# EV1: Annual Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146716 Publisher: asx Original announcement: 2026-09-30T08:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T09:25:43.357Z Atlas analysis updated: 2026-09-30T09:25:43.357Z - Company: Evolution Energy Minerals Limited - Ticker: EV1 - Exchange: ASX - Region: Tanzania - Primary commodity: Graphite - Secondary commodities: Copper - Document categories: Resource update, Capital raise, Other - Extracted: 2026-09-30 09:25:44 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Evolution Energy Minerals Limited successfully recapitalized its business during FY2026, raising A$5.93 million and reducing corporate overheads, while advancing its Chikundo Copper Project to the drill stage and establishing a clear development pathway for the Chilalo Graphite Project. Post-period, the Tanzanian Mining Commission lifted a default notice on the Chilalo mining license, and drilling commenced at Chikundo. However, the company reported continued net losses and faces material uncertainty regarding its going concern status, with resource estimates remaining unchanged from the prior year. Reasoning: The annual report details significant financial restructuring and project advancements, including successful capital raises and regulatory milestones, but also highlights ongoing financial losses and the unchanged nature of the resource estimates. - Positive factor: Successful capital raises strengthened the balance sheet. - Positive factor: Regulatory default notice lifted for the Chilalo Graphite Project. - Positive factor: Chikundo Copper Project advanced to drill-ready stage with drilling commenced post-period. - Positive factor: Clear development strategy for Chilalo targeting production in October 2027. - Positive factor: Reduced corporate overheads and net loss. - Negative factor: Continued net losses and material uncertainty regarding going concern. - Negative factor: Resource and reserve estimates are unchanged from the previous year, indicating no new geological information. - Negative factor: Reliance on additional fundraising for continued operations and project development. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 17 ## Classification and evidence **Successful Capital Raise** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Two oversubscribed entitlement offers raised approximately A$5.93 million, strengthening the balance sheet. Evidence · text > The two oversubscribed entitlement offers and associated placements raised approximately A$5.93 million before costs. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides an annual update of the Chilalo Graphite Project's Mineral Resource and Ore Reserve estimates. Evidence · text > Annual Statement of Ore Reserves and Mineral Resources as at 30 June 2026 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The resource and reserve estimates are prepared in accordance with the JORC Code \(2012\). Evidence · text > Mineral Resource and Ore Reserve estimates for Chilalo are prepared in accordance with the JORC Code \(2012\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr Craig Moulton, a Competent Person, has approved the Annual Statement of Ore Reserves and Mineral Resources. Evidence · text > approved by Mr Craig Moulton, a Member of the Australasian Institute of Mining and Metallurgy. **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The Ore Reserve is classified as Probable Reserve. Evidence · table > Probable Reserve Context: 8.0 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: A portion of the Mineral Resource is classified as Indicated. Evidence · table > Indicated Context: 9.2 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the Mineral Resource is classified as Inferred. Evidence · table > Inferred Context: 7.4 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: There has been no change to the Mineral Resource or Ore Reserve estimates since the previous annual statement as at 30 June 2025. Evidence · text > There has been no change to the Chilalo Mineral Resource or Ore Reserve estimates since the Company’s previous annual statement as at 30 June 2025. **Regulatory Milestone Achieved** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Tanzanian Mining Commission lifted the Default Notice over Mining Licence ML 716/2023. Evidence · text > the Tanzanian Mining Commission lifted the Default Notice over Mining Licence ML 716/2023 with effect from 21 August 2026. **Reduced Corporate Overheads** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Corporate overheads were reduced by 37% and loss after tax by 59% compared with FY2025. Evidence · text > reduction of 37% in corporate overheads and 59% reduction in loss after tax compared with FY2025. **Going Concern Uncertainty** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The financial statements identify a material uncertainty in relation to going concern due to continued net losses and reliance on additional fundraising. Evidence · text > The financial statements identify a material uncertainty in relation to going concern because continued operations and project development depend on additional fundraising. ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (12) ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-3) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:d2f1922fe576827b0d8f - Deposit or zone: Main #### Resource Data - Category: probable - Tonnes: 8000000 - Grade: 10.5 - Grade Unit: % TGC - Contained Metal: 836 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project reports a Probable Ore Reserve of 8.0 Mt at 10.5% TGC, providing a strong foundation for development, though it remains unchanged from the prior year. - Positive factor: Probable Reserve classification indicates high confidence in economic viability. - Positive factor: JORC compliant estimate with QP sign-off. - Negative factor: No change from previous year's estimate. Evidence · table > 10.5 Context: 8.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-4) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:e5ac26610f5ae31a2ad4 - Deposit or zone: Main #### Resource Data - Category: indicated - Tonnes: 9200000 - Grade: 10.6 - Grade Unit: % TGC - Contained Metal: 982 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project includes a High-Grade Indicated Mineral Resource of 9.2 Mt at 10.6% TGC, contributing to the overall resource base. - Positive factor: Indicated Resource classification provides good geological confidence. - Positive factor: High-grade nature of the resource. - Negative factor: No change from previous year's estimate. Evidence · table > 10.6 Context: 9.