New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$100 revenue, or US$69.0). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (AU$78.4m market cap, or US$54.1m). Announcement • Nov 28
NH3 Clean Energy Limited Announces Resignation of Philipp Kin as Director, Effective November 28, 2025 NH3 Clean Energy Limited announced resignation of Philipp Kin as Director, effective November 28, 2025. New Risk • Oct 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m (AU$100 revenue, or US$66.0). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (AU$66.2m market cap, or US$43.4m). Announcement • Oct 14
NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 36,363,637
Price\Range: AUD 0.11
Discount Per Security: AUD 0.0055
Transaction Features: Subsequent Direct Listing Announcement • Sep 30
NH3 Clean Energy Limited, Annual General Meeting, Nov 25, 2025 NH3 Clean Energy Limited, Annual General Meeting, Nov 25, 2025. Location: at allion partners, level 9, 200 st georges terrace, perth wa 6000 Australia New Risk • Sep 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Revenue is less than US$1m (AU$411k revenue, or US$270k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (AU$33.6m market cap, or US$22.0m). New Risk • Jul 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m (AU$1.4k revenue, or US$912). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$26.1m market cap, or US$17.1m). Announcement • Jul 02
NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.71 million. NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.71 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,950,034
Price\Range: AUD 0.03
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,716,633
Price\Range: AUD 0.03
Transaction Features: Subsequent Direct Listing Announcement • Mar 27
NH3 Clean Energy Limited announced that it has received AUD 0.3 million in funding NH3 Clean Energy Limited announced the completion of a private placement transaction to issue 12% Convertible Notes with a face value of AUD 100,000 per convertible note, maturity date of December 20, 2025, and conversion price of AUD 0.02 per Share for Aggregate proceeds of AUD 300,000. The Placement is subscribed for by two investors, with one investor also subscribing for the convertible note. New shares will rank equally with NH3’s existing shares on issue, with trading in the new shares to commence on 28 March 2025. The company paid AUD 18000 as Agency Fees. Announcement • Mar 26
NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.3 million. NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.3 million.
Security Name: Common shares
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.0m market cap, or US$6.95m). New Risk • Mar 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m (AU$1.5k revenue, or US$942). Market cap is less than US$10m (AU$12.1m market cap, or US$7.67m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Announcement • Dec 18
NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.725 million. NH3 Clean Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 0.725 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 40,277,778
Price\Range: AUD 0.018
Transaction Features: Subsequent Direct Listing Announcement • Oct 04
Hexagon Energy Materials Limited, Annual General Meeting, Nov 29, 2024 Hexagon Energy Materials Limited, Annual General Meeting, Nov 29, 2024. Location: at allion partners, level 9, 200 st georges terrace, perth wa 6000 Australia Announcement • Aug 21
Hexagon Energy Materials Limited Announces Company Secretary Changes Hexagon Energy Materials Limited announced that Mr. Ian Gregory will retire as Company Secretary at the end of August 2024. Mr. Gregory joined the Company in 2021. Ms. Joan Dabon of Source Governance Pty Ltd. (Source Governance) has been appointed Company Secretary with effect from 1 September 2024. Joan is a Chartered Secretary with over 8 years' experience in providing company secretarial and corporate advisory services to ASX and NSX listed companies across a variety of sectors including mining, manufacturing, logistics and distribution. Joan has a degree in law, is an associate member of the Governance Institute of Australia, and will have the wider resources of Source Governance at her disposal. New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$349k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$349k free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 5.9% per year over the past 5 years. Revenue is less than US$1m (AU$381k revenue, or US$250k). Market cap is less than US$10m (AU$8.72m market cap, or US$5.72m). Announcement • Oct 05
Hexagon Energy Materials Limited, Annual General Meeting, Nov 28, 2023 Hexagon Energy Materials Limited, Annual General Meeting, Nov 28, 2023. Announcement • Sep 05
Hexagon Energy Materials Limited Appoints Mr. Stephen Hall as Chief Executive Officer Hexagon Energy Materials Limited announced that Mr. Stephen Hall has been appointed as Chief Executive Officer of the Company with effect from 1 September 2023. Mr. Hall is an experienced executive with over 30 years of experience in the energy sector across the full value chain and asset lifecycle. Stephen has been assisting the Company for several months with the WAH2 Project and has demonstrated his value in advancing engagement with gas suppliers, off- takers as well as external technical advisors. Securing Stephen for this role is a significant step in building Hexagon's management and executive team and capability to deliver the WAH2 Project and associated commercial agreements. The focus of the Company over the next four months is to bring the current discussions with off-takers, gas suppliers and sequestration providers to agreements. In recognition of the importance of such agreements to generating shareholder value and to align his interests with those of shareholders, Mr. Hall proposed that a one-month notice period should apply to the first four months of his contract. Additionally, Mr. Hall's long-term incentives will be linked to the successful delivery of project milestones and Hexagon's share price performance. The board has already seen the significant progress that Mr. Hall has made in progressing the key partnership negotiations and his past experience and relationships have provided a significant factor in turning the WAH2 project into a reality. Mr. Hall has been supporting Hexagon since November 2022 and, since then, has led the progress made on the WAH2 Project. He has been instrumental in guiding successful delivery of the Pre- Feasibility Study, establishing constructive relationships with stakeholders and progressing commercial discussions with various counterparties and potential strategic partners. The timing of Mr. Hall's appointment as Chief Executive Officer reflects Hexagon's confidence in the progress being made on the WAH2 Project as the team advances discussions with third party potential partners. Prior to joining Hexagon Mr. Hall spent 28 years with Woodside Energy before founding an independent business advisory firm to provide strategic and commercial support to the energy sector. Mr. Hall's roles at Woodside include Vice President Strategy Power & New Markets, Vice President Strategic Planning, and Vice President North West Shelf Development. Through these roles he has developed broad leadership experience and expertise in setting corporate strategy, new business development, commercial structuring, negotiations, project development and delivery, and stakeholder management. In his last role at Woodside, as Vice President Strategy Power & New Markets, Mr. Hall was responsible for implementing Woodside's market-led growth strategy as well establishing the capability and governance framework necessary to allow increased trading and portfolio optimisation. Announcement • Aug 11
