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Hexagon Resources in trading halt pending McIntosh Joint Venture news

The company has an interest in the McIntosh Flake Graphite Project in northern Western Australia.

ASX boards
Hexagon is also planning to develop a standalone graphite purification and processing plant

Hexagon Resources Ltd (ASX:HXG) has been granted a trading halt by the ASX , pending a material announcement regarding the McIntosh Joint Venture.

The trading halt will remain until the beginning of normal ASX trading on Thursday, June 6, or when an announcement is released to the market, whichever occurs earliest.

READ: Hexagon Resources intends moving to feasibility study for graphite processing plant

The company aims to proceed to a feasibility study for its proposal to develop a standalone graphite purification and processing plant (GPPP).

This follows a positive scoping study which generated strong financial results highlighting the opportunity to deliver impressive margins by value-adding in the downstream graphite supply chain.

Potential development of the GPPP is separate to Hexagon’s interest in the McIntosh Flake Graphite Project in northern WA at which Mineral Resources Limited (ASX:MIN) has earned a 51% equity.

Quick facts: Hexagon Resources Ltd

Price: 0.056 AUD

ASX:HXG
Market: ASX
Market Cap: $16.34 m
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