** Shares of International Graphite IG6.AX rise as much as 29.6% to A$0.07, posting their largest intraday pct jump since late March

** Specialty miner secures A$4.5 mln ($2.96 mln) grant funding agreement with the Western Australia government

** Agreement to start construction of commercial graphite micronising plant

** Stock hits highest level since Oct. 8

** More than 388,000 shares change hands, 2.4 times the 30-day avg

** IG6 down ~56.9% YTD

($1 = 1.5211 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))