Hexagon Energy Materials Limited Appoints Philipp Kin as A Director Hexagon Energy Materials Limited announced the appointment of Philipp Kin as a Director of the Company with effect from 11 August 2023. Philipp has a wealth of experience in the energy sector and a specific background in project financing. In addition, current director, Mr. Garry Plowright has announced that he will not stand for re-election as a director and will leave the board once he has handed off the strategic conversations that he is currently involved in. Hexagon has previously guided the market that there will be a number of changes to board and management to prepare the team for the strategic negotiations that it is undertaking with partners in the WAH2 Project. Board Change • Aug 03
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Garry Plowright was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 17
Hexagon to Commence WAH2 Preliminary Feasibility Study Hexagon Energy Materials Limited has decided to progress to a Preliminary Feasibility Study with respect to the WAH2 project. Specific areas of analysis, among others, in the PFS will include: Hydrogen production methodology; Energy carrier solution; Site location and availability of land; Project scaling and phasing of production; Gas supply; Carbon capture and storage; Production technology alternatives; and Identification of enhancements to minimise capital and operating costs. The Pre-Feasibility Study will include particular focus on various elements associated with the WAH2 project. The choice of specific hydrogen production technology drives tangible differences in plant costs, power requirements and CO2 emissions. Steam methane reforming, autothermal reforming and gas heated reforming are all under consideration. Announcement • Jan 11
Hexagon Completes WAH2 Scoping Study Hexagon completes WAH2 scoping study. Highlights: Scoping study completed in December 2022 on time and on budget. Study confirms WAH2 project concept, identifies opportunities to reduce unit costs, and provides appropriate focus for Preliminary Feasibility Study (PFS). PFS on track for completion Second Quarter 2023. Targeting FEED entry Fourth Quarter 2023 and FID Fourth Quarter 2024, subject to results of PFS. WAH2 Project Scoping Study Results: The Hexagon team completed the anticipated WAH2 low-carbon hydrogen project scoping study on time and on budget prior to year-end. The study considered the different elements required to deliver such a project and supported progression to a Preliminary Feasibility Study. Specific areas of analysis included: Hydrogen production methodology; Energy carrier solution; Site location and availability of land; Project scaling and phasing of production; Gas supply; Carbon capture and storage; Production technology alternatives; and Identification of enhancements to minimise capital and operating costs. Hydrogen production methodology: Competitive, low-carbon, low-risk hydrogen is to be delivered by using proven technology to reform natural gas feedstock, carbon capture and storage (CCS) in depleted gas reservoirs and harnessing northern Western Australia's renewable energy potential. Energy carrier: The produced hydrogen will be converted to low-carbon ammonia as the most appropriate energy carrier. This offers reduced processing and transportation costs and greater energy- efficiency than the alternatives of liquid hydrogen or liquid organic hydrogen carriers - and aligns with customers' need for ammonia. Site location: Hexagon has identified its preferred site for WAH2 and has applied to the WA Government for a long-term lease over the site. The site is in an existing Strategic Industrial Area in northern Western Australia. It is proximal to services, with established export routes and an existing infrastructure corridor. It is well- placed to access key Asian markets such as Japan and South Korea and to provide domestic supply to Australia. Project scaling and phasing of production: Development of the WAH2 project will be phased to manage risks and align with market development. Indicatively, Phase 1 will produce ~250 kT of ammonia per annum, increasing to ~800 kT per annum in Phase 2. Gas Supply: WAH2's feed-gas requirement could be met by the market. There are several potential suppliers with access to existing distribution infrastructure and Phase 1 of the project would consume only ~2% of Western Australian's forecast daily gas supply (Base Case, WA GSOO 2022). Carbon capture and storage: Several credible CO2 sequestration alternatives are being developed proximal to WAH2. Greenhouse gas assessment permits have been awarded to joint ventures operated by Santos (G-9-AP) and Woodside (G-10-AP), and the Australian Gas Infrastructure Group is investigating the potential to use its wholly owned Tubridgi asset for CO2 sequestration. Production technology: The choice of specific hydrogen production technology drives tangible differences in plant costs, power requirements and CO2 emissions. Steam methane reforming, autothermal reforming and gas heated reforming are all under consideration. Project enhancement opportunities: Opportunities have been identified to reduce unit costs and leverage economies of scale. These include: · Optimal technology choice and sizing of Phase 1 of the WAH2 project; · Potential access to multi-user infrastructure including utilities import, product export and CO2 transmission; and An optimised power solution. Next steps: The focus of the Hexagon team has now turned to completing the WAH2 PFS in Second Quarter 2023 and, in parallel: · Progressing commercial discussions regarding gas supply, utilities, CO2 sequestration and ammonia offtake; and · Securing an Option to Lease from the WA Government over Hexagon's preferred project site. Announcement • Nov 22
