Roskill view: Hexagon Resources (previously Lamboo Resources) is developing the McIntosh natural flake graphite project, located in East Kimberley, Western Australia.
In January 2014, it released an indicated and inferred JORC resource for McIntosh totalling 7.14Mt at 4.73% TGC (equivalent to 0.34Mt of contained graphite) at a 2% cut-off. It has since carried out metallurgical testing and produced 98% C at an 89% recovery. It is targeting production of spherical graphite for use in lithium-ion batteries.
In August 2014, the company signed an off-take agreement with China Railway Resources to supply 50ktpy of flake graphite concentrate, grading at least 90% C. It agreed an initial supply of graphite (with an option to supply spherical or processed flake graphite for use in lithium-ion batteries) until December 2018.
In 2016, it released a prefeasibility study; it plans an open-pit mine with up to 2.4Mtpy of crude production.
Hexagon Resources was formerly reviewing several graphite projects in South Korea through its subsidiary Opirus Minerals; it sold Opirus Minerals to another Australian company, Battery Mineral Resources, in January 2017.
A new announcement in mid-2017 estimated development capex at McIntosh at more than US$$100M.
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