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BlackEarth Minerals NL
(Sydney:EVG)
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Rating:43Neutral
Price Target:
AU$0.02
â–˛(10.00% Upside)
Action:Reiterated
Date:07/22/26
The score is driven primarily by weak financial performance: despite strong revenue growth, the company shows ongoing losses and negative operating cash flow. Technicals add pressure with the stock below major moving averages and negative MACD. Valuation is also constrained because the negative P/E reflects unprofitable operations and no dividend yield is available to offset risk.
Positive Factors
Revenue Growth
A 38.93% revenue increase signals durable demand expansion and improving market penetration. Sustained top-line growth creates scale potential, supports future investment in product and operations, and provides a foundation for margin recovery if costs are controlled.
Negative Factors
Unprofitability
Persistent negative net and EBIT margins show revenue growth has not produced profitability. Structural unprofitability limits retained earnings, hinders reinvestment, increases dependence on external funding, and raises risk that growth cannot be sustained without margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A 38.93% revenue increase signals durable demand expansion and improving market penetration. Sustained top-line growth creates scale potential, supports future investment in product and operations, and provides a foundation for margin recovery if costs are controlled.
Read all positive factors
BlackEarth Minerals NL (EVG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$17.17M
Dividend YieldN/A
Average Volume (3M)650.79K
Price to Earnings (P/E)―
Beta (1Y)0.29
Revenue GrowthN/A
EPS Growth58.93%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding746,666,930
10 Day Avg. Volume1,272,311
30 Day Avg. Volume650,786
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)0.81
Price to Sales (P/S)43.66
P/FCF Ratio-2.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)AU$80.00M
BlackEarth Minerals NL Business Overview & Revenue Model
Company Description
Evion Group NL, headquartered in West Perth, Australia, functions as an integrated graphite developer with activities across Madagascar, India, and Europe. Its principal undertaking is the Maniry graphite project, located in Southern Madagascar. T...
How the Company Makes Money
null...
BlackEarth Minerals NL Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 149.88K | 149.88K | 107.88K | 90.89K | 86.44K | 86.63K |
| Gross Profit | 133.49K | 149.88K | -18.10K | 73.97K | 73.80K | 77.18K |
| EBITDA | -1.44M | -3.02M | -3.30M | -4.10M | -3.43M | -3.56M |
| Net Income | -2.04M | -3.69M | -3.21M | -3.57M | -3.44M | -3.45M |
Balance Sheet | ||||||
| Total Assets | 10.14M | 8.90M | 9.78M | 11.90M | 11.82M | 7.49M |
| Cash, Cash Equivalents and Short-Term Investments | 2.30M | 1.03M | 1.95M | 4.30M | 5.81M | 6.57M |
| Total Debt | 54.41K | 65.69K | 75.17K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 997.21K | 788.25K | 710.87K | 620.79K | 998.36K | 576.20K |
| Stockholders Equity | 9.15M | 8.11M | 9.07M | 11.28M | 10.82M | 6.92M |
Cash Flow | ||||||
| Free Cash Flow | -2.36M | -2.41M | -2.34M | -3.77M | -7.63M | -2.31M |
| Operating Cash Flow | -2.13M | -2.17M | -2.15M | -2.23M | -3.05M | -2.30M |
| Investing Cash Flow | -800.62K | -758.92K | -194.70K | -2.48M | -4.58M | -8.49K |
| Financing Cash Flow | 4.50M | 2.01M | -13.82K | 3.18M | 6.87M | 7.74M |
BlackEarth Minerals NL Technical Analysis
Negative
0.02
Price Trends
0.03
Negative
0.03
Negative
0.03
Negative
Market Momentum
>-0.01
Positive
40.98
Neutral
-41.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EVG, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and below the 200-day MA of 0.03, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.98 is Neutral, neither overbought nor oversold. The STOCH value of -41.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:EVG.
