There has been some good points discussed in this thread. I would like to add a few points. The last quarter has been disappointing due to the cost of the cut back in the Giant pit. The positives are Nugent pit is producing High Grade ore and still going to go down a another bench . Emily pit will be producing lots of high grade after this bench is dug out. There will be some high grade on this bench but next bench will be the money maker. The cut back is in ore and the deeper the cut back goes the higher the grade. At the bottom of kavenagh pit the grade was really high. and should take less then 12 months to reach it.
The exploration was disappointing with no significant results. My opinion is Hillgrove should stop spending wasting money on exploration that will take years to develop and buy shares in REX minerals at bargain price. As REX minerals has a capitalisation of around 27 million only it would make more sense to buy into a large copper reserve with many approvals in place already. Please feel free to answer as I am keen to hear other peoples thoughts. I don't hold shares in either company but have been watching both for a long time and, see if the directors gave the market some indication on the next move after Kanmantoo the confidence will come back to the SP and give Hillgrove a future.
HGO Price at posting:
32.0¢ Sentiment: Hold Disclosure: Not Held
