a recent interview with Managing Director Craig Moulton, which is now accessible via the company’s website. The discussion outlines near-term priorities, including exploration plans at the Chikundu VMS Copper Project and continued development work at the advanced Chilalo Graphite Project in Tanzania, reinforcing the company’s strategy to build a pipeline of critical metal assets aligned with the energy transition, while confirming that no new material information beyond previously announced disclosures has been provided.

The most recent analyst rating on (AU:EV1) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Evolution Energy Minerals Limited stock, see the AU:EV1 Stock Forecast page.

Evolution Energy Engages Satoshi Capital for Chilalo Project Funding
Dec 14, 2025

Evolution Energy Minerals Limited has engaged Satoshi Capital Advisors as its financial advisor to secure funding for the Chilalo Graphite Project. Satoshi will explore funding opportunities in North America, Asia-Pacific, and European markets, aiming to provide structured capital solutions for the project’s development. This engagement does not guarantee funding, as it remains subject to market conditions and other factors.

Evolution Energy Minerals Announces Director’s Interest Change
Dec 9, 2025

Evolution Energy Minerals Limited announced a change in the director’s interest, with Director Gemma Cryan acquiring 2,500,000 unlisted options as part of her remuneration package. This issuance, approved at the 2025 Annual General Meeting, reflects the company’s commitment to aligning director incentives with shareholder interests, potentially impacting the company’s governance and stakeholder relations.

Evolution Energy Minerals Updates Director’s Interest
Dec 9, 2025

Evolution Energy Minerals Limited announced a change in the director’s interest, with David Naoum acquiring 2,500,000 unlisted options as part of his remuneration package. This issuance of options, approved at the 2025 Annual General Meeting, reflects the company’s strategy to align director incentives with shareholder interests, potentially impacting the company’s governance and stakeholder confidence.

Evolution Energy Minerals Updates Director’s Interest
Dec 9, 2025

Evolution Energy Minerals Limited announced a change in the director’s interest, with Craig Moulton acquiring 7,500,000 unlisted options as part of his remuneration package. This issuance of options, approved at the 2025 Annual General Meeting, reflects the company’s commitment to aligning management incentives with shareholder interests, potentially impacting its operational strategy and market positioning.

Evolution Energy Minerals Updates Director’s Securities Holdings
Dec 9, 2025

Evolution Energy Minerals Limited has announced a change in the director’s interest in securities, specifically regarding Paul Atherley. The company issued 7,500,000 unlisted options to Atherley as part of his remuneration package, following shareholder approval at the 2025 Annual General Meeting under the company’s Employee Securities Incentive Plan. This change reflects an adjustment in the director’s holdings, potentially impacting the company’s governance and signaling confidence in its strategic direction.

Evolution Energy Minerals Limited Issues Unlisted Options
Dec 9, 2025

Evolution Energy Minerals Limited has announced the issuance of 20,000,000 unlisted options, exercisable at $0.02 and expiring on December 9, 2027. This move is part of an employee incentive scheme and is not intended for public trading on the ASX, potentially impacting the company’s internal stakeholder engagement and retention strategies.

Evolution Energy Advances Soil Sampling at Chikundo Copper Project
Dec 7, 2025

Evolution Energy Minerals Limited has made significant progress in its soil sampling program at the Chikundo Copper Project within the Chilalo project area in Tanzania. The program, which began on November 24, 2025, has seen the deployment of three field teams collecting 603 samples as of December 2. The sampling is being conducted across three priority zones, with ideal field conditions facilitating rapid progress. This initiative is part of Evolution’s strategic efforts to enhance its mineral exploration capabilities, potentially strengthening its position in the mining sector.

Evolution Energy Minerals Secures Shareholder Approval for Strategic Resolutions
Nov 27, 2025

At the 2025 Annual General Meeting of Evolution Energy Minerals Limited, all twelve resolutions were passed, including the election of directors and the approval of various options and placement capacities. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives, potentially enhancing its market position and stakeholder value.

Evolution Energy Minerals Launches Major Copper Soil Sampling Program in Tanzania
Nov 20, 2025

Evolution Energy Minerals Limited announced the commencement of a major soil sampling program at the Chikundo VHMS copper system in Tanzania, scheduled to start on November 24, 2025. The program aims to collect 1,558 samples across two priority grids, enhancing the understanding of the copper corridor and the northeast anomaly. Historical drilling and recent sampling have confirmed significant copper potential, with high-grade copper sulphides and anomalous copper values found in the area. The project is strategically located near the planned Chilalo Graphite plant, offering logistical advantages and future development opportunities. The results of the sampling program are expected to guide future drilling activities in 2026, potentially strengthening Evolution’s position in the copper market.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Feb 04, 2026