ASX-listed International Graphite is now a dual-listed company after its shares began trading on the Frankfurt Stock Exchange.
According to the company, the move to list on the German bourse signals its intention to cultivate close ties in the German market where it is investigating technology and discussing the testing of its Springdale graphite concentrate with downstream battery technology companies.
Shares in International Graphite were trading at €0.23 on intraday trading on the European platform.
The company is a member of the European Battery and the European Raw Minerals alliances and has earmarked the region’s emerging battery and electric vehicle supply chain as a priority market.
International Graphite’s move to cross the pond and list on the world’s 12th largest stock exchange by market capitalisation, follows a string of similar dual listings on other exchanges by ASX-listed explorers including Neometals, European Metals and the $1 billion-plus market-capped Vulcan Energy Resources.
The entry bookends a busy period for International Graphite after only about a week ago marching onto the boards at the ASX with an impressive debut that saw 13 million shares trading hands across a $0.365 to $0.42 range on the day.
The German listing followed the successful completion of a $10 million IPO and the acquisition of the Springdale graphite project in Western Australia from Comet Resources. Remarkably, the company opened at A$0.40 per share, double the IPO price.
International Graphite says it will use the funds from its fresh cash injection to develop a new source of battery graphite for the global electric vehicle industry and renewable energy markets.
Unlike many other operators in the space, the company is aiming for complete control of its supply chain and will use the concentrate from its Springdale deposit to produce battery anode materials at its nearby processing facility in Collie, WA.
At Springdale, International Graphite already lays claim to an inferred resource of more than 15 million tonnes with a total graphite content of 6 per cent but says the venture boasts a higher grade inferred resource of 2.6 million tonnes at 17.5 per cent TGC.
The company is advancing a feasibility study for the deposit, which could result in it launching an open pit mining operation within the next two years
International Graphite plans to refine its Springdale graphite at the Collie downstream processing facility to produce micronised graphite, an ultrafine material used in the construction of lithium-ion batteries.
Europe’s evolving battery sector is expected to be worth around €250 billion per year by 2025 and International Graphite is hoping the move to list on the Frankfurt Stock Exchange will aid attempts to carve out its own slice of the lucrative market through the sale of its future battery anode material.
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