International Graphite Ltd (ASX:IG6, FRA:H99, OTC:IGRPF) will raise $4 million before costs through a placement to sophisticated and professional investors, with funds to support its midstream graphite processing strategy in Europe and Western Australia.
The placement has attracted support from existing shareholders and new institutional and strategic investors, including a cornerstone investment from a UK-based critical minerals and metals fund with commercial experience across the graphite supply chain.
Funding will strengthen IG6's balance sheet as it advances the Alkeemia/IG6 Joint Venture in Italy towards a final investment decision and continues construction work at its Collie Micronising Facility in Western Australia.
Placement details
The company will issue 100 million new ordinary shares at $0.04 per share, representing an 18.4% discount to IG6’s last traded price.
Participants will also receive 1 free attaching option for every 2 shares subscribed for, exercisable at $0.08 per share within 2 years of issue.
The placement will be completed in 2 tranches. Tranche 1 comprises 51,183,687 shares to raise about $2.05 million before costs under the company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A.
Tranche 2, which remains subject to shareholder approval at a general meeting expected in late July 2026, will comprise 48,816,313 shares to raise about $1.95 million before costs.
IG6 directors have committed to subscribe for an aggregate $60,000 through the issue of 1.5 million shares under Tranche 2, subject to shareholder approval under ASX Listing Rule 10.11.
The company will also seek shareholder approval for the issue of all placement options.
Pamplona Capital Pty Ltd acted as lead manager and broker to the placement and will receive a fee of up to 6% of funds raised, as well as 7.5 million options on the same terms as those issued to placement participants.
Funds to support Italy and Collie developments
The money will go toward advancing the Alkeemia/IG6 Joint Venture to a final investment decision and commencing early works.
Funds will also be directed towards completing equity funding for construction and commissioning of the Collie Micronising Facility, along with working capital and general corporate expenses.
In addition to the placement proceeds, the company has about $7.6 million of undrawn grant funding available from 3 Western Australian Government programs to support construction of the Collie facility and further midstream initiatives, including product expansion.
Building a midstream graphite platform
International Graphite is working to establish midstream graphite processing operations across Europe and Australia to supply high-specification industrial graphite products to markets seeking secure alternatives to traditional supply chains.
The Alkeemia/IG6 Joint Venture is based at Porto Marghera in Italy, while the Collie processing facility in Western Australia forms the Australian component of the company’s processing platform.
IG6 also owns the Springdale Graphite Project in Western Australia, which provides potential long-term feedstock optionality for future expansion of processing operations.
Managing director and CEO Andrew Worland said the placement reflected growing recognition of the value creation opportunity presented by the company’s European graphite processing platform.
“Our projects are characterised by their capital efficiency, cost competitiveness and are highly strategic in the context of Western markets seeking secure and reliable alternatives to traditional supply chains,” Worland said.
“This is a period of significant growth for IG6.
“The placement strengthens our balance sheet and positions our company to accelerate the Alkeemia/IG6 Joint Venture towards a final investment decision this year, while construction of the Collie Micronising Facility ramps up.
“Together these projects provide the foundation for IG6 to become a significant supplier of high-spec industrial graphite products.”
Establishing a European hub
International Graphite is moving to establish a European graphite processing hub in Italy through a joint venture with Alkeemia S.p.A., strengthening its strategy to supply high-value graphite products into industrial, energy storage, advanced manufacturing and defence markets.
The company has entered into a Joint Venture and Shareholders’ Agreement with Alkeemia, one of Europe’s leading chemical manufacturers, for a proposed graphite processing operation at Porto Marghera, near Venice.
The planned operation brings together IG6’s graphite processing capability and Alkeemia’s established industrial footprint at Porto Marghera.
Alkeemia’s contribution includes access to land, utilities, warehousing, laboratory services, control rooms, permitting systems, logistics infrastructure and an experienced operational workforce.
This existing infrastructure is expected to support a more capital-efficient pathway for International Graphite as it advances its European midstream processing strategy.