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BlackEarth Minerals NL (AU:EVG)
ASX:EVG

BlackEarth Minerals NL (EVG) AI Stock Analysis

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AU

BlackEarth Minerals NL

(Sydney:EVG)

Rating:34Underperform
Price Target:
BlackEarth Minerals NL is facing financial challenges with declining revenues and profitability, which are reflected in its financial performance and poor technical indicators. The stock appears undervalued due to its negative P/E ratio, but the lack of positive momentum and cash flow issues raise concerns about its near-term outlook. Strategic improvements are required to enhance its financial health and investor attractiveness.

BlackEarth Minerals NL (EVG) vs. iShares MSCI Australia ETF (EWA)

BlackEarth Minerals NL Business Overview & Revenue Model

Company DescriptionEvion Group NL operates as an integrated graphite developer in Madagascar, India, and Europe. Its flagship project is the Maniry graphite project located in Southern Madagascar. The company was formerly known as BlackEarth Minerals NL and changed its name to Evion Group NL in December 2022. The company was incorporated in 2016 and is based in West Perth, Australia.
How the Company Makes MoneyBlackEarth Minerals generates revenue through the exploration and potential extraction of graphite from its mining projects, particularly the Maniry Graphite Project. The company aims to capitalize on the growing demand for graphite as a key component in lithium-ion batteries and other renewable energy technologies. Revenue streams are expected to come from the sale of graphite concentrates to industrial buyers and strategic partnerships with companies involved in the battery and energy sectors. Additionally, the company may engage in joint ventures or offtake agreements to secure long-term buyers for its products, thus ensuring a steady income stream once production commences.

BlackEarth Minerals NL Financial Statement Overview

Summary
BlackEarth Minerals NL is experiencing significant financial difficulties with declining revenues, negative profit margins, and consistent losses. The company maintains a strong equity position with minimal debt, but operational inefficiencies are eroding shareholder value. Cash flow issues further highlight the need for strategic changes to improve liquidity and profitability.
Income Statement
15
Very Negative
The company has experienced declining revenues from 2020 to 2024, with total revenue dropping to zero in 2024. The gross profit margin is negative due to costs exceeding revenues. Net profit margins are consistently negative, suggesting ongoing losses. There is no revenue growth, and EBIT and EBITDA margins are negative, indicating operational inefficiencies and challenges in achieving profitability.
Balance Sheet
45
Neutral
The company maintains a strong equity position with a very low level of debt, resulting in a low debt-to-equity ratio. The equity ratio is healthy, with substantial stockholders' equity in comparison to total assets. However, the company has been losing equity over recent years due to sustained losses, impacting return on equity, which remains negative.
Cash Flow
20
Very Negative
Free cash flow has been consistently negative, indicating challenges in generating cash from operations. The operating cash flow to net income ratio is negative, highlighting inefficiencies in converting income into operating cash. There is a pattern of negative free cash flow growth, reflecting difficulties in improving liquidity through core operations.
Breakdown
TTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income StatementTotal Revenue
0.00107.88K90.89K86.44K86.63K87.74K
Gross Profit
-10.55K107.88K73.97K73.80K77.18K77.08K
EBIT
-3.82M-3.13M-3.71M-3.56M-3.75M-2.76M
EBITDA
-3.57M-3.30M-4.10M-3.43M-3.56M-2.45M
Net Income Common Stockholders
-3.91M-3.21M-3.57M-3.44M-3.45M-2.24M
Balance SheetCash, Cash Equivalents and Short-Term Investments
728.25K1.95M4.30M5.81M6.57M1.13M
Total Assets
8.33M9.78M11.90M11.82M7.49M2.06M
Total Debt
70.48K75.17K0.000.000.000.00
Net Debt
-657.77K-1.87M-4.30M-5.81M-6.57M-1.13M
Total Liabilities
786.85K710.87K620.79K998.36K576.20K380.53K
Stockholders Equity
7.54M9.07M11.28M10.82M6.92M1.68M
Cash FlowFree Cash Flow
-2.17M-2.34M-3.77M-7.63M-2.31M-1.83M
Operating Cash Flow
-2.12M-2.15M-2.23M-3.05M-2.30M-1.81M
Investing Cash Flow
-202.35K-194.70K-2.48M-4.58M-8.49K-16.57K
Financing Cash Flow
106.12K-13.82K3.18M6.87M7.74M1.58M