Hexagon Energy Materials Limited Completes First Phase of the RC Exploration Program At Its McIntosh Ni-Cu-PGE Project Hexagon Energy Materials Limited announced the first phase of the RC exploration program has been successfully completed at its McIntosh Ni-Cu-PGE Project in the East Kimberley Region of northern Western Australia. Samples from the 823m RC drilling program have been submitted for analysis with results expected in First Quarter 2023. The program focused on defined high Priority drill targets which include IP Anomaly A & B which were discovered by Hexagon via previous IP surveys over the Greater Mellon Patch area conducted in 2021, also Anomaly 22 and Anomaly 9 which were identified in a geophysical review of the project undertaken by the company. With disseminated sulphide visually identified in 2 of the 4 targets, down hole Electro Magnetic work will be carried out at Anomaly 22 & 9 locations shortly. Drill Program: The completed drill program tested the following 4 high-priority geophysical anomalies: Two untested Airborne Electro Magnetic (AEM) anomalies Anomaly 22 and Anomaly 9; Two untested ground Induced Polarisation (IP) anomalies A and B. EM Anomaly 9: Anomaly 9 lies within the Wild Dog Creek Gabbro (WDCG) intrusion and is located near an inliers of older Panton intrusive rocks, with a coincidental historic Ni-Cu soil anomaly (see HXG ASX Announcement 28 June 2021). Hole 22HXRC001 was drilled to target this anomaly, geological observation identifying a mafic intrusive package (WDCG). The visual log also identified fine grained disseminated sulphides including suspected Bornite (<1%) observed proximal to the interpreted EM conductor from 66m to 103m. Assays are currently pending, and a downhole EM survey planned. IP Anomalies A & B: The Melon Patch intrusion was identified as a priority Ni-Cu-PGE target by Hexagon in 2021 (see HXG ASX Announcement 28 June 2021). A Reconnaissance dipole-dipole IP/resistivity surveying of the northern margin of the Melon Patch mafic-ultramafic intrusive complex was completed in 2021 (see HXG ASX announcement 11 November 2021). The survey was designed to cover an area of strong Ni-Cu anomalism in soil geochemical sampling and to extend into the country rocks a sufficient distance to cover potential feeder dykes, and structurally remobilised mineralisation. Anomaly A was a chargeable anomaly defined in this survey. Geological observation from hole 23HXRC004 has noted fine grain disseminated sulphides (<1%) from 44m to EOH within mafic intrusive and assays are currently pending. Hole 26HXRC003 which targeted Anomaly B has been interpreted to be likely associated with the graphite mineralisation. Geological observation from the drilling identified interbedded graphite from 208m to 231m, which is likely producing the identified IP response. EM Anomaly 22: Anomaly 22 lies within the Melon Patch North prospect, the geological mapping undertaken by HXG now has this anomaly situated within a remnant of the potential Panton Sill type intrusive, bound to the north by Tickalara Metamorphics and to the east by the Sally Down Suite (see HXG ASX Announcement 28 June 2021). Hexagon has secured funding through the Western Australian Government's Exploration Incentive Scheme to co-fund drilling to test the target. Hole 22HXRC003 has identified graphite mineralisation from 75m to 88m which coincides and is likely producing the interpreted EM response. Next Steps: Downhole EM surveys are planned to be completed at Anomaly 9 and 22 in the coming weeks, subject to availability and the onset of the wet season, to confirm the current EM interpretation. Regrettably plans to test the Panton Peridotite Target Area, Panton Gabbro Target Area and the Wild Dog Creek (WDC) Gabbro 1 Target Area have had to be postponed due to increasing adverse weather conditions in the Kimberley. All approvals are in place, and drilling will recommence at the conclusion of the current wet season. Assays are pending for all drilling with results expected in First Quarter 2023. The 1000 UFF soil samples completed over the Togo & Mini M prospect have been delivered to the lab with assay results expected in early 2023, with follow up work expected in 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Garry Plowright was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 07
Hexagon Energy Materials Limited Announces Drilling High Priority Targets to Start At Mcintosh Project Hexagon Energy Materials Ltd. announced important upcoming mineral exploration at its McIntosh Ni-Cu-PGE Project in the East Kimberley Region of northern Western Australia. The current drill program has been delayed from the proposed September commencement date due to a protracted process in securing final heritage approvals. The Priority 1 drill targets which include IP Anomaly A & B, which were discovered by Hexagon in an IP survey over the Greater Mellon Patch area conducted in 2021, along with Anomaly 22 and Anomaly 9 which were highlighted in a geophysical review over the project. The identified drill targets are prospective for metallic disseminated to massive sulphide Ni-Cu-Co-PGE mineralisation. (The current drill program will be testing the following high priority geophysical anomalies · Two untested airborne electromagnetic (AEM) anomalies Anomaly 22 and Anomaly 9, and · Two untested ground Induced Polarisation (IP) anomalies A and B. Hexagon personnel and drilling contractor are currently mobilising to site with drill pad preparation being undertaken over the weekend, with drilling due to commence early next week. The Melon Patch intrusion was identified as a priority Ni-Cu-PGE target by Hexagon in 2021 . A Reconnaissance dipole-dipole IP/resistivity surveying of the northern margin of the Melon Patch mafic-ultramafic (. The survey was designed to cover an area of strong Ni-Cu anomalism in soil geochemical sampling and to extend into the country rocks a sufficient distance to cover potential feeder dykes, structurally remobilised mineralization, etc. A chargeability anomaly (A) was defined, close to a Ni-Cu stream sediment geochemical anomaly (anomaly A), with a second anomaly (B) thought likely to be associated with graphite, owing to its high conductivity. Two in-fill survey lines of dipole-dipole IP/resistivity IP were read to the north of the existing line in August 2022. This follow-up was intended to provide a more accurate definition of the 3D geometry of the chargeable sources and their size than that provided by the reconnaissance lines. The results of the infill IP survey now indicated that two previously separate IP Anomalies (A & B) may be part of the same geological body, with the conductivity varying across the body, which will be tested in the current drill program. During the historical geophysical survey data review, two previously discounted AEM anomalies were identified which Hexagon will now test in the current program. Announcement • Sep 23
