Ann: New Managing Director for Hillgrove, page-23

Hey MW and Ducky

This might 'speak' to your issue. I ran a program last year(?) around mineral interests of companies on the ASX and ran one specifically addressing copper. (MCAP stuff would be out of date but company 'sub-industry' stuff is usually pretty stable.

In any case, it is an analysis of all companies on the ASX that have an 'interest' in Copper (anything from exploring to producing). The cut off was 5 different mineral interests

18 were in the Copper Sub-Industry Category and 183 outside the Copper Sub-Industry. So if HGO moves into the Copper Sub-Industry, you can see how the 'field' diminishes.

Column two lists the companies according to their 'Mineral Mix'. Note that even in the Copper Sub-Industry, 10 companies have an 'interest' in minerals other than copper..

At the time of the analysis, HGO was in the category which I have highlighted in yellow.

Out of curiosity, could you let me know if this stuff is of interest or useful.

Cheers

	Copper Plays on ASX by Mineral Mix (upto 5) (SI. = CU Sub-Industry)	Total No. of Companies	No of Companies by Market Cap Category
			<$50m	$50-$300m	300m-$2B	$2bto$10B	10B+
Copper Sub-Industry	Copper (S.I.)	8	5	3
	Copper (S.I.) + Gold + Silver	3		1	2
	Copper (S.I.) + Gold + Silver + Molybdenum	2	1	1
	Copper (S.I.) + Gold	1	1
	Copper (S.I.) + Gold + Nickel + Silver + Zinc + Lead + Iron	1				1
	Copper (S.I.) + Gold + Silver + Zinc + Lead + Tungsten	1		1
	Copper (S.I.) + Silver + Zinc + Lead	1	1
	Copper (S.I.) + Gold	1		1
	Sub-Total	18	8	7	2	1	0
Outside the Copper Sub-Industry	Copper + Gold + Nickel	48	40	6	2
	Copper + Gold	32	28	4
	Copper + Gold + Silver + Zinc + Lead	14	11	2	1
	Copper + Gold + Silver	12	10	2
	Copper + Gold + Iron	4	2	2
	Copper + Gold + Coal	3	3
	Copper + Gold + Cobalt	3	3
	Copper + Gold + Gas	3	2	1
	Copper + Nickel + Cobalt	3	3
	Copper + Gold + Nickel + Silver	2	1	1
	Copper + Gold + Nickel + Zinc	2	2
	Copper + Gold + Nickel + Zinc + Lead	2	2
	Copper + Gold + REE	2	2
	Copper + Gold + Silver + Molybdenum	2	1	1
	Copper + Gold + Zinc + Cobalt	2		2
	Copper + Gold + Zinc + Lead	2	1	1
	Copper + Cobalt + Manganese	1	1
	Copper + Gold + Aluminium	1	1
	Copper + Gold + Clay	1		1
	Copper + Gold + Coal + Graphite + Lithium	1	1
	Copper + Gold + Cobalt + Lithium + Quartz	1	1
	Copper + Gold + Cobalt + Uranium + Vanadium	1	1
	Copper + Gold + Graphite	1	1
	Copper + Gold + Graphite + Quartz	1	1
	Copper + Gold + Iron + Lithium	1	1
	Copper + Gold + MineralSands	1	1
	Copper + Gold + MineralSands + Quartz	1		1
	Copper + Gold + Molybdenum	1	1
	Copper + Gold + Nickel + Iron	1			1
	Copper + Gold + Silver + Clay	1	1
	Copper + Gold + Silver + Iron + Mineral Sands	1		1
	Copper + Gold + Silver + Lead	1	1
	Copper + Gold + Silver + Lead + Molybdenum	1	1
	Copper + Gold + Silver + Lead = Uranium	1		1
	Copper + Gold + Silver + Lithium	1		1
	Copper + Gold + Silver + Manganese	1	1
	Copper + Gold + Silver + Molybdenum + Tungsten	1		1
	Copper + Gold + Silver + Tungsten + Uranium	1		1
	Copper + Gold + Silver + Zinc	1			1
	Copper + Gold + Silver + Zinc + Gas	1	1
	Copper + Gold + Silver + Zinc + Molybdenum	1	1
	Copper + Gold + Silver + Zinc = PGE	1	1
	Copper + Gold + Zinc	1	1
	Copper + Gold + Zinc + Lead + Gas	1	1
	Copper + Gold + Zinc + Lead + Uranium	1	1
	Copper + Gold + Zinc + Molybdenum + Tungsten	1	1
	Copper + Gold + Zinc + Uranium	1	1
	Copper + Iron + Manganese + Gas	1	1
	Copper + Nickel	1	1
	Copper + Nickel + Cobalt + Lithium	1					1
	Copper + Nickel + Cobalt + Lithium + Manganese	1		1
	Copper + Nickel + Cobalt + Manganese	1		1
	Copper + Nickel + Cobalt + PGE	1	1
	Copper + Nickel + Iron + PGE	1	1
	Copper + Nickel + PGE	1	1
	Copper + Nickel + Zinc + Lead +PGE	1	1
	Copper + Phosphate	1	1
	Copper + Silver	1	1
	Copper + Silver + Uranium	1	1
	Copper + Tin + Tunsgsten	1		1
	Copper + Zinc	1	1
	Copper + Zinc + Indium	1	1
	Copper + Zinc + Lithium	1			1
	Mining Companies outside "Copper Sub-Industry"	183	144	32	6	0	1