Hillgrove 2019

I’ve read the annual report and I’d love your thoughts on the following. I’m no expert !!!

- property , plant and equipment is 44million. What does that mostly include? If in May 2020 hillgrove completed milling and sold all their assests and wrapped up the company what would their assests be worth ? Roughly?

- for HGO to give a dividend of one cent they need to pay out $5.7 million. Is that correct ?

- so if at 8cents a share HGO would have to find 48 million cash to pay out 8 cents. Which would be fully franked as well. Is that right?? Do you think that’s possible in the next 18 months?

- am I right in saying mining costs of 78 million plus pre strip of 19 million annually will cease in a month or two. Then we have over 12 months of processing only. That is going to bring our costs waaaaaay down leaving tonnes more cash. Even though guidance says a lower copper production of 13-15,000 tonnes.

- then we have the possible PHES payment ( which I’m not 100% will happen ) and the chance of going underground which I think is highly likely.

I’m not very good at analising this kinda thing but every time I crunch the numbers it looks like an amazing investment. I’ve already brought some ( mostly at 10 cents ) but at 8 I’m thinking about topping up.

Id love your thoughts and let me know if I’ve stuffed up my numbers or I’m missing something

thank you.