Hexagon Energy Materials Limited, Annual General Meeting, Nov 10, 2022 Hexagon Energy Materials Limited, Annual General Meeting, Nov 10, 2022. Agenda: To consider election of Director. Announcement • Jul 05
Hexagon Energy Materials Limited Announces Progress Update - Mcintosh & Wah2 Hydrogen Projects Hexagon Energy Materials Ltd. announced progress updates on its key projects Preparatory work, approvals and contracting of drill equipment and operators is finalized as the Company prepares to commence drilling operations at McIntosh in the coming weeks. The fully funded drill program to quantify the Nickel /Platinum Group Element mineralization at McIntosh is the culmination of two years of analysis of historical data and new groundwork that has been undertaken over the tenements. Initial results from the drill program are expected in Fourth Quarter with additional information through to early First Quarter 2023. Meanwhile, the initiative for graphite is moving ahead following Hexagon's agreement with Green Critical Minerals (GCM). More details on both of these works are detailed below. Considerable progress has been made on Hexagon's WAH2 Hydrogen project. The management team proceeds with a core focus on four key elements of the project: Securing Gas supply for blue hydrogen feedstock. Securing land for site location in the Company's preferred NW Coast of Western Australia. Finalizing agreements around access to CO2 sequestration capacity. Strategic conversations with offshore customers /funding partners. In the last month progress has been made on all these fronts as detailed in the following Hydrogen section. In June, geologists had been on site at Hexagon's McIntosh Project tenements to undertake final preparations and recognizance work for the upcoming fully funded drill program. The drill program will focus on Melon Patch (Paton Gabbro 1, Panton Peridotite and WDC Gabbro 1 prospects), along with testing a number of historic geophysical targets which have been identified during the comprehensive analysis that has taken place over the past two years. All necessary approvals have been obtained and a heritage survey will be undertaken in the coming weeks. The upcoming program comprised of approximately 6,500 meters, will be drilled with the locations of proposed drilling holes. Downhole geophysics will be completed for each hole. Hexagon's McIntosh project is highly prospective due to the amount of historical work that has now beencollated showing continuity with surrounding formations. McIntosh lies 25 kilometers directly north of Future Metals NL's Panton PGE Project, one of Australia's largest and highest-grade PGE Projects, shown McIntosh also lies around 15 kilometers along strike from Panoramic Resources Limited's (PAN) world-class Savannah Ni-Cu-Co Mine and surrounds PANs Copernicus deposit.: 1. Panton Peridotite Targets Identified anomalies to be drilled include 3.63g/t 3PGE, 0.35% Cu, 0.18% Ni and 3.01 g/t 3PGE, 0.27% sted southwestern portion of this high-grade surface soil geochemistry anomaly will also be drilled. The north-western part of the anomaly has significant historical drill intercepts of 1m @ 1.00g/t 3PGE in hole SMP002 and 20m @ 0.75g/t 3 PGE in hole SMP006 . This 1.1km long, 350m wide PGE soil anomaly recorded results up to 3 g/t 3PGE, 0.24% Ni and 1.23g/t 3PGE, 0.22% Ni . This 1.25km long, 320m wide PGE soil anomaly recorded results up to 0.12% Cu, 0.10% Ni, 150ppb Au and 0.10% Cu, 0.14% Ni. Announcement • May 09
Hexagon Energy Materials Limited Provides Update on Hexagon's Ni-Cu-Pge Drill Program At Mcintosh Hexagon Energy Materials Limited announced details of the Company's 2022 field season exploration program at its McIntosh Ni-Cu-PGE Project, located within a highly prospective Ni-Cu-PGE region in the Kimberley Region of northern Western Australia. Hexagon's tenements lie 25 kilometres directly north of Future Metals NL's Panton PGE Project, one of Australia's largest and highest-grade PGE Projects. McIntosh also lies around 15 kilometres along strike from Panoramic Resources Limited's (PAN) world-class Savannah Ni-Cu-Co Mine and surrounds PAN's Copernicus deposit. A reconnaissance Reverse Circulation (RC) drill program of the Company's three Priority 1 Ni-Cu-PGE targets, following up on strong soil geochemical anomalies recorded for samples collected during the 2021 field season, will take place during the 2022 field season. Soil sampling results of 3.63 g/t 3PGE (Pd+Pt+Au) and up to 1.24 g/t Au were recorded. In addition, a number of conductive bodies that are considered prospective for Panton/Savannah style Ni-Cu-Co-PGE metallic mineral deposits, will be drilled. Warehoused historical Hexagon drill core from within the Wahoo graphite deposit, encountered at the end of hole THGDD178 logged at the time of drilling as massive sulphide has been retrieved and resampled and analysed for Ni-Cu-PGE. The results included a number of geochemically anomalous signatures analogous with Volcanic-hosted Massive Sulphide (VHMS) mineralisation which has previously being discounted within the Tickalara Metamorphics. MCINTOSH PROJECT 2022 DRILLING PROGRAM DETAILS. A. Exploration Targets within the greater Melon Patch Prospect area Following up on strong soil geochemical anomalies recorded for samples collected during the 2021 field season, three Priority 1 Ni-Cu-PGE targets will take place during the 2022 field season. Namely; 1. Panton Peridotite Targets Anomalies to be followed up include 3.63g/t 3PGE, 0.35% Cu, 0.18% Ni and 3.01 g/t 3PGE, 0.27% Ni. The untested southwestern portion of this high-grade surface soil geochemistry anomaly will be drilled. The north-western part of the anomaly has significant historical drill intercepts of 1m @ 1.00g/t 3PGE in hole SMP002 and 20m @ 0.75g/t 3 PGE in hole SMP006. This 1.1km long, 350m wide PGE soil anomaly recorded results up to 3 g/t 3PGE, 0.24% Ni and 1.23g/t 3PGE, 0.22% Ni. 3. Wild Dog Creek (WDC) Gabbro 1 Target This 1.25km long, 320m wide PGE soil anomaly recorded results up to 0.12% Cu, 0.10% Ni, 150ppb Au and 0.10% Cu, 0.14% Ni. The drilling program will consist of approximately 50 RC holes to depths of between 100 and 150 metres from surface comprising a total meterage of around 6,500 metres. The locations of the drill holes planned are shown in Figure 5. Downhole geophysics will be completed for each hole. All necessary regulatory requirements, including heritage approvals, have been applied for and are being progressed. In addition, the drill rig and field staff have been secured. Exploration drilling co-funding has been secured by Hexagon as part of Round 24 of the Western Australian Government Exploration Incentive Scheme (EIS) to support this drill program. B. Drill testing of geophysical anomalies In addition to the drilling of the greater Melon Patch targets confirmed through the 2021 soil sampling program, a number of conductive bodies that are considered prospective for Panton/Savannah style Ni-Cu-Co-PGE metallic mineral deposits will be drilled. Namely; An IP anomaly (Anomaly A) interpreted as a potential (Panton Sill type) intrusion target, which is yet to be properly tested at Melon Patch. Two untested Airborne Electromagnetic (AEM) anomalies (Anomaly 22 and Anomaly 9 at Hyena and Melon Patch North respectively) identified in the Company's recent review of historic geophysical data. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Garry Plowright was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 01
