New Risk • May 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$138.5m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$138.5m market cap, or US$99.0m). Announcement • Jan 23
EcoGraf Limited Delivers Gold Results and Strategy Including 4.45 G/T Gold Rock Chip Sample EcoGraf Limited announced that the company holds large legacy tenure in the Archean and Proterozoic terrains in Tanzania highly prospective for gold. Following a gold prospectivity study and a maiden exploration program, priority gold targets have been identified in the Northern, Southern and Western parts of Tanzania collectively named the Golden Frontiers The Golden Frontier gold projects include the Golden Eagle Gold Project (Golden Eagle) and 3 Frontier gold projects covering over 3,000 km2 of ground. 21 highly prospective gold prospects have been identified at the Southern, Northern and Western Frontiers. The maiden exploration program, supported by new geological and structural mapping, geophysics and historical mineral observations, has delivered strong high grade gold results Southern Frontier Gold Project (Southern Frontier). 5 highly prospective gold prospects identified, with the maiden program at the Hazina prospect producing excellent results. Results at Hazina includes a 4.45 g/t gold rock chip sample along with strong stream sediment results including 8,820 ppb gold with visible gold observed in 5 of the stream sediment samples. The results show significant prospectivity over a 3 km length with the highest results coincident with a large geophysical anomaly, demonstrating potential for a substantial Proterozoic gold discovery similar to Handani (1.0 Moz) or New Luika (1.1 Moz). gold deposits. New prospecting licence applications covering 573 km2 submitted to expand the Southern Frontier area Golden Eagle Gold Project (Golden Eagle). Project is located on the eastern margin of the world class +70 Moz gold Archean Lake Victoria Goldfields in the same structural corridor as the historical 3.4 Moz Golden Pride gold mine. Project covers the direct interpreted northeast continuation of the Banded Iron Formation (BIF) that hosts the high-grade Winston gold deposit, which has returned drill intercepts of 16 m @ 55.23 g/t gold from 116 m. Several untested and under-explored gold prospects exist, where shear zones and faults crosscut the BIF units of Golden Eagle Arising from the commencement of the farm-in agreement, the Company received payment of AUD491.6,000 from AGA which included reimbursed costs. Northern and Western Frontier Gold Project: New geological and exploration models developed and delineated 16 priority gold prospects including historic gold and copper occurrences. The Proterozoic belts covered by the Northern and Western Frontier Gold projects are considered highly prospective for gold and geologically analogous to other Tanzanian Proterozoic goldfields, including Mpanda and New Luika Government of Tanzania (GoT) supportive of the mining sector, proactively working with foreign companies and partners to develop the country's deposits into global-leading mines and aims to become a Sub-Saharan Africa's mining hub. Across the Frontier projects, further potential exists for lithium pegmatite, copper and nickel sulphide mineralisation. In relation to Figure 2, the stream sediment and rock chip sample assay results in this announcement relate to the Hazina sampling program and laboratory analysis results are set out below. Work continues to further develop the Golden Frontier gold exploration model as more data becomes available, but the " source-pathway-trap" approach to targeting continues to form the foundation. Announcement • Jan 09
EcoGraf Limited Appoints John Ciganek as General Manager - Corporate Development EcoGraf Limited announced that the appointment and commencement of Mr. John Ciganek as General Manager - Corporate Development. This appointment comes at a pivotal time for EcoGraf as the Company advances the Epanko Graphite Project in Tanzania towards development and planned staged expansion to become Africa's largest graphite producer, while accelerating its downstream HFfree® battery anode material strategy across multiple international locations. John's career spans over 30 years and encompasses senior technical and leadership roles in mining operations, project finance, and corporate advisory and has successfully raised more than AUD 5 billion strategic funding for resource projects worldwide. He also has extensive experience in negotiating offtake agreements and securing strategic partnerships. John's previous roles include Director of GBA Capital, MD and CEO of Vanadium Resources, Director of Euclase Capital, Executive Director of BurnVoir Corporate Finance, Senior Banks Engineer and Risk Executive at Commonwealth Bank, and senior mining engineering positions with Hargraves Resources, Reynolds Yilgarn Gold and Comalco /Rio Tinto. John's proven track record in project development, strategic equity financing, and stakeholder engagement will strengthen EcoGraf's ability to deliver its integrated growth vision and capitalise on increasing global demand for sustainable battery materials. His expertise will also support ongoing collaboration with governments and strategic equity partners to secure funding and co-investment opportunities. Announcement • Jan 02
EcoGraf Limited Announces Resignation of Keith Jones as Non-Executive Director , Effective December 31, 2025 EcoGraf Limited announced that Mr. Keith Jones, non-executive Director, has resigned for personal reasons effective December 31, 2025. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Non-Executive Chairman Bob Pett was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$15m free cash flow). Earnings have declined by 5.8% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Oct 13
EcoGraf Limited, Annual General Meeting, Nov 25, 2025 EcoGraf Limited, Annual General Meeting, Nov 25, 2025. Location: level 39, 152-158 st georges terrace, wa 6000, perth Australia Announcement • Apr 15
Ecograf Limited Announces the Latest Results for Its Product Qualification Plant EcoGraf Limited announced the latest results for its Product Qualification Plant which has met highest customer chemical specification for Spherical
