Ann: Transformational Acquisition, page-89

Well this is an interesting development. Hillgrove has its own problems that is true, and yes Red River the previous owners did go bust but that was due to unforseen expense at their Thalanga operation run by Cromarty Resources (RVR sub company), inevitably resulting in bankruptsy of the parent company.

I have been waiting for someone to take on Hillgrove and will be watching these guys with interest and will be doing DD in the coming week. Discounted price would be due to other offers from interested parties falling through for the mine, offers were originally finished in June or July iirc, and was extended due to several of the offers falling through. RVR administrators have not put out an announcement re LRV as yet.

I know the area reasonably well and Hillgrove as an area is very highly mineralised, it is complex however and split over multiple deposits over a large area. In my opinion should be viewed as a Antimony resource with Gold on the side. If I remember rightly, RVR was having issues with seperation of the gold in the process plant on site.

The Grafton-Maclean Metallurgical Map by NSW Geoscience shows an outstanding number of known Antimony occurances within the district and also a large number of Gold occurances comparitive to other regions of the state.

Hillgrove is also the only location in Australia with Antimony processing plant in place, as a Hydrogen Chloride treatment plant. I am not sure as to what sort of condition the plant is in now.

Antimony is a valuable resource but with a small global market at the present time. Primary uses are flame retardants, lead hardeners, semiconductors and solar panels. The big growth market is in Grid level battery storage technology, this development could increase demand significantly in the future.

Just my 2c. I will atempt to upload the section of the map covering Hillgrove here soon, going to be difficult to get it right on my scanner as its printed on a A2 sheet of paper.
Regards, OP.