Highlights

  • International Graphite has requested a Trading halt of its securities pending the release of an announcement regarding a binding joint venture agreement with Alkeemia S.p.A.
  • The trading halt has been issued under ASX Listing Rule 17.1, as confirmed by an ASX Compliance market announcement dated 22 May 2026.
  • Securities will remain in trading halt until the earlier of the release of the company's announcement or the commencement of normal trading on Tuesday, 26 May 2026.
  • The halt request was signed by International Graphite Managing Director and CEO Andrew Worand, addressed to ASX Compliance Pty Ltd in Perth.
  • International Graphite says it is not aware of any reason the request should not be granted, or of any other information relevant to the request.
  • Terms, scope and any financial details of the binding joint venture with Alkeemia S.p.A. have not yet been disclosed and will be set out in the company's forthcoming announcement.

International Graphite Limited (ASX:IG6) has been placed in a trading halt by ASX Compliance, at the company's own request, while it prepares to release an announcement regarding a binding joint venture agreement with Italian chemicals group Alkeemia S.p.A.

According to the ASX market announcement dated 22 May 2026, the securities of International Graphite will remain halted until the earlier of the release of the relevant company announcement, or the commencement of normal trading on Tuesday, 26 May 2026.

The halt request, addressed to ASX Compliance Pty Ltd in Perth and signed by Managing Director and CEO Andrew Worand, was made under ASX Listing Rule 17.1. International Graphite said it was not aware of any reason the request should not be granted, or of any other information relevant to the request.

What the company announced

The market announcement, issued by ASX Compliance, confirmed that trading in International Graphite (ASX: IG6) securities will be halted at the request of IG6, pending the release of an announcement by the company.

ASX stated that, unless it decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 26 May 2026, or the release of the announcement to the market.

Attached to the market announcement is a letter from International Graphite dated 22 May 2026, formally requesting the trading halt pursuant to ASX Listing Rule 17.1. The letter is addressed to Sam Dorland at ASX Compliance Pty Ltd, Level 40 Central Park, 152-159 St Georges Terrace, Perth WA 6000.

In that letter, International Graphite specifies that the trading halt relates to a 'binding joint venture agreement with Alkeemia S.p.A.' The company asks that the halt remain in place until the earlier of the relevant company announcement to the market and the commencement of trading on Tuesday, 26 May 2026.

The trading halt letter was signed by Andrew Worand, Managing Director and CEO of International Graphite. The company stated that it is not aware of any reason why the request should not be granted, or of any other information relevant to the request.

No further details about the structure, scope, financial terms, ownership arrangements, asset contributions, governance, milestones or commercial implications of the proposed joint venture with Alkeemia S.p.A. were included in the ASX or company documents released on 22 May 2026. Those particulars are expected to be set out in the forthcoming announcement that ends the halt.

Key numbers from the announcement

While the 22 May 2026 documents do not include financial metrics for the proposed transaction, the following procedural and corporate reference points can be drawn from the trading halt notice and International Graphite's letterhead.

  • Listing Rule cited: ASX Listing Rule 17.1 (request for trading halt).
  • Maximum duration: until the earlier of the release of IG6's announcement or commencement of normal trading on Tuesday, 26 May 2026.
  • Counterparty: Alkeemia S.p.A.
  • Nature of pending agreement: a binding joint venture agreement.
  • Author of halt request: Andrew Worand, Managing Director & CEO, International Graphite Limited.
  • ASX ticker: IG6; Frankfurt Stock Exchange ticker: H99.
  • Key sites referenced on company letterhead: corporate office at North Perth (WA), Collie plant at Collie (WA) and Springdale at Hopetoun (WA).

What Investors need to Know

The 22 May 2026 trading halt notice is procedurally brief, and it is important to be precise about what International Graphite (ASX: IG6) has and has not said. The company has confirmed that it is preparing to release an announcement regarding a binding joint venture agreement with Alkeemia S.p.A., and that it has requested a halt under ASX Listing Rule 17.1 to allow that announcement to be released to the market in an orderly way.

Beyond that confirmation, the details of the proposed joint venture – including the Assets, services or technology it would cover, the Equity split, Capital contributions, governance arrangements, milestone obligations, exclusivity, area of operation and financial implications – have not been disclosed in the documents released on 22 May 2026.

International Graphite's letterhead references three key operational footprints: the corporate office in North Perth, the Collie plant in the South-West of Western Australia, and the Springdale site near Hopetoun on Western Australia's south coast. These addresses are consistent with the company's publicly stated focus on building a vertically integrated battery anode materials Business in Australia.

