Hillgrove Resources Ltd
ASX:HGO
Hillgrove Resources Ltd
Hillgrove Resources Ltd. is an Australian mining company focused on developing its Indonesian and Australian base and precious metals projects. The company is headquartered in Adelaide, South Australia. The firm is focused on copper production from the Kanmantoo Copper Mine in South Australia. The Kanmantoo Copper Mine is located approximately 50 kilometers from Adelaide in South Australia and consists of Giant, Nugent and Emily Star Open Pits, and a fully permitted and operational ore processing plant and tailings storage facility with spare capacity. The firm also holds approximately 6,150 square kilometers of granted exploration licenses in south-eastern South Australia. Its tenements are all located within the Delamerian orogen. The Stella and North West Kanmantoo are priority targets within the near mine tenement. Stella is located approximately 1.5 kilometers south east of the Kanmantoo processing plant. North West Kanmantoo is located approximately 4.5 kilometers north-west of the Kanmantoo processing plant.
Hillgrove Resources Ltd. is an Australian mining company focused on developing its Indonesian and Australian base and precious metals projects. The company is headquartered in Adelaide, South Australia. The firm is focused on copper production from the Kanmantoo Copper Mine in South Australia. The Kanmantoo Copper Mine is located approximately 50 kilometers from Adelaide in South Australia and consists of Giant, Nugent and Emily Star Open Pits, and a fully permitted and operational ore processing plant and tailings storage facility with spare capacity. The firm also holds approximately 6,150 square kilometers of granted exploration licenses in south-eastern South Australia. Its tenements are all located within the Delamerian orogen. The Stella and North West Kanmantoo are priority targets within the near mine tenement. Stella is located approximately 1.5 kilometers south east of the Kanmantoo processing plant. North West Kanmantoo is located approximately 4.5 kilometers north-west of the Kanmantoo processing plant.
Production Guidance Met: Hillgrove delivered 11,315 tonnes of copper in 2025, landing within its 11,000–11,500 tonne guidance range.
Strong Cash Flow: Operating cash flow for 2025 reached AUD 35.8 million, with AUD 12.7 million generated in the December quarter.
Costs At Low End: All-in costs for 2025 were USD 4.29 per pound, at the lower end of the company’s guidance.
Resource Growth: Ore reserve tonnes increased by 43% and mineral resource tonnes by 14% compared to 2024, with new discoveries and extensions.
2026 Outlook: Copper production guidance for 2026 has been raised to 12,750–14,000 tonnes, with costs expected to ease in the second half.
Gold Upside: Gold production is expected to rise significantly in 2026 due to higher grades, especially from the Nugent area.
Expansion Progress: Major development milestones were achieved, including commencement of Nugent Stope ore production and linking of mining areas.
Capital Position: Ended 2025 with a strong cash balance of AUD 20.6 million and total liquidity of AUD 30.8 million.
