Latest news with #HillgroveResources
News.com.au
02-07-2025
- Business
- News.com.au
Copper's a red hot bet for the rest of 2025
Copper prices tipped to stay high through the second half of 2025 Red metal has turned into a hot commodity play, with M&A and big capital raisings showing investors are laser-focused on it Hillgrove Resources the most undervalued option on the ASX, says Bell Potter The copper price recently hit US$10,000 per tonne for the first time this year and analysts see further upside in the coming months. Copper has staged a strong recovery since April, when it dipped to around US$8500/t following the announcement of US President Donald Trump's Liberation Day tariffs. Last week, Goldman Sachs said the Section 232 investigation into US tariffs was driving an unusually wide gap between COMEX prices in New York and and London Metal Exchange prices, which had resulted in the US 'over-importing' roughly 400,000 tonnes of copper since the start of the year. 'US inventory has risen to over 100 days' worth of consumption, up from just 33 days at the beginning of the year,' the bank said. 'As a result, the ex-US copper market has tightened, causing fears of a regional copper shortage despite the global market being in surplus. 'The front of the LME curve has tightened substantially, with the LME cash contract briefly trading over US$10,000/t on June 23 and has traded at a US$95-379/t premium to the three-month contract week.' As a result of fears of a shortage outside the US, Goldman Sachs lifted its December 2025 half LME copper price forecast to an average of US$9890/t, a decent uplift from its previous forecast of US$9140/t. 'We expect the copper price to rise to a peak for the year of US$10,050/t in August due to (1) the tariff-driven reduction in ex-US stocks, and (2) China sentiment and activity remaining relatively resilient (for now), before declining to US$9700/t by December,' Goldman said. 'The expected decline reflects our base case (80% probability) of a 25% tariff being put in place on US copper imports by September, but a later than expected tariff implementation could keep LME prices higher for longer.' 'Scramble' is on Australia's newest copper producer, Bill Beament's Develop Global (ASX:DVP), last week raised $180 million to fuel its copper growth ambitions. Beament said the level of interest in its now suspended sale process for a minority interest in its Woodlawn mine in New South Wales indicated that a 'scramble' for copper offtake was unfolding. 'It has become increasingly obvious to us that there is a window of lucrative opportunity in the copper and base metals space generally,' he said. 'There is a global race on to secure offtake of these crucial metals, particularly from tier-1 locations, and we are in the box seat to take full advantage of this opportunity.' That scramble is evident in the bidding war unfolding for New World Resources (ASX:NWC). After being virtually unloved for most of last year, the copper developer finds itself at the centre of a three-way tussle between AIM-listed Central Asia Metals and US private equity fund Kinterra Capital. New World's Antler copper project in Arizona has a resource of 11.4 million tonnes at 4.1% copper equivalent, making it one of the highest-grade copper deposits in North America. Antler has been designated as a Fast-41 Transparency Project by the US government, keeping the project on track for first production in 2027. At this stage, New World is backing Central Asia's bid, which was increased to 6.2c per share, from the original bid price of 5c per share, trumping Kinterra's 5.7c per share bid. However, Kinterra holds more than 19% of New World and has made an application to the Takeovers Panel, indicating that there may be more to play out in the saga. Copper miners making hay There's still only a handful of copper producers on the ASX and soon to be one less, with MAC Copper (ASX:MAC) set to be snapped up by South Africa's Harmony Gold for US$1.03 billion. Market leader Sandfire Resources (ASX:SFR) is trading at close to all-time highs, its market capitalisation pushing through $5 billion in the process. Last week, AIC Mines (ASX:A1M) secured a US$40M prepayment facility linked to an offtake agreement with Trafigura and raised $55 million to fund its new Jericho mine and expand the Eloise plant in Queensland. According to recent research from Bell Potter Securities, the cheapest ASX-listed copper miner on an enterprise value basis is South Australian producer Hillgrove Resources (ASX:HGO). Its market cap is less than half of AIC's, despite the two companies having similar production profiles this year. Hillgrove operates the Kanmantoo underground copper mine in South Australia, where it has been quietly ticking off milestones in its aim to become a mid-tier copper producer. The mine hit commercial production a year ago and achieved record production of 2952 tonnes of copper in the March quarter, generating $12.7 million of mine operating cashflow. Earlier this year, Hillgrove raised $18 million to accelerate the development of the Nugent deposit and increase exploration. That strategy is already paying off, with Hillgrove announcing last week that development rates at Nugent had outperformed expectations, delivering the first development ore 3-6 months ahead of plan. The Nugent development ore has been delivered to the mill ahead of first stoping ore in the December quarter. Hillgrove said the early milestone provided operational flexibility ahead of a planned increase in mill throughput from the current 1.4Mt per annum run-rate to 1.7-1.8Mtpa in the first half of next year. In the meantime, production for the month of June was expected to be slightly lower at 750-800t of copper as the company prioritised development and deferred high-grade stopes. Hillgrove said the approach would position the company for a stronger, more consistent performance in the second half of the year and beyond. The company maintained full-year guidance of 12,000-14,000t of copper.