Investors should treat any commentary about how the Alkeemia joint venture will fit into International Graphite's broader strategy as speculative until the substantive market announcement is released. Until then, the only definitive information is the existence of a forthcoming binding joint venture agreement and the brief procedural details set out in the trading halt documents.

Management commentary

The 22 May 2026 trading halt request was signed by Andrew Worand, Managing Director and CEO of International Graphite Limited. Mr Worand's letter to ASX Compliance Pty Ltd states, in the company's own words: 'In accordance with ASX Listing Rule 17.1, International Graphite Ltd (ASX IG6) requests a trading halt of its securities pending the release of an announcement regarding a binding joint venture agreement with Alkeemia S.p.A.'

The letter further states: 'International Graphite Ltd requests the trading halt remain in place until the earlier of such time as it makes an announcement to the market in relation to the joint venture and the commencement of trading on Tuesday 26 May 2026.'

Mr Worand also confirmed: 'International Graphite Ltd is not aware of any reason why the request should not be granted, or of any other information relevant to this request.' No further executive commentary on the substance of the joint venture was provided in the 22 May 2026 documents.

Why this ASX announcement matters

For ASX investors tracking critical minerals and the battery materials Supply chain, the announcement of a forthcoming binding joint venture for International Graphite (ASX: IG6) is a material corporate event, even before the details are known.

Trading halts under ASX Listing Rule 17.1 are typically requested when a company wants to release price-sensitive information without the risk of an uninformed market. The fact that IG6 has framed the pending announcement as a 'binding' joint venture suggests negotiations have moved beyond the memorandum of understanding stage – although investors should wait for the formal announcement to confirm structure and obligations.

Alkeemia S.p.A. has not been previously referenced in the 22 May 2026 documents in any operational context. Any assessment of the strategic, geographic or commercial significance of the joint venture for International Graphite's existing footprint in North Perth, Collie and Springdale should be deferred until the company sets out the terms.

Until then, the most useful interpretation for shareholders is that International Graphite is signalling a substantive corporate transaction has been negotiated and is moving toward a public announcement, with the halt providing a controlled disclosure window.

Investor implications

Existing International Graphite shareholders should be aware that, while the trading halt is in place, they will not be able to buy or sell IG6 shares on the ASX. Trading is expected to resume on the earlier of the release of the substantive announcement or the start of normal trading on Tuesday, 26 May 2026.

Investors considering International Graphite for the first time should wait for the substantive announcement before forming a view. The 22 May 2026 documents do not provide any pricing, structural or financial information about the proposed transaction with Alkeemia S.p.A.

Once the joint venture announcement is released, investors may wish to focus on questions such as: which assets or technologies the JV covers, the equity and funding split between IG6 and Alkeemia, any binding milestone obligations or conditions precedent, governance and offtake arrangements, and how the JV is expected to interact with the company's existing operations.

Risks and uncertainties

As with any trading halt, there is a risk that the eventual announcement is received differently by the market than expected, which could result in share price movement in either direction once trading resumes.

The agreement is described by the company as binding, but as with all transactions, there can be conditions precedent, regulatory approvals, financing requirements or other obligations that need to be satisfied. Investors should review the full terms when disclosed.

International Graphite has not disclosed financial terms in the trading halt documents. Funding, dilution and Capital Structure implications will only become clear once the substantive announcement is released and any associated capital management activities are detailed.

Joint venture arrangements typically come with operational and counterparty risk. The performance of any JV with Alkeemia S.p.A. will depend on factors outside International Graphite's sole control, including the partner's ability and willingness to perform.

Macro factors affecting the graphite and battery materials sector – including Demand from EV and energy storage end markets, Commodity pricing, supply chain dynamics and trade and policy settings – may influence how the joint venture performs over time.

What investors should watch next

  • Release of International Graphite's (ASX: IG6) substantive announcement regarding the binding joint venture agreement with Alkeemia S.p.A.
  • Confirmation of the structure, scope, equity split, governance arrangements and any conditions precedent of the joint venture.
  • Any disclosure of financial contributions, funding obligations or capital management activities associated with the transaction.
  • Statements regarding how the JV interacts with International Graphite's existing operations in North Perth, Collie and at Springdale.
  • Resumption of normal trading in IG6 securities at the earlier of the release of the company's announcement or the start of trading on Tuesday, 26 May 2026.
  • Any subsequent commentary or guidance from International Graphite on milestones, timelines and how the JV fits within its broader battery anode materials strategy.