Graphite while also retaining the important physical specification, which is a breakthrough for the development of a new and environmentally superior battery anode materials. Key Highlights: PQF delivers results meeting the highest customer specifications for purified SPG. EcoGraf's HFfree second purification patent application will now proceed to grant. New demand driven by increasing EU and US Government legislation to incentivize the
development of new supply channels. These milestones follow the successful commissioning of a product qualification piloting facility and multiple operational campaigns through this plant. This work has demonstrated that the HFfree purification processing technology achieves extremely high purification levels of 99.99% carbon and low levels of impurities under operational conditions meeting the highest customer specifications for purified SPG. The Company is also pleased to report that IP Australia has now accepted EcoGraf's second HFfree purification patent application and this patent application will now proceed to grant. The second patent application was lodged to provide broader protection of the Company's HFfree purification technology flowsheet. The second Australian patent covers the additional use of the Company's EcoGraf HFfree purification technology across a range of applications relating to the manufacture of battery anode material and high purity graphite products, together with the recycling of lithium-ion battery anodes. The Company is continuing discussions with a range of auto OEMs, battery manufacturers and potential supply chain customers and seeking to qualify the product samples with over six major battery groups in Europe, Asia and North America. The Company also expects to advance offtake and collaboration for its HFfree purification technology with some of these leading groups in the industry. The Company's downstream HFfree development strategy is to produce unpurified spherical graphite in Tanzania using low cost hydro green energy and is seeking to build out the purification facilities in the major battery manufacturing hubs across Europe, North America and Asia using its EcoGraf HFfree US patented technology. The Company is evaluating a number of potential development locations as it expects customer adoption of new non-Chinese demand to significantly grow from the beginning of 2027 in Europe and North America driven by increasing EU and US Government legislation. The graphite for these facilities will be sourced from the Company's Epanko Project in Tanzania where the Company has mandated KfW IPEX-Bank to arrange a senior debt facility (UFK Tranche) of up to USD 105 million for the construction of Epanko. The Company has recently finalised a substantial environmental and social planning program to support the financing and development of Epanko. EcoGraf's vertically integrated battery anode materials business which commences with the high- quality natural flake graphite is expected to provide significant customer cost and environmental benefits. The PQF is jointly funded through the Commonwealth Government's A$48.9 million Critical Minerals Development Program, which is supporting Australian battery minerals processing capability. The positive support from the Australian Government is well received with the Company in receipt of $2.9 million grant funding disbursement for the PQF program. Announcement • Mar 26
EcoGraf Limited Announces the Completion of Its Independent Engineering Study for the Development of its TanzGraphite Mechanical Shaping Facility at Ifakara in Tanzania EcoGraf Limited announced the completion of its Independent Engineering Study for the development of its TanzGraphite Mechanical Shaping Facility at Ifakara in Tanzania. Key Highlights: Stage 1 processing of 20,000 tonnes per annum of flake graphite feedstock, delivering a highly competitive spherical graphite (SpG) yield of over 60% and supported by extensive pilot and commercial scale mill testing. Stage 1 construction cost $58.6 million. Forecast operating cost $419 per tonne as Study confirms significant power and transport cost advantages with Tanzanian location. Potential Export Processing Zone designation would deliver additional Tanzanian investment incentives, including corporate tax exemption for the initial 10 years. Sales and European funding interest received to support development planning programs. Discussions with EU Commission in Tanzania following roundtable meetings in Brussels last year and recent follow-up meetings in Africa on supporting additional studies on 'value-addition' of graphite fines, including EcoGraf's GreenRECARB1 TanzGraphite Mechanical Shaping Facility to provide spherical graphite feedstock for planned EcoGraf HF freetm Purification Facilities, with strong interest on locating these plants in Europe to support an independent, low cost and sustainably produced EcoGraf BAM supply. The Study is the result of extensive technical work completed over the last 10 years by EcoGraf and is based upon the preferred site near Ifakara, which provides significant clean-power and transport advantages.lection of Ifakara supports the Company's proposed expansion of its Epanko operation to produce approximately 300,000 tonnes per annum flake graphite products, with engineering programs continuing on the Ifakara site and optimisation of logistics for the planned transport of Epanko graphite products to the export port of Dar es Salaam. The capital cost estimate developed during the Study is based on an engineering, procurement, construction and management (EPCM) approach and includes process plant infrastructure, earthworks, roads, fencing, buildings, water storage, and power reticulation across the facility. Mr. David Williams and Mr. David Drabble have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Production targets and financial information derived from the production targets, included in this report is extracted from ASX announcements dated 21 June 2017, 28 April 2023 and 25 July 2024 available at <URL> and 25 July 2024 available at and. The production targets referred to in this report are based on the updated Epanko Reserve (25 July 2024 announcement) which is comprised of 82% Measured Resources and 18% Indicated Resources for an initial 18-year life of the Company. New Risk • Mar 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (AU$449k revenue, or US$283k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$63.6m market cap, or US$40.0m). New Risk • Feb 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$47.7m market cap, or US$30.0m). Announcement • Dec 10