Hexagon Energy Materials Limited Completes Pedirka Hydrogen Project Pre-Feasibility Study Hexagon Energy Materials Limited has completed the Pedirka clean Hydrogen Project (Pedirka) PFS. This announcement presents the results of the PFS and outlines the Company's clean Hydrogen plans moving forward. Hexagon's clean Hydrogen strategic objectives are: Value creation for shareholders through participation in the large, global, emerging clean Hydrogen market by developing projects that commercially deliver at scale. Hexagon is focused on creating a basis for future growth matched to emerging markets, on the following terms: Lowest possible production risk. By using technically proven-at-scale technologies which have a track record of being successfully (i.e., on time, budget and quality) constructed, commissioned and operated long-term at design capacity. Lowest possible cost (in Total life of project CapEx and OpEx terms). Most timely/efficient route to production. These objectives underpinned the expanded PFS scope and review of other Northern Australian locations. Western Australia (WA) was specifically identified as a more attractive project opportunity location, based on the following favourable factors: More advanced and cost-effective CCS toll treatment services, Low-cost natural gas feedstock, available in the timeframe sought by Hexagon, Low-cost renewable energy, Low-cost process water, and Export/Port facility access. The Next Steps for Hexagon in terms of clean Hydrogen: Hexagon has commenced technical and commercial work including financial modelling, on a WA clean Hydrogen project (WAH2). This project significantly leverages the work done on the PFS based on Pedirka and the insights gained. In relation to CCS, the PFS confirmed the need for Hexagon to leverage established infrastructure and low-cost renewable energy to a great extent possible. The PFS confirmed natural gas was Hexagon's preferred hydrogen feedstock. This requires Hexagon to be in locations where low-cost access to natural gas over the long term is achievable. The PFS also clearly demonstrated that, for Hexagon to deliver its clean Hydrogen strategy, coastal sites would be far more attractive and efficient. In accessing CO2 compression processes, accessing renewable energy and sourcing well established large scale offshore gas field feedstock would be more attractive and efficient than sourcing coal from Pedirka as a feedstock. Positive initial progress has already been made on the WAH2 Project leveraging the work and insights gained from the PFS. Around 30% of insights, engineering and modelling have been carried over to the going forward strategy. Specific progress on WAH2 to date: Plant location - An application for over 80 hectares of land available for lease within the Ashburton North Strategic Industrial Area (SIA), which is owned by the WA Government, was lodged 18 January 2022. This is to be expanded to include the Burrup and Maitland SIAs based on discussions held with Development WA on 14 February 2022. Hexagon will work constructively with all stakeholders to secure an optimal site for WAH2. CCS/Decarbonisation - Negotiations over CCS toll treatment services with third parties have progressed. Firm commercial terms for CCS toll service delivery and the process by which Hexagon can secure an option to access these services are expected next week. Natural Gas supply - Negotiations around supply are underway through a gas brokerage agreement signed on 18 February 2022. This agreement has been struck to secure, in a timely fashion, the requisite gas feedstock for the contemplated Stage 1 of WAH2 project, producing 0.25 MTPA of blue Ammonia for export. Stage 2 is expected to expand the production of WAH2 to 0.8 MTPA. Offers for around 70% of Hexagon's WAH2 project Stage 1 gas requirements have already been received. Renewable Energy supply - Discussions to progress the Memorandum of Understanding (MoU) with FRV Australia, announced on 24 January 2022, have commenced in order to reach a specific WAH2 related development agreement. Hexagon /FRV Australia collaborations in the NT are also expected to continue as part of Hexagon's longer-term NT clean Hydrogen plans. Blue Ammonia Offtake/Sales - Discussions with blue Ammonia customers and/or trading houses have commenced. Strategic partner/investor discussions are well underway with multiple parties. Announcement • Feb 02
Hexagon Energy Materials Ltd Announces Progress Update of McIntosh Ni-Cu-PGE Project Hexagon Energy Materials Ltd. (‘Hexagon’ or ‘the Company’) announced that further interrogation of historic data completed by Hexagon has highlighted a 2.2 km strike of Panton Suite within the Melon Patch prospect, that has known PGE mineralisation from historic drilling and costeaning. An underexplored area at the Melon Patch prospect, with drill intersected PGE mineralisation of 20 m @ 0.75 g/t 3PGE as well as other intersections situated within mapped Panton Suite, have been identified. This has prompted a review, resampling and analysis for Ni-Cu-PGEs of all drill core held by Hexagon, warehoused following past Graphite drill programs, where sulphide mineralisation was intersected and announced. In addition, the final laboratory results from the 2021 soil sampling program (5,200 total samples) have now been received with Dr. Dennis Arne, Director of Telemark Geosciences, an experienced Geochemist, now progressing a comprehensive review expected to be completed in February 2022. The results of this review will further aid in the refinement of Hexagon's McIntosh Project 2022 field season work plans including a drilling program. PGE drill intersections at Melon Patch. Melon Patch was identified as a priority Ni-Cu-PGE prospect as part of the historic geochemical review undertaken by Hexagon over the McIntosh Project area. The area of known PGE mineralisation was first identified by Anglo American in the 1970s prior to being drill tested with costeans and limited drilling. The drilling completed to date consisted of 9 holes drilled in 4 sections at approximately 500m line spacing, the drilling defined two semi continuous peridotite (Panton Suite) hosted chromitite seams with 3PGE (Pt+Pd+Au) grades. The results included SMP002: 1m @ 1g/t 3PGE and SMP006: 20m @ 0.75g/t 3 PGE. Hexagon intends to revisit this area during the 2022 field season to investigate