Hillgrove Resources's success with the drillbit should put the company on more investors' radars, says Wilsons. Hillgrove has nearly doubled the contained copper within its mineral resource base to some 150,000 tons. Analyst Sam Catalano notes the stock is up some 25% in six weeks. Still, he says the "broader market remains relatively unfamiliar with the rebirth of the Kanmantoo operation as an incumbent copper producer." Moreover, many investors have likely dismissed the company because of its modest previous resource base, which underpinned only four years of formal mine life, Wilsons says. It believes Hillgrove's latest announcement "is just the start of a resource upgrade cycle which should continue over coming years" and retains an overweight call on the stock.([email protected]; @dwinningWSJ)
HGO Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
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