EcoGraf Limited Announces Executive Changes EcoGraf Limited announced the appointment of Ms Natalie Teo as Joint Company Secretary, effective 10 December 2024. Ms Teo is an experienced company secretary and has provided corporate advisory, company secretarial and financial reporting services to both ASX and unlisted public companies as well as private companies. She holds a Bachelor of Commerce (Marketing and Management) Curtin University, Western Australia; Master of Accounting Curtin University, Western Australia and Graduate Diploma in Applied Corporate Governance Governance Institute of Australia. Ms Shannon Coates retires as Joint Company Secretary, effective 10 December 2024. Announcement • Oct 18
EcoGraf Limited, Annual General Meeting, Nov 27, 2024 EcoGraf Limited, Annual General Meeting, Nov 27, 2024. Location: rsm australia, level 32 exchange tower, 2 the esplanade perth wa 6000, Australia Announcement • Aug 15
EcoGraf Limited Announces the Completion of the Final Layout Design for the 73,000tpa Graphite Processing Plant by METC Engineering and Construction EcoGraf Limited announced the completion of the final layout design for the 73,000tpa graphite processing plant by METC Engineering and Construction (METC). The project was managed by METC-PaulSam JV their Tanzanian based partner. The following link below provides a 3D fly-over overview of the proposed processing plant. The 3D fly-over provides a detailed overview of the processing plant, which has been designed to the highest engineering standards to meet bank independent due diligence and customised to deliver the project's very favourable characteristics, which includes high processing recoveries and high concentrate grades. The final plant design follows the recent due diligence site visits undertaken last quarter by KfW IPEX-Bank, Euler Hermes and technical, environmental and social consultants. The Company is also pleased to advise the engineering geotechnical drilling program activities have commenced at Epanko, Tanzania. This program will finalise the geotechnical parameters for the proposed Epanko Graphite Processing Plant, Tailings Storage Facility (TSF), Water Storage Facility (WSF) and will ensure that the final TSF design meets the engineering standards outlined in the Global Industry Standard on Tailings Management (GISTM). The program includes 22 holes for 450m of drilling and 67 geotechnical test pits. Epanko project characteristics have been reviewed through the bank appointed Independent Technical Expert (ITE) review and combined with the recent Ore Reserve where an industry-leading 82% of the Reserve is now in the Proven category, provides the highest level of confidence. Announcement • Jan 15
EcoGraf Limited Announces Appointment of Shannon Coates as Joint Company Secretary EcoGraf Limited announced the appointment of Ms Shannon Coates as joint Company Secretary, effective immediately. Ms Coates has over 25 years' experience in corporate law and compliance. She is currently Managing Director of Source Governance, a national company secretarial and governance service provider, and has provided company secretarial and corporate advisory services to boards and various committees across a variety of industries, including oil & gas, resources, manufacturing and technology. She is a qualified lawyer, Chartered Secretary and graduate of the AICD's Company Directors course. Mr. Howard Rae, Chief Financial Officer, continues as joint Company Secretary. Announcement • Dec 01
EcoGraf Limited Announces Resignation of Karen Logan as Company Secretary EcoGraf Limited advised that Ms. Karen Logan has resigned as joint Company Secretary of the Company effective 30 November 2023. Mr. Howard Rae, Chief Financial Officer, continues as Company Secretary of EcoGraf and as the person nominated under Listing Rule 12.6 for communication with ASIC in relation to Listing Rule matters. New Risk • Oct 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$72.4m market cap, or US$45.6m). Announcement • Sep 29
EcoGraf Limited, Annual General Meeting, Nov 27, 2023 EcoGraf Limited, Annual General Meeting, Nov 27, 2023. New Risk • Sep 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$52.0m market cap, or US$33.5m). New Risk • Sep 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$58.8m market cap, or US$37.5m). Announcement • Jun 16
EcoGraf Limited Receives Notice from the US Patent and Trademark Office EcoGraf Limited announce that it has received notice from the US Patent and Trademark Office (USPTO) that its patent application, filed on 1 November 2022, entitled “Method of Producing Purified Graphite” (US application number 17/626,425) has been examined and received a ‘Notice of Allowance’ in the US. The US patent will issue shortly following payment of the issue fee. This is a very important step in the proposed commercialisation of EcoGraf HFfree™ technology, providing protection in the US of the patented methodology until about November 2042. The commercialisation of the technology will also comply with US Treasury IRA guidance on new clean vehicle credit criteria to strengthen critical mineral supply chains. The method is positioned to be an alternative purification technology for the manufacturer of battery anode material used in lithium-ion batteries, the patent also protects the use of the technology in Lithium-ion battery anode recycling. Battery recycling is now recognised as an important part of transition to clean energy with increasing requirements in EU and US to achieve greater recycling. EcoGraf’s HFfree™ purification technology was developed by the Company in Australia in 2017 and has since been refined through extensive testing and analysis conducted in Australia, Europe and Asia. Patents and trademarks have been lodged by EcoGraf in all key battery markets to protect the IP associated with this process. Under its Patent Convention Treaty (PCT) filing, patent submissions have also been made in all key planned battery manufacturing hubs which include EU, Korea, Malaysia, Vietnam, East Africa, South Africa and Australia. To ensure the full protection of its technology in the US, EcoGraf has also filed a continuation application based on its present US patent application. EcoGraf’s HFfree™ technology is an environmentally superior and cost-effective process for producing high quality battery anode material using natural flake graphite. The technology underpins vertically integrated battery anode development which the company is advancing the planned Product Qualification Facility (refer announcement September 2022) and working with groups to consider co-location of a commercial scale facilities in the global battery manufacturing hubs. Announcement • May 24