this mineralisation and further understand its significance. Hexagon's AGM Presentation of 27 November 2015 noted potential for Nickel and Copper mineralisation as Sulphide mineralisation had been logged at the end of drill hole THGDD178 below the current Wahoo graphite deposit. The mineralised intersection has yet to be assayed due to the Graphite focused drill programs undertaken by Hexagon at the time. A review of all past McIntosh Graphite Project drill core being held in Hexagon's Perth warehouse has also commenced as part of the recent Ni-Cu-PGE interrogations by the McIntosh exploration team. The aim is to recover, resample and analyse drill core of interest including T4GDD178 for Ni-Cu-PGEs. Hexagon's strategy, as presented at Hexagon's 20 January 2022 Annual General Meeting. The initiatives being progressed by the Hexagon team across the Company's Historic, Future Energy Materials, and Future Energy asset base/project portfolio, where Hexagon's overarching goal is to secure and leverage technical and commercial alliances, by commodity, whilst maintaining a core focus on Future Energy Materials and Future Energy project developments in house through Ni-Cu-PGEs at McIntosh and Clean Hydrogen in the NT and WA. McIntosh's Graphite potential is being progressed through a potential Farm-in agreement, with negotiations well underway. This commodity focused technical and commercial alliance approach has the potential to bring a dedicated project development team, focus, and additional in-ground investment to McIntosh. Particular focus is being placed on co-ordination of all on-ground activities in agreement negotiations. Past McIntosh drill core being held in Hexagon's warehouse will be revisited, resampled and analysed for Ni-Cu-PGE, as appropriate. Final Ni-Cu-PGE interpretation of the 5,200 soil samples collected during the 2021 field season will be completed this month by Dr. Dennis Arne, Director of Telemark Geosciences. The results will allow the Hexagon team to further refine and finalise its McIntosh Project 2022 field season work plans including the drilling program. Hexagon has now submitted the final laboratory analytical results from its McIntosh soil sampling program to the Australian national science agency CSIRO as a part of the research agreement signed in June 2021, with results from the CSIRO work not due until third quarter of 2022. All statutory approvals applications have now been submitted in relation to the 2022 McIntosh field program, with outcomes expected in first quarter of 2022. The Company continues to prepare for this work with further announcements in relation to funding expected shortly. Negotiations with third parties over Graphite mineral rights at McIntosh will be further progressed. Announcement • Dec 16
Hexagon Energy Materials Limited Collects 5,200 Soil Samples from Across the Mcintosh Project During the 2021 Field Season Hexagon Energy Materials Limited collected 5,200 soil samples from across the McIntosh Project during the 2021 field season. This program was developed based on the interpretation of historic geochemical data and review of WAMEX historical reports dating from 1967 to 2018. This information provided the basis for a systematic regional structural reinterpretation of the McIntosh Project targeting Nickel, Copper and PGEs. Experienced structural geologist Dr. Mark Rieuwers (SRK Consulting) was involved in this reinterpretation Final results from the 2021 soil sampling program were expected to be received in First Quarter 2021/22, to feed into the exploration program planning for the 2022 field season. Hexagon has been advised by the laboratory that there are delays and that a full set of results will not be received until mid-January 2022. Hexagon has been informed that the laboratory delays are being experienced, are across the board. Dr. Dennis Arne, Director of Telemark Geosciences, an experienced Geochemist, has been engaged by Hexagon to review all of the 2021 McIntosh Project soil sample results to further aid in the refinement of Hexagon's McIntosh Project 2022 field season work plans. Executive Departure • Dec 03
Company Secretary Rowan St. Caren has left the company On the 1st of December, Rowan St. Caren's tenure as Company Secretary ended after 4.2 years in the role. We don't have any record of a personal shareholding under Rowan St.'s name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Announcement • Aug 20
Hexagon Energy Materials Ltd Announces Results Confirm Ni-Cu-PGM Prospectivity at McIntosh Project Hexagon Energy Materials Ltd. announced that it has received the initial batch of results from surface sampling which was completed during a regional structural and geological mapping program. The program focused on several high priority Ni-Cu targets at its McIntosh Project, including the Melon Patch, Melon Patch North, Mabel Hill, Jackal and Hyena Prospects across the McIntosh Project, located in the Kimberley region of WA. These initial results confirm conclusions drawn from historic exploration results and the findings of the geochemical review being that the McIntosh project has the potential to host Ni-Cu-PGM mineralisation. The company has now commenced a major soil sampling program in conjunction with CSIRO Ultrafine+TM at the Melon Patch, Melon Patch North & Mabel Hill prospects with the aim of testing the ultramafic (Panton Sill type) intrusion at each of the prospects which has not yet been fully defined or tested. A 27-line kilometre 3D Inverse Polarisation (3D IP) geophysical survey is currently being undertaken over a strike of five kilometres along the north-eastern section of the Melon Patch Prospect, with the aim of detecting the presence of disseminated sulphide mineralisation. Geological mapping: the company engaged highly experienced structural geologist Dr. Mark Rieuwers (SRK Consulting) to complete detailed structural and geological mapping over the McIntosh project area. The focus of this round of work is on ground truthing targets and areas of interest highlighted in the historic and geochemical review, including Melon Patch, Melon Patch North and Mabel Hill Prospects. These 159 initial assays results are from a total of 290 rock chip samples taken during the mapping program, these samples were collected to both characterise the underlying geology and confirm historic results, with a number of samples identified with remnant sulphides present including; MCI094: 4.58% Cu, 25.11g/t Pt-Pd-Au, 0.32% Ni, 6.12g/t Ag and MCI108: 6.24% Cu, 0.21g/t Pt-Pd-Au, 0.41% Ni, 1.26g/t Ag (Table 1). These were sampled from a known Cupriferous gossan at the Melon Patch North prospect. Soil sampling program: the company has commenced a soil sampling program, designed as a 100m x 100m offset grid for approximately 3800 samples over the Melon Patch, Melon Patch North and Mabel Hill prospects. At each of the prospects the