Evion Group NL (ASX: EVG), a vertically integrated graphite and critical minerals developer active in Madagascar, India, and Europe, has announced a significant expansion into the fluorine supply chain. The company secured an exclusive option to acquire the CARP Fluorspar Project in Lincoln County, Nevada, USA. This strategic move aims to establish a Western-aligned critical minerals platform, complementing Evion’s existing graphite operations.
The CARP Fluorspar Project is a historically producing asset in Nevada, with past production of 44,900 tonnes at approximately 69% CaF₂. Evion has staked 45 adjoining claims for further mineralisation. Fluorspar, a critical mineral in the US and Australia, is vital for semiconductors, batteries, and defence, with the U.S. entirely import-reliant.
Managing Director David Round affirmed the strategic fit, aligning with Evion’s goal to be a leading critical minerals producer. He cited U.S. fluorspar import reliance and limited global supply, similar to the graphite market. This acquisition positions Evion as the sole ASX-listed company with exposure to both graphite and fluorspar projects, enhancing its role in global supply chains, complementing assets like the Maniry Graphite Project.
To fund this expansion, Evion secured firm commitments for an A$6.635 million capital raise via a share placement from institutional and strategic investors, including Director participation. Proceeds will support the CARP acquisition and initial exploration, with plans for surface sampling, geological mapping, and drilling. Acquisition terms involve initial cash and share consideration, deferred payments, and a US$3.75 million exploration commitment over four years to exercise the option.
