|Bid||0.0500 x 0|
|Ask||0.0600 x 0|
|Day's Range||0.0540 - 0.0560|
|52 Week Range||0.0540 - 0.1650|
|Beta (3Y Monthly)||-2.27|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.37|
Hexagon Resources Limited (HXG.AX) (“Hexagon” or the “Company”) is pleased to announce it has executed a binding Investment Agreement (“BIA”) whereby Hexagon has an Option to acquire a 49% interest in an advanced, downstream rare-earth elements (“REE” or “REEs”) separation technology from Innovation Metals Corp. (“IMC”). IMC’s proprietary RapidSX™ REE separation technology holds the potential to enable current and future REE producers outside of China to serve US, European, Japanese and Korean markets, mitigating the current extreme concentration of REE supply and separation capability in China. The rare-earth processing business meshes well with Hexagon’s build-out of downstream processing of energy materials and is well covered by the US team that the Company has already assembled.
(“IMC”) is pleased to announce the execution of a binding Investment Agreement (“BIA”) with Hexagon Resources Limited (ASX:HXG) (“Hexagon”), on the formation of American Innovation Metals Inc. (“AIM”), a new joint-venture company focused on the commercialization of IMC’s RapidSX™ technology for the separation of rare-earth elements (“REEs”). Through the BIA with IMC, Hexagon has an Option to acquire 49% of AIM with an exercise price of US$2.0 million, plus US$4.0 million in deferred consideration. Hexagon will also contribute commercial and marketing capabilities to identify and to secure feedstocks, generate licensing opportunities for the RapidSX technology and sales/offtakes for REE oxides (“REOs”) produced.
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