Ecograf Limited Appoints Keith F Jones as Independent, Non-Executive Director EcoGraf Limited announced that Keith F Jones has been appointed to the Board as an independent, non-executive director, effective from 24 May 2023. Mr. Jones is an experienced public company Chairman and Director drawing on a professional background of over 40 years' experience providing corporate finance and advisory services to the mining and resources sector as well as direct experience in resource development. Mr. Jones is a former Chairman of Deloitte Australia and served on that board for 12 years. He is the former Chairman of Gindalbie Metals Limited where he had oversight of the commencement and ramp-up of the $3 billion Karara Magnetite Project and management of the joint venture with Chinese Company Sino Steel. He is founding Chairman of Coda Minerals which is currently developing the Elizabeth Creek Copper Cobalt Project in South Australia. Mr.Jones has extensive transactional and executive leadership experience serving for 15 years as the Managing Partner of Deloitte in Western Australia. He led the National Energy and Resources Group and was advisor on major transactions with a wide range of mining companies including BHP, Rio Tinto and Glencore. Mr. Jones will join the Audit and Risk Committee and will stand for re-election at the 2023 annual general meeting. Announcement • Feb 17
EcoGraf Limited Provides an Update in Relation to the Proposed Framework Agreement for the Development and Operation of the Epanko Graphite Project EcoGraf Limited provided an update in relation to the proposed Framework Agreement for the development and operation of the Epanko Graphite Project (Epanko or the Project). In conjunction with completion of approval processes to enable signing of the Framework Agreement, EcoGraf and the Government of Tanzania (GoT) have agreed to commence registration of Duma TanzGraphite Limited (Duma meaning cheetah in Swahili) as the new Tanzanian mining entity that will develop and operate the Project. The Company is pleased to be working with the Government as a key stakeholder in the development of Epanko, a world class graphite project which is forecast to make an inter-generational contribution to economic, industrial and social development in Tanzania. The Company recently held meetings with key offtake partners and project financiers in Cape Town, who recognise the positive steps Tanzania is taking to encourage new mining developments and the importance of securing additional high quality graphite supplies to meet the rapidly growing global demand for lithium-ion batteries. Following these positive meetings, the Company visited the GoT to provide a graphite market update and technical briefing on the Company's development programs in Tanzania for the Hon Doto Biteko, Minister of Minerals, in Dodoma, and for the Special Presidential Government Negotiating Team, who are completing the approval processes to enable signing of the Framework Agreement. Announcement • Dec 22
EcoGraf Limited Announces Epanko Graphite Project Development EcoGraf Limited announced that it's concluded negotiations with the Tanzanian Special Presidential Government Negotiating Team in relation to the Framework Agreement for the development and operation of the Epanko Graphite Project (Epanko or the Project). The Government of Tanzania is currently completing its approval processes to enable signing of the Framework Agreement, which is expected to occur early next year and represents an important requirement for the financing and development of the Project. Extensive studies have been completed to define and de-risk the Epanko development opportunity, including: completion of a Bankable Feasibility Study led by GR Engineering Services; receipt of the Mining Licence and environmental approvals; comprehensive Independent Engineer's Review by SRK Consulting on behalf of lenders, confirming technical aspects of the proposed development and that the Equator Principles social and environmental planning satisfies International Finance Corporation Performance Standards and World Bank Group Environmental, Health and Safety Guidelines; and 200 tonne bulk testing program and flake graphite sales offtake for key markets in Europe and Asia. Detailed evaluation conducted over the last eight years demonstrates that the unique geology of Tanzanian graphite delivers a superior battery anode material product that outperforms other global reference materials in mechanical shaping, purification and electrochemical benchmarking analysis. As a result, Epanko represents a long-term, expandable source of high-quality natural graphite to supply global industrial markets and provide feedstock for the company's vertically integrated battery anode materials business. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Non-Executive Chairman Bob Pett was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
EcoGraf Limited, Annual General Meeting, Nov 29, 2022 EcoGraf Limited, Annual General Meeting, Nov 29, 2022, at 10:00 W. Australia Standard Time. Location: RSM Australia, Level 32, Exchange Tower 2 The Esplanade Perth 6000 Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2022 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider adoption of remuneration report; to consider re-election of director John Conidi; to consider equity settled short-term incentive for the year ended 30 June 2022 issue of performance rights to director Andrew Spinks; to consider equity settled long-term incentive issue of performance rights to director Andrew Spinks; to consider issue of non-executive director equity rights to director Robert Pett; and to consider other matters if nay. Announcement • Oct 20
