HGO 1.79% 5.5¢ hillgrove resources limited

Ann: Activity Report Quarter Ended Dec 18 & Guidance Update, page-18

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  1. VYR
    819 Posts.
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    The cost overruns are disappointing but it looks like the much higher copper price and the higher gold recoveries might just be keeping up.

    I'm also hopeful the the lost 2 KT due to the wall slip is the catalyst for a push underground at the bottom of the pit into the main prize lode and we have enough time to get much more than the lost 3.4kt out before the pit is flooded. This slide indicates that the plan was always to mine into the side wall  in the areas above the bottom of the final open pit. Could be interesting.

    https://hotcopper.com.au/data/attachments/1427/1427558-289bf635848d8f96efb19de237882a60.jpg


    It looks like there will be a fair bit of time available to plunder that resource as indications are that the PHES planning and construction will take a long time. The only indication I can find is the following slide which indicates it could come on line in Q4 2021.

    https://hotcopper.com.au/data/attachments/1427/1427540-288259637f3b5d728fb95543ece47c17.jpg



    I also like this slide which seems to indicate a fair bit of value comes from the pit and existing infrastructure which is I guess what we have to sell.


    https://hotcopper.com.au/data/attachments/1427/1427544-5e4368707e575f9c1372ad594f634271.jpg

 
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