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Hexagon Resources Ltd.
Summary
| Project: | McIntosh | |
|---|---|---|
| Deposit: | McIntosh | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 5/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 31-5-2017: Hexagon Resources Ltd. announces a Pre-Feasibility Study report for its McIntosh deposit at the McIntosh project. Initial ore reserve and pre-feasibility study results incl. post-tax NPV (8%) of A$183M. The Board of Hexagon Resources Limited (A | |
| Resources: | (Reserve, Prob.): 11.9Mt @ 4.3% TGC for 511kt graphite at project | |
| CP/QP: | [Resources]: Shane Tomlinson, Mike Rosenstreich (Internal) | |
| ABSTRACT: | The Board of Hexagon Resources Limited (ASX: HXG) is delighted to report on the key outcomes of the Company’s Pre-Feasibility Study (PFS) into the development of the first stage of its 100% owned McIntosh Flake Graphite Project, located in Western Australia. The outcomes confirm the technical and financial viability of the initial project development and provide a very strong rationale to advance the project through a Feasibility Study (FS) towards development. The PFS outcomes are based on a mining and ore processing rate of 2.4Mtpa, at an average diluted grade of 4.3% total graphitic carbon (TGC), to produce approximately 88,000 tonnes per year of highgrade, 98% TGC flake graphite concentrate. The Company’s marketing strategy is to produce highgrade and premium quality flake concentrate. This is planned to attract long-term off-take parties to “build” their procurement policy around large scale, quality production from a stable, reliable jurisdiction such as Australia, located close to their manufacturing bases, most likely in Southeast Asia. Through key partnerships and underpinned by the prerequisite test work, this will provide the pathway to produce and sell higher value intermediate products to the battery manufacturers and other high-specification markets including possibly the expandable graphite sector. | |
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