Evion Group's Generates AU$400,000 from First Graphite Shipment to US
MT Newswires Live
Aug 28
Evion Group (ASX:EVG) said its India-based joint venture, Panthera Graphite, has completed its first shipment of expandable graphite to the US, generating about AU$400,000 in revenue, according to a Thursday filing with the Australian bourse.
The remaining 18 metric tonnes of the order are expected to be shipped within a week, the filing said.
Proceeds from the sale were to fund the acquisition of more than 450 metric tonnes of graphite concentrate, the filing added.
The JV has about AU$1.1 million worth of concentrate and inventories in store, the company said.
Shares of the company rose 10% in recent Thursday trade.
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