Proactive Investors - Run By Investors For Investors

Hexagon Resources’ substantial shareholder UBS increases stake

The company aims to develop a standalone graphite purification and processing plant at the McIntosh joint venture project in WA.
ASX building
The plant would manufacture high-specification graphite products

Hexagon Resources Ltd (ASX:HXG) has received a further show of confidence from UBS Group AG and its related entities, which have increased their holding to 6.99% from 5.78%.

The company is pursuing a dual path to achieve its objective of establishing a cash flow positive business in the graphite industry and ultimately control an integrated upstream to downstream business.

 

Hexagon aims to develop a standalone graphite purification and processing plant (GPPP) at the McIntosh joint venture project in WA.

The company recently revealed 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.

The GPPP would manufacture high-specification graphite products, such as materials to be used in battery and technical/industrial applications.

View full HXG profile View Profile

Hexagon Resources Ltd Timeline

Related Articles

Lindi Jumbo is in southeast Tanzania, 200 kilometres from Mtwara port
April 23 2019
This month's offtake and marketing agreements come after a 'derisking' update to its DFS.
Fort Cady Borate Project in Southern California
March 11 2019
The company has a strategic cooperation agreement with a borate consumer subsidiary of Sinomach.
A Ghana map showing its capital Accra
January 16 2019
A PFS found that the project in Ghana could generate US$1.4 billion free cash flow before tax.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use