International Graphite (ASX: IG6) managing director and chief executive officer Andrew Worland joins Small Caps to discuss the recent breakthroughs in the company’s projects and forecasts of strong market growth for the key battery metal, graphite.

The company has shored up its balance sheet by reaching an agreement with its major shareholder Comet Resources and received a $1.3 million payment from the Australian Research and Development (R&D) Tax Incentive Scheme for the 2023 financial year.

The R&D refund provides International Graphite with additional working capital to support the execution of its strategy to develop an Australian battery anode material.

In mid-February, International Graphite successfully wet-commissioned its new graphite micronising plant in Collie, WA.

The 200 tonnes per annum qualification-scale microniser is the largest in Australia and a milestone in the development of a domestic graphite industry.

All these milestone comes at a time when the macro foundations for battery metal industry are strong with EV sales in the US hitting a record last year, while graphite prices are expected to spike after China recently made significant policy changes restricting the export of graphite.

Articles:
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For more information on International Graphite:
https://smallcaps.com.au/stocks/asx-ig6/

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