BlackEarth Minerals NL Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | AU$25.79M | -13.10 | -15.81% | ― | ― | 11.07% | |
44 Neutral | AU$23.63M | -4.11 | -19.53% | ― | ― | -8.74% | |
43 Neutral | AU$17.17M | -4.79 | -23.61% | ― | ― | 58.93% | |
43 Neutral | AU$26.03M | -3.80 | -5.94% | ― | -99.74% | -22.67% | |
42 Neutral | AU$12.77M | -11.67 | -51.58% | ― | ― | 56.45% |
* Basic Materials Sector Average
AU:EVG
BlackEarth Minerals NL
0.02
-0.01
-31.25%
AU:REE
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0.01
>-0.01
-45.00%
AU:VML
Vital Metals Ltd
0.10
<0.01
7.53%
AU:AR3
Australian Rare Earths Limited
0.10
>-0.01
-4.76%
AU:HTM
High-Tech Metals Limited
0.24
0.03
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AU:AXL
Axel REE Ltd.
0.05
-0.03
-38.37%
BlackEarth Minerals NL Corporate Events
Evion boosts critical minerals portfolio with Nevada fluorspar deal and landmark Madagascar permits
Jul 31, 2026
Evion Group advanced its CARP Fluorspar Project in Nevada during the June quarter, securing an exclusive option to acquire the historically producing asset and expanding the footprint from 14 to 59 unpatented lode claims. The larger 493-hectare la...
Evion hires Nevada specialists to advance high-grade Carp fluorspar project
Jul 26, 2026
Evion Group NL has engaged Nevada-based Rangefront Mining Services to carry out reconnaissance geological mapping and surface rock chip sampling at its Carp Fluorspar Project in Lincoln County. The work will concentrate on a newly identified north...
Evion Details Madagascar Levy Requirements for Maniry Graphite Permits
Jul 22, 2026
Evion Group NL has clarified that, as part of securing mining permits for its Maniry Graphite Project in Madagascar, it must pay a government levy equal to 3% of the project’s initial capital expenditure under the country’s new 2023 mi...
Evion Wins Key Mining Permits for EU-Backed Maniry Graphite Project
Jul 21, 2026
Evion Group NL has secured mining permits for its Maniry Graphite Project in Madagascar, completing the conversion of remaining exploration permits and locking in long-term tenure over all key project areas defined in its definitive feasibility st...
Evion Shareholders Back Capital Raising and Acquisition-Linked Share Issues
Jul 9, 2026
Evion Group NL said all resolutions put to shareholders at its 9 July general meeting were passed by poll, including approvals to issue consideration shares to Globex Nevada and transaction and advisory shares to Burnvoir in part payment of an acq...
Evion director David Round increases indirect shareholding
Jul 1, 2026
Evion Group NL has disclosed a change in the interests of director David Round, detailing an increase in his indirect holding of ordinary fully paid shares through the David Round Family Account. The update outlines his revised mix of ordinary sha...
Evion Group Clears Trading for 1.5 Million New Shares After Performance Rights Conversion
Jul 1, 2026
Evion Group NL has issued 1.5 million new shares following the conversion of vested performance rights, as part of its existing equity-based remuneration or incentive arrangements. The shares were issued without a prospectus under the disclosure e...
Evion Group Seeks ASX Quotation for 1.5 Million New Shares
Jul 1, 2026
Evion Group NL has applied to the ASX for quotation of 1.5 million new ordinary fully paid shares, expanding its listed securities base under the ticker EVG. The shares, issued on 30 June 2026, arise from the exercise or conversion of existing opt...
Evion Group Performance Rights Vest After Market Cap Milestone
Jun 29, 2026
Evion Group NL has confirmed that the vesting conditions for 1,500,000 performance rights granted to Managing Director David Round under its Employee Incentive Securities Plan have been met. The rights, issued in December 2025, were tied to the co...
Evion launches staged exploration at high-grade Carp Fluorspar Project in Nevada
Jun 28, 2026
Evion Group NL has outlined a staged exploration programme for its Carp Fluorspar Project in Nevada, marking the first modern integrated exploration of the carbonate-replacement system since the 1970s. The work is focused on a 493-hectare consolid...
Evion Group Reshapes Governance as Joint Company Secretary Resigns
Jun 19, 2026
Evion Group NL has announced the immediate resignation of joint company secretary Kah Yan Lim, marking a change in its corporate governance team. The company expressed its appreciation for Lim’s service and emphasized that this departure doe...
Evion Group Calls July General Meeting, Moves to Streamlined Online Shareholder Access
Jun 9, 2026
Evion Group NL has called a general meeting of shareholders to be held in person in Perth on 9 July 2026 at 10:00am AWST, with the notice of meeting and explanatory materials made available online via the company’s website and ASX announceme...
