HGO 3.77% 5.1¢ hillgrove resources limited

While the improvement in Net Current Assets was $20m for Q1 I...

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    While the improvement in Net Current Assets was $20m for Q1 I suspect the cash generated from operations was being closer to $14m. This is roughly what you get when you take the quarterly cost calculation and strip out the non cash charges and multiply by 5k tonnes. The other $6m is further build up of ROM stockpile of $3m and part of the non current inventory (ie due to be processed Jan 2020 - Mar 2020) getting reclassified as current about $3m.

    On that basis for Q2 I would start at $14m add back one months mining cost ($5m) take out the dividend ($9m) less something for redundancies, exploration etc ($3m?) so get about $7m which would be mainly spent paying out the payables owed to the mining suppliers.


 
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