EcoGraf Limited Reports the Global Warming Potential Results of the Independent ISO Life Cycle Assessment for Its HFfree Battery Anode Materials EcoGraf Limited reported the global warming potential (GWP) results of the independent ISO Life Cycle Assessment (LCA) for its HFfree Battery Anode Materials. This LCA is a cradle-to-gate study that assesses projected environmental impacts, including global warming impacts associated with product supply chains, a key requirement for global battery and electric vehicle manufacturers. Key findings from the study include: EcoGraf HFfreeTM battery anode material produced with renewable energy has a global warming potential (GWP) of up to 2.8 and 4.6 times lower than the GWP of operational Chinese natural and synthetic graphite materials. HFfree recycling of lithium-ion battery anodes provides a significant environmental benefit, with an almost zero or "CO2 free" footprint of approximately 1.6kg to 2.2kg CO2 eq. per kg EcoGraf RecoBAMTM. Potential to increase recycling lithium-ion battery anode through blending of EcoGraf RecoBAMTM with EcoGraf HFfreeTM battery anode materials hdBAM and superBAM Compelling opportunity to reduce CO2 emissions in the battery supply chain through HFfree purification, recycling, and increased use of renewable energy. EcoGraf engaging with multiple parties on the development of RecoBAMTM recycled anode material products to improve supply chain sustainability and lower battery costs. LCA results support the industry transition to greater use of natural graphite in battery anodes and a reduction in high CO2 emission synthetic graphite. Announcement • Jul 04
EcoGraf Appoints Dale Harris as Chief Operating Officer EcoGraf Limited advised that highly experienced executive Mr. Dale Harris has joined the Company as Chief Operating Officer, with responsibility for driving the development of its integrated battery graphite businesses. Mr. Harris has over 30 years' industry experience across the resources, mineral processing and engineering sectors, with a demonstrated track record in successful project delivery and operational performance. His qualifications include: Bachelor of Engineering Degree from the University of Adelaide Master of Business Administration from the University of Western Australia Completion of leadership and directors' courses at the London Business School and Australian Institute of Company Directors During a career of almost 20 years with Rio Tinto, Mr. Harris held progressively more senior roles in Australia and overseas in the areas of business planning and analysis, project development, construction and commissioning, mining and mineral processing operations, business development, asset management, integrated planning, automation, and business improvement. At Rio Tinto Iron Ore he held the role of Chief Operating Officer as well as several General Manager roles where his responsibilities included the successful operation and continuous improvement of multiple mines and infrastructure networks during a period of rapid expansion. He was the inaugural General Manager of the remote operations centre in Perth and was responsible for the roll-out of the Lean Six Sigma improvement program. He was subsequently appointed Managing Director of Gindalbie Metals Limited and then Chief Executive Officer of its Karara Mining Joint Venture, successfully turning-around the ramp-up of its multibillion-dollar mid-west magnetite mining and beneficiation development. More recently, Mr. Harris was a Director of global engineering group Hatch, where he was responsible for leading the Perth office during a period of significant expansion and growth. During this time Dale and the Hatch team worked with clients across multiple sectors on the development, construction, optimisation and management of complex battery minerals, bulk commodity, and base metal projects in Australia and overseas. Announcement • Jun 15
Ecograf Limited Receives Positive Findings from Research Program by Helmholtz Institute in Germany EcoGraf Limited provided the positive findings from a research program completed by the Helmholtz Institute in Germany, where EcoGraf HFfreeTM proprietary processing technology has been used to purify graphite particles recovered from end-of-life lithium-ion batteries. EcoGraf contributed its environmentally superior HFfree processing expertise to the research program and purified the recovered graphite particles to battery grade specification. The German Government funded program then compared the electrochemical performance of the recycled EcoGraf HFfreeTM graphite with a number of commercial battery graphite products. The testing confirmed that the electrochemical performance of the EcoGraf HFfreeTM recovered graphite matches that of the brand-new commercial anode graphite. These results are further validation of the effectiveness of the EcoGraf HFfreeTM purification process for the production of high performance battery graphite, as well as the reuse of recycled battery anode material for anode, battery and electric vehicle customers. The Company is currently developing the world's first HFfree battery anode material facility in Western Australia and this research demonstrates the benefits of additionally leveraging the EcoGraf HFfreeTM process for graphite recycling. EcoGraf believes this recycling capability will fundamentally change the dynamics of the battery supply chain, leading to a significant reduction in CO2 emissions and lowering overall battery production costs. It uniquely positions the Company to support EU Commission requirements for lithium-ion battery recycling and will assist the global battery industry to optimise its supply chain and transition to closed-loop manufacturing efficiencies. The research program was undertaken in Germany, through a collaboration between the Helmholtz Institute Freiberg for Resource Technology and the Helmholtz Institute Ulm. The results were presented by Anna Vanderbruggen at the Advanced Automotive Battery Conference on June 13, 2022. The conference is a leading forum for battery technologists from major automotive OEMs and their key suppliers to explore development trends and breakthrough technologies shaping the future of vehicle electrification. Anna is an acknowledged expert in anode recycling at the Helmholtz Institute Freiberg for Resource Technology, with her research focussing on the joint recovery of lithium metal oxides and graphite from lithium-ion batteries. She is working with EcoGraf to optimise its HFfree purification technology for recycling a range of lithium-ion battery anode materials. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Non-Executive Chairman Bob Pett was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 01