Evion Group Options Lapse, Trimming Future Equity Overhang
Jun 8, 2026
Evion Group NL has confirmed the cessation of 17 million EVGAN options, which were due to expire on 8 June 2026 with an exercise price of $0.125, after the conditional rights attached to these securities lapsed because their conditions were not me...
Evion Group Seeks ASX Quotation for 5.4 Million New Shares
Jun 4, 2026
Evion Group NL has applied to the Australian Securities Exchange for quotation of 5,404,473 additional ordinary fully paid shares under its existing EVG ticker. The new securities, issued on 4 June 2026, expand the company’s quoted capital b...
Evion’s Panthera JV Delivers Early Profit as Expandable Graphite Scales
Jun 3, 2026
Evion Group NL, an Australian critical minerals processor, is building a portfolio around graphite and fluorspar, leveraging its Panthera Graphite Technologies joint venture to supply premium expandable graphite to U.S. and European markets. The c...
Evion Reaffirms Graphite Project Assumptions and Broadens Critical Minerals Push
Jun 2, 2026
Evion Group NL is advancing the Maniry graphite project in Madagascar, supported by defined mineral resources, ore reserves and exploration targets prepared under the JORC Code by multiple competent persons. The company also operates an expandable...
Evion Group Lifts Equity Placement to $7.24m With Expanded Share and Option Issue
May 29, 2026
Evion Group NL has updated the terms of its latest share placement, increasing the number of Tranche 2 shares to be issued by 20,166,667 and lifting total firm commitments to AUD 7.24 million before costs through the proposed issue of 241,333,333 ...
Evion Group Lifts Placement to A$7.24m With Expanded Share and Option Issue
May 29, 2026
Evion Group NL has updated its planned capital raising, increasing the size of Tranche 2 of its share placement by 20,166,667 shares. This lifts total firm commitments under the placement to A$7.24 million before costs, through the proposed issue ...
Evion Group Upsizes Share Placement to A$7.24 Million Ahead of Shareholder Vote
May 29, 2026
Evion Group NL has increased the size of its recently announced two-tranche share placement, lifting total firm commitments to approximately A$7.24 million at an issue price of A$0.03 per share. The upsized Tranche 2 adds a further A$605,000 via 2...
Evion Group Seeks ASX Quotation for Additional Ordinary Shares
May 27, 2026
Evion Group NL has applied to the ASX for quotation of 774,288 new ordinary fully paid shares under the code EVG. The additional securities, issued on 27 May 2026 following the exercise or conversion of existing instruments, will modestly expand t...
Major Investor Group Sells 116m Evion Shares, Ends Substantial Holding
May 26, 2026
Evion Group NL has disclosed that Atlas Strategic Assets Inc., along with individuals Ty Ludbrook and Joel Zamel, has ceased to be a substantial shareholder in the company. The change was formalised via a regulatory notice under Australia’s ...
Evion Group Clears Secondary Trading for New $0.03 Placement Shares
May 21, 2026
Evion Group NL has issued 143,003,227 new shares at $0.03 per share via a placement and has lodged a notice under section 708A(5)(e) of the Corporations Act to facilitate secondary trading of these securities. The company confirmed that the shares...
Evion Group Seeks ASX Quotation for 143 Million New Shares
May 21, 2026
Evion Group NL has applied to the Australian Securities Exchange for quotation of 143,003,227 ordinary fully paid shares under the ticker EVG. The application follows previously announced transactions, formalising the move of these securities onto...
Evion Group Updates Share Issue Details for Acquisition Consideration
May 12, 2026
Evion Group NL has lodged an updated Appendix 3B with the ASX detailing a proposed issue of securities connected to a previously announced acquisition. The update clarifies the total number of deferred consideration shares to be issued as part of ...
Evion Group Plans Equity Placement of Over 28 Million Shares
May 11, 2026
Evion Group NL has outlined plans for a new equity placement, proposing to issue up to 28,454,545 fully paid ordinary shares on the ASX. The new securities are expected to be issued on 30 June 2026, subject to the usual listing rule requirements a...
Evion Group Seeks Trading Halt Ahead of Acquisition and Capital Raise
May 8, 2026
Evion Group NL has requested a trading halt on its securities on the Australian Securities Exchange, with the pause to remain in place until either 12 May 2026 or the release of a pending announcement. The halt is intended to manage disclosure obl...
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.