Hexagon Resources Ltd. said Dec. 12 that it agreed to sell 2 million shares in unlisted Australian company Battery Mineral Resources Ltd. for 50 U.S. cents each for a total of US$1 million.
The company received the Battery Mineral shares as partial consideration for the sale of its South Korean graphite assets in 2016.
To date, Hexagon has received offers for all shares, with consideration of about US$700,000 received and the balance due this week.
The transaction boosts Hexagon's cash reserves and will enable the company to complete its current test and development work on the McIntosh graphite project in Western Australia.
