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.
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Hexagon Resources Ltd (ASX:HXG) managing director Mike Rosenstreich has recently returned from a two week roadshow and shares the highlights with Proactive.
The company has also recently updated its name to Hexagon Energy Materials to better reflect the changing focus of the company.