Australia's International Graphite rises to near 11-month high on JV update, debt repayment

International Graphite

28/07/2025 03:17

** Shares of International Graphite IG6.AX rise 11.1% to A$0.08, their highest level since September 6, 2024

** The graphite explorer to form a 50/50 joint venture with Arctic Graphite AS to develop an expandable graphite facility in Europe, preferably in Germany

** Co says major shareholder Comet Resources sells down 27.5 mln shares in firm, with A$1.125 million ($738,900) of proceeds to be used in repaying debts to IG6

** Around 4.3 million shares change hands, vs the 30-day average of 177,567 shares

** Earlier in the day, stock hit its biggest intraday gain since early July 2023

** Stock up 50% this year, including the day's move

($1 = 1.5225 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))