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An update from Hillgrove Resources Limited ( (AU:HGO) ) is now available.
Hillgrove Resources reported a record March quarter with copper production rising to 3,120 tonnes, marking a fourth consecutive quarterly increase as the Kanmantoo operation continues its ramp-up. The company maintained all-in-sustaining costs within guidance, supported by disciplined capital investment aligned with its annual development and growth plans.
Stronger production and higher realised copper and by-product prices lifted revenue by 5% to $53.8 million, driving a 16% increase in operating mine cash flow to $14.6 million and boosting the group cash balance by 22% to $25.2 million. Completion of the Stage 1 Emily Star exploration drive and the start of diamond drilling underline Hillgrove’s near-mine growth pipeline, reinforcing its balance sheet strength and positioning it for the next phase of expansion.
The most recent analyst rating on (AU:HGO) stock is a Buy with a A$0.05 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 producer focused on its Kanmantoo operations, where it is ramping up underground mining and processing capacity. The company targets near-mine growth through projects such as Nugent and Emily Star, aiming to lift throughput beyond 1.7–1.8 million tonnes per annum and support a potential 2 million tonnes per annum-plus future.
Average Trading Volume: 15,122,335
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$143.4M
See more insights into HGO stock on TipRanks’ Stock Analysis page.