Initial Public Offer Launched by WA-Based Graphite Company

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International Graphite Limited recently launched an Initial Public Offer (IPO). The move comes before the company’s planned listing on the Australian Securities Exchange (ASX).

The company offered up to 50,000,000 shares at $0.20 and is expected to raise proceeds up to $10 million.

The funds will support International Graphite‘s development as the first vertically intergrated graphite company which operates in Western Australia. The company plans to manufacture battery anode material for the Lithium-ion battery market which is continuously growing.

“Decarbonisation is fuelling extraordinary forecast demand for batteries worldwide, particularly in renewables, electric vehicles and industrial power storage,” Graphite International Executive Chairman Phil Hearse said.

“Our vision is to establish a fully integrated graphite production business, taking graphite and concentrates from Springdale for downstream processing at Collie. 

“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. 

“This will strengthen Australia’s sovereign capability in the critical minerals space and give us supply chain custody from mine to customer,” he added.

 The company is based at the southwest are of Western Australia, the centre of a growing battery industry and renewable hub. A $2 million grant from the Collie Futures Industry Development Fund was used by the WA State Government to invest in International Graphite.

The proceeds from the Share Offer will be utilized for the final steps of International Graphite’s acquisition of Comer Resource’s Springdale Graphite Project near Hopetoun, and will be used for the following purposes:

  • Testwork and process design
  • Exploration, upgrading, and expansion of the mineral resource estimate
  • Feasibility study for mining and permitting

The funding will support downstream graphite processing held at International Graphite’s new Collie Production Facility which includes:

  • Purification process development for graphite concentrate coming from Springdale.
  • The installation, commissioning, and operation of a graphite spheroidising pilot plant and micronising equipment
  • Feasibility studies for production operations optimised for concentrates from Springdale.

The Share Offer is coordinated by
Peloton Capital and The Pamplona Group.

Update as of March 9, 2022 is that the offer has been closed already.

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