Ann: 100m Step Out Hole at Kavanagh Hits 45.4m @ 1.2% Copper, page-5

I think the importance of today's news is high.

Hillgrove is a VERY near term copper producer that will sell into escalating copper demand and a diminishing copper supply.

It's small, but with what they already have in place, it will be very profitable. (Go back and look at the predicted IRR).

What has restrained the market valuation to ~$125m for now is the fact that the resource, as it stands, would support a mine with a limited life.

To release these restraints, Hillgrove needs to prove up that the life of mine will be much longer. They do this by proving up economical finds of more ore. Economical means sufficient grade and proximity to what's already being mined.

That's why the images in the announcement matter more than just the statements. Look at the proximity to the already approved UG mining ...



Normally drill assays at a depth of 400m can suggest big costs. But these are just extensions to what is already on the way!

As we progress into 2024 mining and selling copper, Hillgrove will just keep drilling the many prospects they have proving up a much longer life of mine than currently being valued.

That's a big part of why I am invested.

The other part is ...


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