EcoGraf Limited Announces Submission of the Works and Development Approvals Proposals for Ecograftm Battery Anode Material Facility in Western Australia EcoGraf Limited announced submission of the Works and Development Approvals proposals for its new EcoGrafTM Battery Anode Material (BAM) Facility in Western Australia. The approvals submissions have been prepared with the support of leading industry experts who have extensive experience in undertaking similar processes in the Kwinana-Rockingham Strategic Industrial Area. The area is located approximately 30km south of Western Australia's capital city Perth and has been designated as a priority zone for the development of a globally leading battery minerals processing centre. With support from the Federal Government through major Project Status and Lead Agency Support from the West Australian Government, the EcoGrafTM HFfree BAM Facility is set to be the first of its type built outside of China and will provide customers with a reliable alternative, sustainably produced source of high-quality battery anode materials. In addition to adopting a zero-waste operating strategy that includes maximising the recycling and re-purposing of production inputs, eliminating all gaseous emissions and value-adding by-products, the new facility also adopts a low impact visual design that complements its immediate surrounds and advanced manufacturing purpose The new facility will utilise the Company's unique HFfree purification process that's been developed through extensive analysis and optimisation over the last 5 years in Australia and Germany, including the successful testing of global feedstocks and completion of product qualification programs. The assessment process for the West Australian Government Works Approval and the City of Rockingham Development Approval typically takes 3-4 months, during which EcoGraf will finalise major construction contracts, commence procurement of key processing equipment and complete detailed engineering plans. Announcement • Jan 25
EcoGraf Limited Successfully Produces First GreenRECARB Products EcoGraf Limited announced the production of initial GreenRECARB products as part of the Company's global product development program for the new EcoGrafTM Battery Anode Material (BAM) Facility in Western Australia. EcoGrafTM GreenRECARB is a recarburiser additive for use in electric arc and induction furnace steel manufacturing processes. Steel manufacturers are seeking more sustainably produced additive materials to replace the use of energy intensive, fossil fuel based calcined petroleum coke products. This recarburiser program is part of the extensive international product development program to enhance the value of by-products generated from the manufacture of EcoGrafTM HFfree high density battery anode material products. The initial phase of the EcoGrafTM GreenRECARB program consisted of bench scale formulation of optimum binding, granulation and pelletisation processes to produce a cost-effective and environmentally superior recarburiser product for steel manufacturers. Electric arc furnace steel production currently accounts for approximately 30% of the global steel market and requires a minimum of 3-4% recarburiser additive, providing a market opportunity of up to 1,000,000 tonnes of recarburiser each year. The Company's GreenRECARB product will provide customers with a high purity additive, containing reduced sulfur and nitrogen content and which is manufactured using a lower emission production process compared to existing calcined petroleum coke additives in order to reduce the carbon footprint of the steel manufacturing process. Importantly, the high carbon absorption efficiency of natural crystalline graphite additives in both electric arc and induction furnace steel manufacturing processes is expected to increase the operating efficiency of these furnaces and lower steel production costs. Data obtained from the process flowsheet and pelletiser manufacturing route adopted for the GreenRECARB production program will be used for initial engineering design works in parallel with the customer testing program. Announcement • Jan 20
EcoGraf Limited Announces Update at its new EcoGraf(TM) Battery Anode Material (BAM) Facility in Western Australia EcoGraf Limited (EcoGraf or the Company) announced the following activities at its new EcoGraf(TM) Battery Anode Material (BAM) Facility in Western Australia. Completed process vendor equipment test work that confirmed suitability, resulting in final equipment selection and equipment guarantees. Finalised regulatory permitting and approvals studies covering noise, air and bushfire management that support regulatory submissions. Commenced procurement process for key overseas long lead equipment, enabling delivery program compression. Long lead equipment items include battery supply chain related equipment such as the mechanical shaping equipment. Expanded EcoGraf's project delivery team to manage key supply contracts, site services, utilities and operational readiness aspects (logistics, reagents etc.). The Company remains focused on the stage 1 development with engineering continuing to optimise and incorporate new product lines for the expanded 20,000tpa facility. The Company's Battery Anode Material Facility in Western Australia will use its unique, patent pending EcoGraf(TM) HFfree processing technology. The facility will be the first of its type globally and will export high quality, sustainably produced battery anode material products to anode, lithium-ion battery and electric vehicle markets. EcoGraf's development is well positioned for the anticipated increase in battery minerals demand from South Korea. The South Korean market is expected to drive raw materials demand given it is the large EV battery market outside of China at 34.8%. Their three major battery manufacturers, LG Chem, Samsung SDI and SK Innovation plan to invest $35.3 billion over the next decade. The Company expects to leverage off the regulatory permitting documents once completed to commence the site evaluation of its second facility location in Europe. Board Change • Nov 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Non-Executive Chairman Bob Pett was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 15