sampling has been designed to test areas of Panton Sill Intrusive and/or the Wild Dog Creek Gabbro/Panton Sill equivalents and their related contacts with the Tickalara Metamorphics. The program is currently 50% complete, with first samples received in the Perth laboratory. Results are anticipated from fourth quarter of 2021. For the current program the company has signed a research agreement with Australian national science agency CSIRO to participate in its UltraFine soil's geochemistry program. The program uses machine learning combined with the UltraFine+TM workflow which has been developed to separate the <2 µm ultrafine soil fractions for multi-element analysis along with other, commonly not used, physico-chemical parameters including spectral mineralogy, pH, EC and particle size distribution. This new method shows more reproducible, reliable results, with 100-250% increased concentrations of Au, Cu and Zn than from standard <250 µm fractions, and removal of the nugget effect. The company believes this new approach to assaying combined with machine learning will add value to the work current being undertaken at the McIntosh Project. Geophysics: a 27-line kilometre 3D Inverse Polarisation (3D IP) geophysical survey is currently being undertaken at the Melon Path Prospect. The 3D IP survey is over a strike of five kilometres across the north-eastern portion of the mapped Panton Sill intrusion and its contact with the Tickalara Metamorphic. The aim of the survey is to detect the presence of disseminated sulphide mineralisation, that can be drill tested. Next step: the completion of the soil sampling program and 3D IP will bring an end to the 2021 field season at McIntosh Project, with results anticipated in the fourth quarter of 2021. These will feed into the drill program planning for the 2022 field season and expand on the body of work undertaken this year. Announcement • May 19
Hexagon Energy Materials Limited Provides Update on Pedirka Blue Hydrogen Project Hexagon Energy Materials Limited provided Pedirka Blue Hydrogen Project update. On 30 April 2021 Hexagon commenced the Pre-Feasibility Study "PFS" in partnership with Genesis, a subsidiary of Technip Energies. The scope of the PFS covers all aspects of the project business case from coal feedstock extraction through transport of product to port. The PFS decision-making process includes consideration of a number of alternatives including: choice of end product (hydrogen or ammonia); detailed plant location; and transportation alternatives for feedstock and product (rail or pipeline). Hexagon and Genesis have assembled a top tier team with expertise covering all aspects of the business case. The backgrounds and roles of each key team member will be announced in a forthcoming update. Drilling down further, a number of targeted studies have been prioritised including: Construction strategies; Power for the facility (including renewable energy options); Water supply; Waste and bi-product treatment and management; Finalisation of technology for each process of gasification, air separation and ammonia synthesis; CO2 Injection locations; CO2 Transportation and Hydrogen /Ammonia transportation. The first study to be completed will be the Water Supply Study, outcomes from this study will influence gasification technology and have a bearing on exact location selection for the hydrogen/ammonia plant. Early discussions with the NT Government have been extremely useful and the team is now analysing and comparing a number of alternatives to support water supply for different locations. With respect to gasification technology selection, there are two common methods for gasification, "wet" and "dry". The availability of water at sufficient volume will influence this selection with both technologies suitable for Pedirka coal, based upon initial investigations. During the first two weeks of May, the team held numerous meetings with various NT Government departments to: brief them on project, understand the approvals pathway and requirements, confirm drilling approval requirements, and progress licensing/permitting and lead departments for each component of the project. One outcome of these meetings was that Hexagon will lodge a proponent initiated environmental impact assessment (EIA) and commence the lodgement of the Mineral Licence Application. These items have been identified as the longest lead items for NT Government approval, however by pursuing the proponent-initiated EIA, the company believe approvals are attainable within two years. To support the development of the proponent initiated EIA, the company will seek to engage a reputable EIA consulting organisation with applicable experience in the Northern Territory during the next month to commence the EIA development. During the week commencing the 24 May 2021, several members of the team will travel to Alice Springs to meet with the traditional landowners, the Central Land Council and local council members and will conduct a site visit to confirm the drilling campaign with the land holders at Andado Station and drilling company (Silver City Drilling). It is intended that drilling will commence in early third quarter of 2021. With completion of the PFS proposed for December 2021, the targeted side studies will expediate the options selections, which will form the basis of the Detailed Feasibility Study (DFS) expected to commence in early 2022. Announcement • May 03
Hexagon Energy Materials Limited announced that it expects to receive AUD 6.2 million in funding Hexagon Energy Materials Limited (ASX:HXG) announced a private placement of 56,363,636 common shares at an issue price of AUD 0.11 per share for gross proceeds of AUD 6,200,000 on May 3, 2021. The transaction will include participation from institutional and sophisticated investors. The transaction is expected to close on May 5, 2021. Announcement • Dec 21
Hexagon Energy Materials Limited (ASX:HXG) made an offer to acquire Ebony Energy Limited for AUD 4.6 million. Hexagon Energy Materials Limited (ASX:HXG) made an offer to acquire Ebony Energy Limited for AUD 4.6 million on December 21, 2020. The takeover offer involves Hexagon issuing 1 Hexagon share for every 1.32 Ebony Energy share. Hexagon will issue 0.8 million shares as consideration. Following completion of the offer and subsequent exchanges with Ebony option holders and convertible note creditors, Ebony Energy investors and those creditors will ultimately hold 23.24% of the merged entity share capital base. As part of the transaction Hexagon’s management team will be expanded by the appointment of Adam Bacon, currently Managing Director of Ebony, who will join Hexagon’s Chief Commercial Officer, Lianne Grove, to undertake executive management duties and deliver the key milestones for the Pedirka Hydrogen Project. Chairman, Charles Whitfield will continue to consult to Hexagon.