BlackEarth Minerals NL Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.02
Price Trends
50DMA
0.02
Negative
100DMA
0.02
Negative
200DMA
0.02
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
45.34
Neutral
STOCH
133.33
Negative
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 equal to the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 45.34 is Neutral, neither overbought nor oversold. The STOCH value of 133.33 is Negative, 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

Overall Rating
UnderperformOutperform
Sector (50)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
50
Neutral
$2.00B-1.12-21.15%3.68%2.69%-30.65%
AUEVG
34
Underperform
AU$7.83M-44.85%-77.78%
$182.18M-33.63%
$45.42M-29.78%
$45.33M-46.99%
$32.65M1.53
AURNU
46
Neutral
AU$147.50M84.291.05%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:EVG
BlackEarth Minerals NL
0.02
0.00
0.00%
SYAAF
Syrah Resources
0.18
-0.14
-43.75%
ARRXF
Archer Materials Limited
0.22
-0.07
-24.14%
NMTAF
Neometals Ltd
0.05
-0.04
-44.44%
MNSEF
Magnis Energy Technologies Limited
0.02
0.00
0.00%
AU:RNU
Renascor Resources Limited
0.06
-0.04
-40.00%

BlackEarth Minerals NL Corporate Events

Evion Group NL Issues Unquoted Equity Securities
May 2, 2025

Evion Group NL has announced the issuance of unquoted equity securities, including 1,750,000 options expiring on November 22, 2027, and 2,900,000 performance rights also expiring on the same date. These securities are part of an employee incentive scheme and are not intended to be quoted on the ASX, indicating a strategic move to motivate and retain key personnel within the company.

BlackEarth Minerals Achieves First Revenue from Expandable Graphite Shipments
Apr 30, 2025

BlackEarth Minerals NL has reported its first shipment of 120 tonnes of expandable graphite from its joint venture in India, generating A$615,000 in revenue. This marks a transition from development to revenue generation, positioning the company as an emerging supplier in the expandable graphite market. The company is also advancing its Maniry Graphite Project in Madagascar, with final approvals and community support secured. A recent rights issue and shortfall placement raised $2 million to fund joint venture expansion and permitting at Maniry, with a cash balance of $1.79 million at the quarter’s end.

BlackEarth Minerals Secures Community Support for Maniry Graphite Mine
Apr 24, 2025

BlackEarth Minerals NL has successfully secured formal agreements with over 100 families in the Maniry region, a crucial step toward advancing the Maniry Graphite Mine project. These agreements are part of the company’s Community Development Plan, which includes significant local investments such as employment opportunities, infrastructure improvements, and educational and healthcare facilities. With the regulatory pathway defined and community support secured, the company is poised to receive formal endorsements from Madagascar’s environmental authority, ONE, facilitating the project’s progression. This development aligns with local aspirations and broader supply chain demands, reinforcing BlackEarth’s commitment to sustainable and community-focused mining operations.

EVION Group NL Director Increases Shareholding
Apr 14, 2025

EVION Group NL has announced a change in the director’s interest, specifically involving David Round. The change involves the acquisition of 800,000 fully paid ordinary shares, increasing his indirect holdings to 9,195,551 shares. This adjustment in shareholding reflects a strategic move by the director, potentially indicating confidence in the company’s future prospects.

Evion Group NL Maintains Steady Course in Graphite Production and Expansion
Apr 2, 2025

Evion Group NL has confirmed that all material assumptions underpinning its Maniry production target and expandable graphite joint venture targets remain unchanged. The company continues to progress with its operations, including government approval processes in Madagascar and shipments from India, indicating potential growth in revenue and strengthening its position in the graphite industry.

