HGO 5.56% 6.8¢ hillgrove resources limited

Ann: $10 Million Placement To Fund Mine Extension Drilling, page-73

  1. 2,226 Posts.
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    "Codelco:
    Not sure the point you are trying to make?They appear to be a disaster with really bad operating conditions and incompetent management."

    Not implying anything, just news on copper and lower output.

    ARA the other day:
    "Hillgrove Resources Limited (“Hillgrove”)During the period Hillgrove commissioned its processing facility in anticipation of returning tocopper production. Pleasingly first copper production was achieved this month ahead of thetargeted timeframe of Q1 2024.
    Hillgrove has completed a $10.0 million capital raising, with the funds earmarked for mineextension drilling and exploration of new deposits within the mining lease, as well as generalworking capital needs.Mine output and copper production is expected to ramp up over the next few months as thework areas expand underground. Following recent drilling successes, the fund raising is set toaccelerate exploration and mining efforts, with the aim to expand mine life and annual copperproduction through resource expansion.
    HGO is now one of the few pure play copper producers on the ASX. The company is debt-free, has substantial available carry-forward tax losses and a franking credit balance of $17.6million and is well-positioned to leverage the anticipated growth in copper demand as the worldcontinues to de-carbonise through electrification."

 
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