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Hazer Group’s Geoff Pocock exercises in-the-money options

The Hazer Process is a low-emission hydrogen and graphite production process.
Geoff Pocock
Managing director Geoff Pocock has exercised 3 million options

Hazer Group Ltd (ASX:HZR) managing director Geoff Pocock has demonstrated his confidence in the company by increasing his stake with the exercise of 3 million options.

The options are valued at $0.25 each and the total consideration was $750,000.

Hazer shares were last trading at $0.53.

Pocock now holds an 8.17% indirect interest in the company, amounting to 7.2 million shares, up from 4.2 million.

The interest is held primarily through Ooffy Prosser Pty Ltd with 6.7 million shares while Pocock’s spouse Maria Pocock holds 500,000 shares.

Director Danielle Lee exercises options

Director Danielle Lee also exercised 150,000 options at $0.25 each for total consideration of $37,500.

The company has developed the Hazer Process, which enables the effective conversion of natural gas and similar feedstocks, into hydrogen and high-quality graphite, using iron ore as a process catalyst.

READ: Hazer Group teams with Mineral Resources to build synthetic graphite facilities

Hazer Group recently executed a binding agreement with Mineral Resources Ltd (ASX:MIN) for the design and construction of commercial scale synthetic graphite facilities.

Mineral Resources will fund all commercial development, with Hazer providing intellectual property and technical assistance.

Initial focus on pilot scale facility

The initial focus of the collaboration will be on a pilot scale facility capable of producing one tonne per annum of high quality graphite suitable for high value applications including lithium ion batteries.

The agreement is a significant commercial milestone for Hazer and is expected to accelerate the commercial deployment of the Hazer Process.

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