logo-loader
viewHexagon Energy Materials Ltd

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.

Quick facts: Hexagon Energy Materials Ltd

Price: 0.053 AUD

ASX:HXG
Market: ASX
Market Cap: $15.5 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Hexagon Energy Materials Ltd named herein, including the promotion by the Company of Hexagon Energy Materials Ltd in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Hexagon Energy Materials: Takeover of partner is 'strong signal of support'...

Hexagon Energy Materials Limited (ASX:HXG) managing director Mike Rosenstreich discusses with Proactive's Andrew Scott the takeover of its partner IMC and how they're set to benefit from the option to acquire 49% of their RapidSX technology. RapidSX is a unique accelerated form of solvent...

on 1/5/20

2 min read