Australia's International Graphite surges on agreement with WA government

International Graphite

18/10/2022 03:33

** Shares of Australia's International Graphite  IG6.AX 
rise as much as 4.7% to A$0.34, set for biggest jump since Oct.
11, if gains hold
    ** The graphite producer has finalised a A$2 million ($1.26
million) Financial Assistance Agreement with the Western
Australian Government's Department of Jobs, Tourism, Science and
Innovation on behalf of the Stage Government of Western
Australia  urn:newsml:reuters.com:*:nASXkHbRs
    ** Says funds to be applied to Micronising Facility and
continued R&D of battery anode material facilities
    ** Adds financial assistance for development of 1,000 tonne
per year commercial graphite micronising facility and ongoing
research and development at the company's planned battery anode
material plant in Collie
    ** Stock down 11.1% since its IPO in early-April
($1 = 1.5913 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))