Hi Ebor,Good to see copper sitting at $13,969. and sell lines...

Hi Ebor,

Good to see copper sitting at $13,969. and sell lines finally being wiped with a degree of enthusiasm. Its not hard to understand why.

Dreaming about how big a pile of dollars your bucket full of HGO shares will snare is as much fun as going trout fishing with a tub full of dragon fly hatchlings.

Hillsgrove ..... Hill$grove ..... soon to be Hill$$$$$$$$$$sgrove as the pile of $s grows when the plant is running full and Annual production more than doubles and exploration success extends the mine life off over the Horizon.

I have been wondering what decision the board will make when they have enough resources to either:-

(A) run the plant full processing 2.5m t of ore at 2% Cu grade to produce 46,500t of copper /annum at ES2 study forecast cost which would deliver an ASIC of $5.122/t but would likely increase with higher mine development costs if only the higher grade cores are mined to maybe, based on a guess that mine development cost would double, to circa $6100/t of cu produced,

or

(B) drop the cut off grade to 0.4 % and process circa 3.46mt of ore to produce 27.5kt of cu at an ES2 cost forecast ASIC of $8092/t of cu produced.

The numbers are completely mind boggling even at a price of $12,500/t

plan A which delivers circa $300m free cash flow /annum fills the creel a lot quicker than plan B's $120m pa.

Seems like a no brainer once there is enough free cash to develop access to enough of the stopes close to the plant to execute Plan A if the lie detectors find enough resources in all those exploration targets to make that a possibility.

It would have to be the only choice if the option to come back later and get the lower grades remains an option.