Evolution Energy confident of investment plans

West Perth-based Evolution Energy Minerals is optimistic its investment plans with BTR New Material Group will go ahead as planned.

Under the proposed deal, BTR would subscribe to shares representing 9.90 per cent of Evolution, subject to conditions. 

Evolution Energy representatives have spent the week in China, where they have been in dialogue with BTR in order to facilitate the decision for both parties. They told the market they had not been informed of any due dilligence issues involving BTR. 

The company has also decided to withdraw a resolution from its upcoming shareholders meeting on January 8, in order for shareholders to be able to vote on the investment and its benefits, while being aware of BTR's final approval process. 

A final approval is expected by January 31.

Evolution Energy last traded at 13 cents per share, with its most recent high of 24 cents per share occuring on August 16 2023.