Hexagon Shareholders Approve Rare Earth Investment

Hexagon Energy Materials (ASX:HXG) announced strong shareholder support for its updated business strategy.

As quoted in the press release:

Hexagon’s Managing Director, Mike Rosenstreich, commented, “Picking up on Charles’ remarks at the AGM, and given the strong support for Hexagon’s expanded strategy and entry into REE processing, we plan to start funding development of the Commercial Demonstration Plant forthwith.”
“Initial work will comprise finalisation of the capital budget and schedule, leading to commencement of front-end engineering and design work so that ordering and construction can commence early in Q1 of 2020. To earn our 49 percent interest in American Innovation Metals (AIM) we need to fund the US$2 million build-out of the Demonstration Plant and global patent applications.”
“We are very excited by this opportunity and with shareholder endorsement we want to get on with it. We look forward to working with IMC’s principals to commercialise the RapidSX approach to meet the wide interest that we are aware of from both existing REE producers and advanced project sponsors.”

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