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Collie-based International Graphite launches ASX listing to move a step closer to becoming WA first

Jacinta CantatoreSouth Western Times
This offer will see a prospectus offering of up to 50,000,000 shares, at an issue price of $0.20, is expected to raise proceeds of up to $10 million.
Camera IconThis offer will see a prospectus offering of up to 50,000,000 shares, at an issue price of $0.20, is expected to raise proceeds of up to $10 million. Credit: Mogens Johansen/The West Australian

Collie-based company International Graphite has launched an initial public offering ahead of a planned listing on the ASX.

This offer will see a prospectus offering of up to 50,000,000 shares, at an issue price of $0.20, is expected to raise proceeds of up to $10 million.

In 2021 International Graphite received a $2m State-Government grant to establish a downstream graphite processing plant at Collie, a project expected to create 40 full-time jobs for local workers when operational, which is forecast for later this year.

The new pre-ASX will fund the company’s next move towards becoming the only WA company that does not have to import raw graphite from interstate or overseas, placing the town in the fast lane of the global battery market.

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It comes just months after the company struck a deal with Esperance-based Comet Resources, a deal which will see the Collie-based company process high-quality graphite from Springdale mine.

International Graphite chair Phil Hearse said at the time the deal would expand WA’s footprint in the global e-transport and renewable power storage markets while helping Collie transition from traditional coal industries.

“This literally opens a world of export opportunities for WA,” he said.

Speaking on the new offer Mr Hearse said decarbonisation was fuelling extraordinary forecast demand for batteries worldwide, particularly in renewables, electric vehicles and industrial power storage.

“Building on Australia’s engineering and resource industry knowhow, including our team’s extensive experience in graphite, we aim to be an ethical and reliable supplier of high quality graphite battery anode material and other products, for technology-based customers,” he said.

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