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Hillgrove Resources Limited ( (AU:HGO) ) has provided an update.
Hillgrove Resources delivered 2025 copper production of 11,315 tonnes, in line with guidance, and achieved all-in costs at the lower end of its forecast range, generating $35.8 million in operating mine cash flow and ending the year with $20.6 million in cash. Operational performance strengthened through record quarterly copper output, increased underground development, and mining and processing rates above a 1.5Mtpa run-rate, while the start of Nugent stope production ahead of schedule provided a second ore source and an underground link to Kavanagh. The company reported a 43% increase in Ore Reserves and a 14% rise in Mineral Resources at Kanmantoo, underpinned by extensive drilling that both exceeded annual meterage targets and returned strong intercepts at Kavanagh, supporting expectations of a longer mine life and future growth. For 2026, Hillgrove has issued copper production guidance of 12,750–14,000 tonnes at a targeted all-in sustaining cost of A$5.75–A$6.25 per pound, and plans A$8–10 million of capital investment to ramp up production, advance Emily Star as a potential third ore source, and pursue further resource growth through surface and underground drilling, positioning the operation for scale and cost improvements that are significant for shareholders and broader project stakeholders.
The most recent analyst rating on (AU:HGO) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Hillgrove Resources Limited stock, see the AU:HGO Stock Forecast page.
More about Hillgrove Resources Limited
Hillgrove Resources Limited is an Australian copper-focused mining company, centred on the Kanmantoo copper-gold operation in South Australia. The company’s activities span underground mining, mineral resource development and exploration, with a focus on expanding copper production through additional ore sources such as Nugent and potential future sources like Emily Star and North Kavanagh.
Average Trading Volume: 17,181,793
Technical Sentiment Signal: Buy
Current Market Cap: A$194.6M
For detailed information about HGO stock, go to TipRanks’ Stock Analysis page.