Ecograf Limited Announces the Results of an International Mechanical Shaping Program EcoGraf Limited announced the results of an international mechanical shaping program, conducted using a commercial scale plant in collaboration with an industry leading equipment manufacturer, undertaken in conjunction with activities relating to finalising the engineering design works for its new Australian Battery Anode Material Facility. Production of battery anode material (BAM) involves the mechanical shaping and subsequent purification of flake graphite feedstock. Superior mechanical shaping capabilities are essential to achieving customers' specifications for product sizing, particle size distribution and tap density. Higher yields achieved in the mechanical shaping process deliver improved production efficiencies and profitability. A key objective of the joint mechanical shaping program was to ensure the new EcoGraf Battery Anode Material Facility has maximum flexibility to efficiently produce a range of products to satisfy customer requirements. The results of the program have confirmed the opportunity for the new facility to produce three core product ranges to maximise overall yield: 15-16µm battery anode material (SpG 16); ultrafine battery anode material, referred to as `super' BAM products, for high performance battery applications requiring improved energy density characteristics, which typically attracts a pricing premium of 20-25% over SpG 16; and fines bi-products, for use in industrial and alkaline battery applications. Recent Insider Transactions • Jun 24
Independent Non-Executive Chairman recently sold AU$308k worth of stock On the 22nd of June, Robert Pett sold around 530k shares on-market at roughly AU$0.58 per share. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Announcement • May 28
EcoGraf Limited Announces Pre-Construction Locked-Cycle Testwork Completed EcoGraf Limited reported that pre-construction locked-cycle testing has been completed, validating the EcoGraf HFfree purification process, exceeding carbon purity targets, providing the opportunity to reduce production costs and generating data for detailed engineering design works. The pilot testing was commissioned by GR Engineering Services Limited (GR Engineering), on behalf of EcoGraf, to provide data for detailed engineering design works as part of the pre- construction program for the Company's new EcoGraf HFfree Battery Anode Material Facility in Western Australia. A total of six cycles were completed, processing spherical graphite through the multi-stage EcoGraf HFfree purification flowsheet to simulate operational conditions and obtain final data to undertake detailed engineering for construction of the new Western Australian facility. Excellent results were obtained from filtrate recycling supporting reduced feed water requirements while maintaining impurity levels below customers specifications. The removal of impurities was better than anticipated with a 99.97% carbon product outcome and the shape and physical properties were maintained during the testing. Data obtained from the program is being used by GR Engineering to complete detailed engineering design works for the new EcoGraf facility and to finalise equipment specifications in preparation for procurement and construction. Announcement • Mar 16
Ecograf Limited Announces Update on Progress with Sungeel Hitech Co. Ltd EcoGraf Limited announced an update on progress with SungEel HiTech Co. Ltd. to evaluate the EcoGrafTM proprietary purification process to recover and re-use high-purity battery carbon anode material from production scrap and `black mass' from lithium-ion battery materials produced at their South Korean plant. The positive results reported and ongoing program support the Company's decision to commence the engineering design for the modular pilot plant and analysis of the recovered carbon anode material, which will include electrochemical testwork. Based on the positive progress, SungEel has agreed to collaborate with Ecograf on battery recycling and to include a tailored EcoGrafTM recycling process to recover the carbon anode materials in their proposed new recycling plants in Europe and South Korea. This collaboration, together with the engineering and piloting program that is now underway,
provides a clear path for the Company to commercialise its EcoGrafTM recycling process with a major Asian lithium-ion battery recycling company with an extensive and expanding global network of pre-treatment plants to cater to growth in recycling demand. SungEel, through their South Korean hydrometallurgical plant, currently produces 6,000 tonnes of lithium-ion battery materials per year, with plans to increase to 18,000 tonnes per year. SungEel recover cathode metals that include Ni, Co, Cu, Mn, Al and Li. Currently the carbon anode material is not recovered. The addition of the EcoGrafTM process, for recovery of carbon anode material, will enable SungEel to close the loop on battery recycling and contribute to a Circular Economy Solution. Closing the carbon loop on battery recycling has the potential to not only lower the battery unit costs, but also to reduce carbon emissions for the whole EV sector. Battery recycling is gaining increasing importance with leading EV and lithium-ion battery manufacturers stimulated by recent government intervention. For example, the European Commission policy landscape and recently proposed legislative changes will require significantly increased recycling within the battery industry. This is very positive for both SungEel and EcoGraf recycling developments. The proposed plant will accommodate the existing EcoGrafTM purification flowsheet and be designed to deliver sufficient material to enable commercial qualification of the recovered carbon anode material for both the lithium-ion battery and industrial markets. The engineering design works will provide a pilot plant capital cost estimate which the Company plans to fund with support from its R&D programs and collaboration with potential customers. Other aspects of the partnership with SungEel include: SungEel will provide black mass for the pilot plant for the product qualification phase and will review its co-investment in the piloting process once the initial engineering design is completed and costing estimates made available. SungEel and EcoGraf will undertake co-marketing and co-promotion by continuing to introduce battery partners to collaborate and support the evaluation of the recovered anode material, including the EcoGraf's blended anode material back into the battery