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-5) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:dd83c6aceaeb682507e5 - Deposit or zone: North East #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 9.5 - Grade Unit: % TGC - Contained Metal: 100 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project includes a High-Grade Indicated Mineral Resource of 1.0 Mt at 9.5% TGC in the North East domain. - Positive factor: Indicated Resource classification provides good geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 9.5 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-6) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:c636a766346a826b9092 - Deposit or zone: All #### Resource Data - Category: indicated - Tonnes: 10300000 - Grade: 10.5 - Grade Unit: % TGC - Contained Metal: 1082 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The total High-Grade Indicated Mineral Resource for Chilalo is 10.3 Mt at 10.5% TGC. - Positive factor: Total High-Grade Indicated Resource provides a significant portion of the resource base. - Negative factor: No change from previous year's estimate. Evidence · table > 10.5 Context: 10.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-7) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:5787f27a9a32b2b6f715 - Deposit or zone: Main #### Resource Data - Category: inferred - Tonnes: 7400000 - Grade: 9.5 - Grade Unit: % TGC - Contained Metal: 704 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project includes a High-Grade Inferred Mineral Resource of 7.4 Mt at 9.5% TGC in the Main domain, which requires further drilling to upgrade confidence. - Positive factor: High-grade nature of the resource. - Negative factor: Inferred classification indicates lower geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 9.5 Context: 7.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-8) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:1d69fb2ee8e7fc1fa9fc - Deposit or zone: North East #### Resource Data - Category: inferred - Tonnes: 2300000 - Grade: 8.8 - Grade Unit: % TGC - Contained Metal: 205 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project includes a High-Grade Inferred Mineral Resource of 2.3 Mt at 8.8% TGC in the North East domain. - Negative factor: Inferred classification indicates lower geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 8.8 Context: 2.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-9) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:cbafd53ec0ad0e9e6d33 - Deposit or zone: All #### Resource Data - Category: inferred - Tonnes: 9800000 - Grade: 9.3 - Grade Unit: % TGC - Contained Metal: 908 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The total High-Grade Inferred Mineral Resource for Chilalo is 9.8 Mt at 9.3% TGC. - Negative factor: Inferred classification indicates lower geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 9.3 Context: 9.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-10) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:c7dacbc5bcd647a8be5d - Deposit or zone: All #### Resource Data - Category: inferred - Tonnes: 20100000 - Grade: 9.9 - Grade Unit: % TGC - Contained Metal: 1991 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The total High-Grade Indicated + Inferred Mineral Resource for Chilalo is 20.1 Mt at 9.9% TGC, with the Inferred component requiring further de-risking. - Negative factor: Significant portion of the resource is Inferred, indicating lower confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 9.9 Context: 20.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-11) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:eaad2c62a3893a72a7f6 - Deposit or zone: Main #### Resource Data - Category: inferred - Tonnes: 37800000 - Grade: 3.4 - Grade Unit: % TGC - Contained Metal: 1282 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project includes a large Low-Grade Inferred Mineral Resource of 37.8 Mt at 3.4% TGC in the Main domain, which represents a significant tonnage but at lower confidence and grade. - Negative factor: Low-grade nature of the resource. - Negative factor: Inferred classification indicates lower geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 3.4 Context: 37.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-12) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:4549130b91557a2471a4 - Deposit or zone: North East #### Resource Data - Category: inferred - Tonnes: 9500000 - Grade: 4.1 - Grade Unit: % TGC - Contained Metal: 394 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The Chilalo Project includes a Low-Grade Inferred Mineral Resource of 9.5 Mt at 4.1% TGC in the North East domain. - Negative factor: Low-grade nature of the resource. - Negative factor: Inferred classification indicates lower geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 4.1 Context: 9.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-13) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:6b75594551e52d04d79f - Deposit or zone: All #### Resource Data - Category: inferred - Tonnes: 47300000 - Grade: 3.5 - Grade Unit: % TGC - Contained Metal: 1677 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The total Low-Grade Inferred Mineral Resource for Chilalo is 47.3 Mt at 3.5% TGC, representing a large tonnage at lower confidence and grade. - Negative factor: Low-grade nature of the resource. - Negative factor: Inferred classification indicates lower geological confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 3.5 Context: 47.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ev1-annual-report--e180900d-cf03-4a31-9d03-b91a8b9d1dfd#fact-resource-facts-14) Chilalo · graphite #### Identity - Project: Chilalo - Commodity: graphite - Region: tanzania - Reported Region: Tanzania - Ticker: EV1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Craig Moulton - Resource group id: resource:a71c668f857d74b6ea77 - Deposit or zone: All #### Resource Data - Category: inferred - Tonnes: 67300000 - Grade: 5.4 - Grade Unit: % TGC - Contained Metal: 3667 - Contained Unit: kt - Cutoff Grade: 2 - Cutoff Unit: % TGC #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The total High-Grade + Low-Grade Indicated + Inferred Mineral Resource for Chilalo is 67.3 Mt at 5.4% TGC, providing a substantial resource base but with a large Inferred component. - Positive factor: Large total Mineral Resource base for the project. - Negative factor: Significant portion of the resource is Inferred, indicating lower confidence. - Negative factor: No change from previous year's estimate. Evidence · table > 5.4 Context: 67.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.