EVION Group NL Announces Director’s Interest Change
Mar 31, 2025

EVION Group NL has announced a change in the director’s interest, specifically involving Heather Zampatti. The change includes the acquisition of 590,124 unlisted options exercisable at $0.03 each, expiring on 27 September 2026, as part of a pro-rata non-renounceable entitlement issue. This adjustment in director’s holdings reflects strategic financial maneuvers that could influence the company’s market perception and stakeholder confidence.

Evion Group NL Issues Unquoted Securities to Strengthen Capital Structure
Mar 27, 2025

Evion Group NL has announced the issuance of 72,985,919 unquoted securities, set to expire in September 2026, as part of a previously announced transaction. This issuance is part of the company’s strategic financial maneuvers, potentially impacting its market positioning and offering implications for stakeholders by enhancing its capital structure.

Evion Group NL Successfully Closes Bonus Options Offer
Mar 27, 2025

Evion Group NL, trading on the ASX under the ticker EVG, announced the successful closure of its Bonus Options Offer, which was a pro-rata non-renounceable entitlement issue. The offer resulted in applications for 72,985,919 new options, raising $218,958 before costs. This issuance includes entitlements taken up by eligible shareholders and a shortfall, with the new options set to be issued and allotted on 27 March 2025. This development reflects the company’s efforts to strengthen its financial position and engage its shareholders, potentially impacting its market strategy and investor relations.

BlackEarth Minerals Begins Maiden Shipment of Expandable Graphite
Mar 12, 2025

BlackEarth Minerals NL has commenced its maiden shipment of 80 metric tons of expandable graphite to a European buyer, generating approximately A$400,000 in revenue for its joint venture. The company is ramping up operations at its Pune Production Facility in India, with plans to increase shipments and revenue significantly. The demand for expandable graphite is rising, driven by its applications in growing industries such as aerospace and electronics. The company is also preparing for Stage 2 expansion and updating its Feasibility Study to highlight the potential returns from future operations.

BlackEarth Minerals Advances Maniry Graphite Project in Madagascar
Mar 5, 2025

BlackEarth Minerals NL is making significant progress in advancing its Maniry Graphite Project in Madagascar, with recent milestones achieved in community development and government approvals. The company has received strong support from the local community and is working closely with the Malagasy government and international entities like the EU and IMF to secure necessary permits and recognition as a strategic project. These developments are expected to enhance the company’s operational capabilities and strengthen its position in the global graphite market.

EVION Group Director Increases Stake with Share Acquisition
Feb 27, 2025

EVION Group NL has announced a change in the director’s interest notice, specifically concerning David Round. The notice reports that Mr. Round, through the DEJA Round Super Fund, has acquired an additional 1,000,000 ordinary fully paid shares via on-market trades, increasing his indirect holdings to 8,395,551 shares. This acquisition reflects a strategic move by the director to increase his stake in the company, potentially signaling confidence in the company’s future prospects.

EVION Group NL Director Increases Shareholding
Feb 26, 2025

EVION Group NL has announced a change in the director’s interest, specifically regarding Heather Zampatti’s holdings. The director acquired 450,447 fully paid ordinary shares through on-market trades, increasing her total to 1,630,695 shares. This change in director’s interest reflects a significant increase in personal investment, potentially signaling confidence in the company’s future prospects.

Evion Group NL Dispatches Rights Issue Documents for Bonus Options Offer
Feb 26, 2025

Evion Group NL, listed on the ASX, has announced the dispatch of documents related to its non-renounceable pro-rata entitlement offer of bonus options to eligible shareholders. This offer allows shareholders in Australia and New Zealand to subscribe for bonus options at a minimal subscription price, with the options exercisable at a higher price within 18 months. This initiative aims to enhance shareholder value and potentially increase market engagement.

Evion Group Announces Major Security Issuance
Feb 18, 2025

Evion Group NL has announced a proposed issuance of securities with a plan to issue 219,656,079 unlisted options, exercisable at $0.03 each, expiring 18 months from the issue date. This standard pro-rata, non-renounceable issue is part of the company’s strategy to increase capital and strengthen its market position.