The transaction is subject to approval by the shareholders of Hexagon, regulatory approval and Hexagon has a relevant interest in at least 50.1% of Ebony shares then on issue. The meeting of the shareholders of Hexagon is scheduled in early February 2021. The Board of Ebony Energy will recommend the transaction subject to no superior proposal being announced. The transaction is expected to close in late February 2021. Announcement • Dec 01
Hexagon Energy Materials Limited Announces Board and Company Secretarial Changes The Board of Australian energy materials company Hexagon Energy Materials Limited announced that Managing Director, Mr. Mike Rosenstreich has tendered his resignation and steps down from the
position effective 1 December 2020. Mike Rosenstreich was appointed as Hexagon's Managing Director and CEO on 17 March 2017 and has overseen development of the Company's projects and assets since that time. As noted in the Chairman's address at the recent Annual General Meeting, Mike and the Company had agreed a path for him to step away from the Company to pursue other opportunities. Mr. Rosenstreich will resign as a director effective 1 December 2020 and has agreed to remain as an executive through a transitional process to 31 December 2020. Mr. Justyn Stedwell will join the Board as a non-executive director, effective 1 December 2020, and as joint Company Secretary with a view to assuming the full Company Secretary role in 2021. Announcement • Nov 11
Hexagon Energy Materials Limited Receives Funds for 2021 Exploration Program Hexagon Energy Materials Limited announced that it has received funding support to drill its Bent Ridge gold prospect, part of the Halls Creek Project. Hexagon was successful in its application for co-funding through the Western Australian State Government's Exploration Incentive Scheme which is assessed on a project by project basis for drill testing greenfield prospects such as Bent Ridge, Hexagon recently 1 reported new gold in soil anomalies at Bent Ridge and Golden Crown South. Hexagon is planning a 1,500 metre drill program to test the newly defined gold in soil anomalies. Two target zones of 0.8 km and 2.4 km in strike-length were delineated within an overall 3.5km trend of gold anomalies, with anomalous pathfinder elements such as arsenic and base metal results confirming the significance of the results. The prospectivity for gold mineralisation is further enhanced by a historical geophysical survey over only 25% of the newly defined soil anomalies which comprised a strong conductive and chargeable `Induced Polarisation' response associated with a mapped siliceous gossanous ridge. The mapped rocks and the geophysical response are interpreted to be indicative of the presence of sulphide minerals, commonly associated with gold mineralisation. The Company is planning a larger drilling campaign over the Halls Creek Project which will include the Golden Crown South Prospect and various high-grade gold targets along the Townsite-Lady Helen trend. This work is planned to commence at the start of the 2021 field season. Announcement • Oct 08
Hexagon Energy Materials Limited Signs Confidentiality Agreement with Ebony Energy Limited Hexagon Energy Materials Limited has signed a confidentiality agreement with Ebony Energy Limited ("Ebony Energy") to permit Hexagon to conduct due diligence on Ebony Energy's Pedirka Hydrogen project in the Northern Territory. This is planned to be a zero-emission blue hydrogen project targeting the domestic and international markets. Subject to the outcome of company's due diligence, the company intends to work through with Ebony Energy on the form, structure and terms of a transaction. Announcement • Sep 26
Hexagon Defines Significant Gold Anomalies in New Highly Prospective Areas At Halls Creek Project Hexagon Energy Materials Limited announced that it has defined significant new gold in soil anomalies at two of the three prospects soil sampled in July 2020. Assays for the 3rd prospect, Calibri are pending. Gold in soil anomalies were defined over a length of 1.4 km at the Golden Crown South and 3.0 km for the prospects. The recent airborne geophysics and detailed mapping programmes have identified these targets as being prospective for gold mineralisation which has now been confirmed by the soil sampling and mapping programmes. The Halls Creek region is known for high-grade gold deposits such as those currently being mined by Pantoro at the Nicholson's Find Gold Mine. Additionally, the historical Butchers Creek Gold Mine located less than one kilometre to the west of Hexagon's tenements and new Golden Crown South prospects, is currently being drilled by Meteoric Resources. Hexagon generated this target which had virtually no historical exploration, and this is the first time a gold target zone, extending over 1.4 km, has been defined by geochemical sampling. Geological mapping indicates prospective fault structures for hosting gold mineralisation, potentially underpinning the surface gold anomalism. Notwithstanding the previously unexplored nature of this prospect, gold targets, including historical mines, are currently being drill tested in similarly orientated structures to the west and north of Hexagon's ground, highlighting the potential for an emerging new gold region. Historical work has identified a 3.5 km strike extent of soil anomalism of common `pathfinder elements' for gold mineralisation such as coincident arsenic and base metal anomalies. Hexagon's survey is the first to include assays for gold with the new results defining two target zones of 0.8 km and 2.4 km in strike-length within an overall 3.5km trend of gold anomalies, with updated arsenic and base metal results confirming the historical results. The prospectivity for gold mineralisation is further enhanced by a historical geophysical survey over a modest 25% of the newly defined soil anomalies which comprised a strong conductive and chargeable `Induced Polarisation' response associated with a mapped siliceous gossanous ridge. The mapped rocks and the geophysical response are interpreted to be related to the presence of sulphide minerals, commonly associated with gold mineralisation. Several of these anomalies are `open-ended' and additional sampling is required to determine the extents as well as to infill the existing wide spaced sample intervals. Western Australia is currently experiencing an exploration boom with Programme of Work (PoW) applications up 63% to a 5-year high, and whilst this is positive for the industry it has created significant backlogs with assays and severely constrained the availability of drill rigs, assay services and labour. All of which is exacerbated by Western Australia's interstate travel restrictions. The Company has received approval for 4 PoW applications including for Bent Ridge and Golden Crown South drill programmes. Timing of drilling is currently dependent on availability of drill rigs and unfortunately a previously `secured' rig is now at risk of being potentially further delayed, precluding Hexagon from drilling due to the impending wet season. This does create the opportunity to continue advancing the project, Hexagon is planning on completing further surface sampling work to scope out the extent and better define new anomalies ahead of an initial drill program. This delay could also mean that drilling expenditure for the Bent Ridge prospect could be supported by funding from the State Government's Exploration Incentive Scheme which Hexagon has applied for. Under these circumstances, the Company would receive the delayed soil results from the Calibri prospect, complete the follow-up sampling and then undertake a larger, better defined drill program at the end of the wet season in April 2021. This is still to be finalised - all being subject to rig availability and target definition work. Hexagon is looking forward to the assay results for the Calibri prospect which are delayed, and is also planning additional work on the Target 3, Granite, and Lady Helen prospects. Calibri is another new, Hexagon generated target. Recently completed geological mapping and has defined complex highly strained and schistose stratigraphy, particularly within the eastern portion of the prospect. Areas of interest are dominated by mafic volcanics with fine grained meta-sedimentary interbeds, preserved domes of felsic volcanics and evidence of remnant sulphides. Reported Earnings • Sep 24
Full year earnings released - AU$0.008 loss per share Over the last 12 months the company has reported total losses of AU$2.32m, with losses widening by 13% from the prior year. Total revenue was AU$517.3k over the last 12 months, up by AU$462.7k from the prior year. 
