Hexagon Energy Materials Ltd
Hexagon Energy Materials Ltd (ASX:HXG) is listed on the Australian Securities Exchange.
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Hexagon Energy Materials gains new substantial holder in UBS Group
Hexagon Energy Materials Ltd (ASX:HXG) has gained a new substantial holder in UBS Group AG and its related bodies corporate.
UBS now holds about 15.9 million shares in the company, with a voting power of 5.44%.
RapidSX Commercial Demonstration Plant
Hexagon's core focus is to implement the development plan for the RapidSX Commercial Demonstration Plant (CDP) with its partner Innovation Metals Corp (IMC) for the downstream separation of rare earth elements (REE) and source the US$2 million of investment required to complete that work.
The company is in discussions with several parties to satisfy this requirement.
With initial direct meetings completed, but with further meetings rescheduled or reformatted due to COVID-19 travel restrictions - Hexagon is expected to complete negotiations remotely over the next few months.
In terms of progressing the CDP, other than financial timing, the main risk is anticipated to be the ability of clients to have sample material available for testing as the facility comes online, currently planned for the fourth quarter of 2020.
Other activities which are ongoing include; flowsheet enhancements and optimisation, patent preparation, development of the commercialisation strategy and discussions with clients on new technical services agreements.
At the end of February, Hexagon had a closing cash balance of $1.8 million with no debt.
Other Hexagon Energy Materials Ltd news
- Hexagon Resources pursuing dual strategy to establish cash flow positive graphite business
2019-06-06 - Hexagon Resources achieves five-nines graphite purity, exceeds industry specs
2018-12-11 - Hexagon Resources confirms economic graphite development
2017-05-31 - Hexagon Resources Ltd sees economic potential for gold and base metals
2016-11-14 - Hexagon Resources eye flake graphite expansion prospects
2016-11-08