BlackEarth Minerals Initiates New Options Entitlement Issue
Feb 18, 2025

BlackEarth Minerals NL, operating in the mining industry, is focused on exploring and developing mineral resources, with a particular emphasis on graphite projects. The company announced a pro-rata non-renounceable entitlement issue of up to 219,656,079 new options at $0.003 per option, exercisable at $0.03 each, aiming to raise approximately $658,968. This move is part of their strategy to enhance capital and support future growth, although the options are considered highly speculative. The offer is available only to shareholders in Australia and New Zealand, reflecting the company’s continuous compliance with ASX disclosure obligations.

Evion Group NL Issues New Securities to Boost Operations
Feb 18, 2025

Evion Group NL announced the issuance of 28,957,609 fully paid ordinary securities as part of a shortfall placement. The quotation of these securities on the ASX is expected to enhance the company’s liquidity and provide additional resources for its operations, potentially impacting its market positioning positively.

Evion Group NL Announces Cessation of 4.5 Million Securities
Feb 10, 2025

Evion Group NL has announced the cessation of 4.5 million securities under the ASX code EVGAJ due to the expiry of options or other convertible securities without exercise or conversion, effective February 9, 2025. This development may impact Evion Group’s capital structure as the expired securities will no longer be part of their issued capital, potentially affecting shareholders and market perception.

Evion Group NL Issues Bonus Shares to Financial Controller
Feb 7, 2025

Evion Group NL, listed on the Australian Securities Exchange, has issued 1,000,000 shares at a price of $0.023 per share as a bonus to its Financial Controller. The company has ensured that this issuance complies with the necessary regulations under the Corporations Act, allowing for the shares to be exempt from resale restrictions typically imposed on securities issued without disclosure.

Evion Group NL to Quote 1 Million New Securities on ASX
Feb 7, 2025

Evion Group NL has announced a new application for the quotation of 1,000,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code EVG. This move is part of previously announced transactions and could enhance the company’s market presence and provide additional capital for operations.

EVION Group NL Director Increases Stake Through Rights Issue
Feb 7, 2025

EVION Group NL has announced a change in the director’s interests in securities, where Heather Zampatti, a director, acquired 295,063 fully paid ordinary shares, increasing her total holdings to 1,180,248 shares. This change in interest was due to her participation in a Non-Renounceable Rights Issue, reflecting a strategic move to consolidate her position within the company.

Evion Group NL Announces Quotation of New Securities on ASX
Feb 7, 2025

Evion Group NL has announced the quotation of 57,999,175 fully paid ordinary securities on the Australian Securities Exchange (ASX). This move is part of a transaction previously announced and is expected to enhance the company’s liquidity and market presence, potentially benefiting its stakeholders.

$2 Million Raised by Evion Group to Boost Graphite Production
Feb 6, 2025

Evion Group NL has successfully raised $2 million through a Rights Issue and Shortfall Placement to support the expansion of its Panthera Graphite Joint Venture in India. This funding will facilitate increased production capacity, finalizing permits for a Madagascar project, and updating a battery anode materials study. The company’s strategic growth initiatives aim to capitalize on strong market demand and explore new business opportunities for downstream graphite products.

Evion Group NL Initiates Trading Halt Ahead of Capital Raise Announcement
Feb 6, 2025

Evion Group NL has initiated a trading halt on their securities as they prepare to make a significant announcement related to a capital raise. This strategic move is aimed at managing the company’s continuous disclosure obligations, with the halt expected to last until February 10, 2025, or upon the release of their announcement, potentially impacting the company’s financial operations and market positioning.

Evion Group NL Successfully Completes Entitlement Offer and Announces Bonus Options
Feb 5, 2025

Evion Group NL announced the successful completion of its entitlement offer, raising $1.33 million, which will support the ramp-up to full production at the Panthera JV. The company is also offering a pro-rata entitlement issue of options to eligible shareholders, reflecting strong shareholder support and confidence in Evion’s strategic direction.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.