International Graphite (ASX:IG6) said its proposal will now be considered for award funding as it has received positive feedback from the US Department of Defense, through the Defense Industrial Base Consortium, according to a Monday Australian bourse filing.
The company is seeking funding of up to $7.5 million to complete feasibility studies that would seek to confirm the viability of the Springdale Graphite Project and downstream processing facilities.
The company's shares were up 13% in recent Monday trade.
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