supply chain. Announcement • Mar 03
EcoGraf Limited Appoints Howard Rae as Executive Director EcoGraf Limited announced the appointment to its Board of experienced finance executive and current Chief Financial Officer, Mr. Howard Rae as an Executive Director. Howard's appointment as Finance Director fills an essential role on its Board and his strong financial and corporate expertise and experience will be invaluable in the continuing growth of its graphite products and recycling businesses. Announcement • Feb 13
EcoGraf Limited announced that it expects to receive AUD 54.598015 million in funding EcoGraf Limited (ASX:EGR) announced a private placement of 90,996,691 shares at a price of AUD 0.60 per share for gross proceeds of AUD 54,598,014.6 on February 12, 2021. The transaction will include participation from significant institutional investors from ESG fund from New York, a German-based global fund manager and a leading Australian fund manager. The expected payment date is February 19, 2021. Announcement • Feb 02
EcoGraf Limited Announces Anode Recycling Program for Major Electric Vehicle Manufacturer Delivers Outstanding Results EcoGraf Limited announced the outcome of a testwork program utilising the company's HF free proprietary purification process to recover carbon anode material from production waste generated during the manufacture of lithium-ion batteries. Outstanding results of >99.95% carbon purity achieved during the recycling program which confirms the effectiveness of the EcoGraf(TM) process in recovering graphite anode material to the specification required for re-use in lithium-ion batteries for electric vehicles. The company’s recycling strategy is supported by recent European Union Commission legislative changes that require increased levels of battery waste recovery to be achieved, with targets to be increased to 65% by 2025 and 70% by 2030. The stricter regulations demonstrate Europe's intention to improve sustainability across the lithium-ion battery life cycle and encourage electric vehicle and battery manufacturers to contribute towards a climate neutral economy through greater battery recycling. As the battery represents over 40% of the total carbon (CO2) emission footprint of a typical electric vehicle, the benefits in re-using this production waste are significant and will contribute to both a reduction in battery unit costs and carbon emissions. These recycling results, together with previously announced testing and positive customer feedback have encouraged the company to proceed with engineering design for a containerised pilot plant facility to recover carbon anode material. The company is working with several EV and battery manufacturers to support greater recycling utilising the company's ecofriendly process that does not use hydrofluoric (HF) acid and the company looks forward to providing further updates on this new development. Is New 90 Day High Low • Feb 02
New 90-day high: AU$0.52 The company is up 243% from its price of AU$0.15 on 04 November 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: AU$0.24 The company is up 36% from its price of AU$0.18 on 20 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 22% over the same period. Announcement • Dec 02
EcoGraf Limited Announces Further Positive Results from Recycled Lithium-ion Battery Material EcoGraf Limited announced encouraging progress with its battery recycling business after further testing confirmed the successful purification of carbon anode material from lithium-ion batteries. Key Highlights: Positive results of up to 99.8% carbon achieved during testing with potential European customers on the recovery of high purity carbon anode material from battery black mass. Engineering design commenced for a containerised pilot plant. Funding for pilot plant to be sourced through the Company's R&D programs and collaboration with potential customers. Pilot plant to provide recovered carbon anode material for product qualification process, focussed on re-use of graphite in lithium-ion batteries and specialised industrial carbon products. Opportunity to blend its high purity battery spherical graphite from its planned WA manufacturing facility to provide a unique recycled anode material to the lithium-ion battery market. EcoGraf's recycling activities are part of the Company's vertically integrated graphite business to provide an alternative, responsibly produced and cost effect active anode material to anode manufacturers, through the initial EcoGraf(TM) Processing Facility planned for Western Australia and the development of its long-life and low cost Epanko Graphite Project in Tanzania. In conjunction with the extensive growth in lithium-ion battery use for electric vehicles and clean energy storage, recycling of batteries and battery materials has become a major environmental and economic concern for both Government and industry. Is New 90 Day High Low • Oct 05
New 90-day high: AU$0.21 The company is up 228% from its price of AU$0.064 on 07 July 2020. The Australian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 2.0% over the same period. Announcement • Sep 27
EcoGraf Limited Auditor Raises 'Going Concern' Doubt EcoGraf Limited filed its Annual on Sep 25, 2020 for the period ending Jun 30, 2020. In this report its auditor, Ernst & Young LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.