I took an original investment in April 2022 because of Mt Isa and the potential for the Cobalt story and am still invested (significantly more then back then) as I really like the opportunity the Hillgrove project offers. For the majority of the time I've been a part owner of this company I have been deeply red, so its nice to be in the green.
I expect holders will do well out of Hillgrove in the long term. How well will be determined based on managements decisions around funding and offtakes and also not accepting any low ball take over offers (still smarting about L R S mgt giving away Colina project for peanuts and 50% of ATH SP - that better not happen here).
Short term I am not happy with where the SP is at and feel it should be well north of where it is now. Management is responsible for that. However, given I don't know what has been happening behind the scenes I will not rant about it. I was definitely unhappy with how the raise was handled, but am very happy with the cash in the bank at the moment and the potential to significantly increase mine life that that is currently funding.
Once the DFS is released (I wouldn't be surprised if there was a reasonable increase in CAPEX - note that the $73M ish in the PFS was based on the company selling product during the ramp up - but wouldn't be overly concerned if it blew out to $120-150M), finance is confirmed, and we commence mining the SP will eventually rerate to a fairer value as we become a cash cow.
I really like the project, am not overly excited by communications and some of the recent actions from the management around LTIs and am looking forward to seeing the responses that @PutSauce (I think it was you - or maybe @letshare) and @Harmattom get from Ron next week.
GLTAH
LRV Price at posting:
76.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)