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Hexagon Resources 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 Resources Ltd

Price: 0.072 AUD

Market: ASX
Market Cap: $21.01 m
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