Hexagon Resources Ltd (ASX:HXG)

Hexagon Resources Ltd (ASX:HXG)


Share Price
$ 0.14
Change
-0.005 (-3.57 %)
Market Cap
$39.39 m
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Hexagon Resources Ltd

Hexagon Resources Ltd (ASX:HXG) is listed on the Australian Securities Exchange.

EPIC: HXG
Market: ASX:HXG
52-week High/Low: A$0.28 / A$0.12
Sector: Mining
Market Cap: $39.39 m
Website: www.hexagonresources.com
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Big Picture – A Deep Dive Examination of Hexagon Resources Ltd


Hexagon Resources Ltd Snapshot

Hexagon Resources aims to become a vertically integrated graphite business supplying high-specification graphite materials to the energy storage sector, sophisticated technology applications and high-end industrial uses from its McIntosh project in Western Australia.

McIntosh Graphite Project

A low-risk, fully funded graphite project with quality downstream products

Upstream

Our flagship McIntosh Project is a large-scale, high quality flake graphite deposit located in the Kimberley region of Western Australia.

Resources for the project currently sit at 21.3 million tonnes grading 4.5 per cent total graphite carbon (TGC) for 964,000 contained tonnes (25 April, 2017). There is a significant Exploration Target comprising 110 to 220 million tonnes grading between 2.5 and 5.0% TGC which the Company will drill test to build up the project life. Hexagon has deliberately focused its technical resources on verifying the technical attributes of the McIntosh graphite flake as a genuine driver of value rather than build up the “mining metrics”. Graphite is an industrial mineral where the focus needs to be on product specifications and marketing.

Partnered with ASX-listed Mineral Resources Limited (MRL), MRL will fund all Feasibility Study work, capital development and ramp-up costs to earn a 51 per cent interest in the project (subject to a positive feasibility study).

A Definitive Feasibility Study kicked off in mid-2018 and seeks to increase the Mineral Resource and to further optimise the process flowsheet to produce several flake graphite concentrate products defined by flake size.

Commercial production is planned to commence in 2021.

Downstream

Metallurgical studies show McIntosh graphite is high purity, high value with low purification costs. The concentrate material can be purified to levels between 99.99(4N) and 99.999(5N) per cent (five nines graphite the “nuclear purity world”). As Hexagon sought to diversify its end use applications it found that the Mineral Resource is dominated by graphite flakes classed as Large, Jumbo and Super Jumbo size.

McIntosh graphite meets many premium end use requirements and has a range of technical attributes. Its rare and highly ordered crystalline structures make it suitable to displace synthetic graphite and it is easy and low cost to produce purify and micronise with excellent electrochemical properties.

(click here for more information on this project)


Other Projects

Halls Creek Project

The Halls Creek Project is an early stage gold and base metal exploration project located in the east Kimberley region of Western Australia.

Covering 651 square kilometres, the project has had very little systematic exploration work to date.
A number of high-priority targets and new prospective zones have been identified across the project, including the Lady Helen Au-Ag prospect where very high grades were returned from early exploration work.

Although exploration continues, Hexagon is assessing options for Halls Creek as a non-core project such as farm out or spin out.

A historic gold region

The east Kimberley Mineral Field contains the first ever gold discovery in Western Australia in 1885 at Old Halls Creek. Significant gold been produced from the area since that time.

Prospecting in the seventies and eighties located significant high grades of between 10 to 60 g/t gold. A mesothermal lode gold mineralisation been found by Bulletin Resources (ASX:BNR) in the area where an inferred and indicated resource of 1.38 million tonnes grading 5.58 g/t Au has been reported.

Similar styles of epithermal to mesothermal gold mineralisation has been located at Lady Helen and Townsite prospects within our tenements, west of Halls Creek.

 


Last updated 21st November 2018

Charles Whitfield
Chairman

Mr. Whitfield is the Principal Investment Officer at Drumrock Capital, an investment firm providing capital and advisory services to start-up and early round companies. He has undertaken board and supporting roles in several companies in the specialty resource and new energy space. He was formerly a Managing Director with Citigroup where he held the position of head of the corporate equity solutions group (Asia Pacific). Prior to this, he worked for Deutsche Bank where he was head of the strategic equity transactions group (Asia Pacific). Mr. Whitfield received his Masters in Business Administration (majoring in Finance and Strategy) from Columbia Business School (New York) in 1998 and his Bachelor of Economics from The University of Exeter (U.K).


Mike Rosenstreich
Managing Director

Mike Rosenstreich is an international mining executive with over 30 years’ experience including;13 years as an exploration and mine geologist with Homestake Gold and Dominion Mining; 6 years Corporate Finance with Rothschild Australia; 9 years as founding Managing Director of ASX listed Bass Metals from pre IPO stage, exploration success and over 5 years of base and precious metals production; and 3 years at Keystone Resource Development providing corporate, technical and financial consulting services. During this time he has been involved in a wide range of commodities from gold and base metals to industrials such as tantalum, feldspar and mineral sands across the globe. He joined Hexagon in March 2017 and since then has been instrumental in charting Hexagon’s path to commercialise its McIntosh Graphite project, located in Western Australia.

Mike is a Fellow of the AusIMM and a member of the AICD. He holds a BSc (Hons) in Geology and Masters in Mineral and Energy Economics.


Garry Plowright
Non-Executive Director

Mr Plowright has extensive experience in the resource sector, having a background in mining law and administration, as well as regulatory process and mine development. Mr Plowright has held board and senior management positions in both Australia and South Korea.

 

Rowan Caren
Company Secretary

Rowan is a Chartered Accountant and graduated with a B.Com from the University of Western Australia. Rowan has over 20 years of experience in the minerals exploration industry and has provided financial and corporate services to several listed and unlisted companies involved in the resources sector.

He joined Hexagon as Company Secretary in September 2017.

 

Last updated 21st November 2018

REGISTERED OFFICE
Suite 3/7 Kintail Road
Applecross WA 6153
Australia

Postal Address
PO Box 825
Canning Bridge
Applecross WA 6153
Australia

T: +61 8 6244 0349
F: +61 8 6314 6673
E: [email protected]

 

Last updated 21st November 2018

BOARD OF DIRECTORS
Charles Whitfield - Chairman
Michael Rosenstreich - Managing Director
Garry Plowright - Non-Executive Director

COMPANY SECRETARY
Rowan Caren

REGISTERED OFFICE
Suite 3/7 Kintail Road
Applecross WA 6153
Australia

Postal Address
PO Box 825
Canning Bridge
Applecross WA 6153
Australia

T: +61 8 6244 0349
F: +61 8 6314 6673
E: [email protected]

SHARE REGISTRY
Automic
Level 5, 126 Phillip Street
Sydney NSW 2000
Australia

All securityholder correspondence to:
GPO Box 5193
Sydney NSW 2001
Australia

T: 1300 288 664 (within Australia)
T: +61 (0) 2 9698 5414
W: www.automic.com.au

ABN: 27 152 260 814

 


Last updated 21st November 2018

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