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Hexagon Resources secures off-take for 30% output from McIntosh graphite project

Hexagon Resources Ltd. contracted 30% of its planned primary production from the McIntosh graphite project in Western Australia.

The company signed a nonbinding memorandum of understanding to sell up to 29,500 tonnes of various graphite concentrate products per annum to China National Building Material Co. Ltd. subsidiary China National Building Materials - General Technology Co. Ltd.

The companies have also agreed to negotiate project finance, prepayment and other debt facilities to expedite project construction, according to a Feb. 2 release.