The Australian
26-06-2025
- Business
- The Australian
HGO eyes expanded Kanmantoo copper resource
HGO spots copper outside of existing Kanmantoo mine resource Deepest drill hole intersected 2.4m at 0.9% copper and 0.04g/t gold Resource definition drilling has also intersected multiple positive results Drilling continuing with the goal of growing the resource base Special Report: Hillgrove Resources has found copper mineralisation outside the existing resource while drilling at its Kanmantoo operations in South Australia. The company is undertaking 20,000m of resource extension drilling and 40,000m of resource definition drilling with the aim of growing the resource of 19.3Mt at 0.77% copper and 0.14g/t gold. Drilling at the 750 diamond drill site at Kavanagh - the deepest underground drill site at the project – intercepted 2.4m at 0.9% copper and 0.04g/t gold (uncut) from 238.6m downhole in hole 25KVUG0597. In addition to this, with the resource definition drilling, there were multiple positive results, which included: 13m at 2.24% Cu and 0.13g/t Au (uncut) from 109m downhole; 2m at 1.19% Cu and 0.17g/t Au (uncut) from 108m downhole; 4.1m at 0.9% Cu and 0.06g/t Au (uncut) from 82m downhole; and 9m at 0.79% Cu and 0.28g/t Au (uncut) from 196m downhole. Hillgrove Resources (ASX:HGO) said finding this mineralisation outside the resource estimate highlighted the continuity of the Kavanagh ore body. As 25KVUG0597 provided the deepest intersection at Kavanagh West, being 200m below the existing stoping area, it indicates a new vertical extension target. Drilling from underground is on track to achieve the 60,000m target, with 5,931.6m completed in May from the fulltime operation of three underground diamond rigs. Watch: New top mining metrics for Kanmantoo copper Looking to grow the resource base Hillgrove will continue drilling in the coming months focused on investigating the potential to grow the resource base and enhance the long-term outlook at Kanmantoo. 'We are still in the early stages of the drilling program at the Kavanagh 750 diamond drill site but I'm encouraged by the results so far,' CEO and managing director Bob Fulker said. 'These are the first holes drilled in this area since underground development began and they not only reaffirm our confidence in the existing resource but also include several intersections with grades exceeding the current average in the published mineral resource estimate. 'One particularly positive result comes from hole 25KVUG0597, which intersected mineralisation approximately 200 metres below the current Kavanagh West stoping horizon on the 785 level. 'Although the intersection is narrow, it represents the deepest mineralised hit recorded at Kavanagh West to date. 'This opens up a new vertical extension target with the potential to expand the mineral resource estimate if this trend continues.' An updated resource estimate will be released in Q4 2025 following a mid-year data close off window. This article was developed in collaboration with Hillgrove Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
10-06-2025
- Business
- News.com.au
Break it Down: Hillgrove notches record copper mining metrics at Kanmantoo
Hillgrove Resources has notched up a set of new records for the Kanmantoo copper mine as the red metal sector heats up.
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Strategic Royalty Acquisition Sparks Investor Interest in This Small-Cap
On an overall risk-off day, there was a notable development in the mining sector that stood out. A key announcement related to a producing asset led to increased investor interest and ultimately sent shares of one mining royalty company higher. Shares of Vox Royalty Corp. (TSX:VOXR) (NASDAQ:VOXR) were on the move higher as the company announced that they would be acquiring a cash-flowing 2.5% net smelter return (NSR) royalty on the producing Kanmantoo copper-gold mine in South Australia for $11.7 million, funded through a drawdown from its credit facility with Bank of Montreal. Operated by Hillgrove Resources and located 55km from Adelaide, the royalty steps down to 0.5% after 85,000 tonnes of copper are produced, with approximately 72,435 tonnes remaining as of April 30, 2025. The Kanmantoo underground copper-gold mine is a fully operational site expected to produce 12,000 to 14,000 tonnes of copper in 2025, along with notable gold and silver byproducts. Previously mined as open pits from 2010 to 2020 with production of 137,000 tonnes of copper and over 55,000 oz of gold, underground operations began in May 2023 and reached commercial production by July 2024. The mine benefits from A$200 million in established infrastructure, including a 3.6Mtpa processing plant currently running at ~40% capacity, and offers significant expansion potential. With a total resource of 18.9Mt at an average grade of around 0.77% Cu and 0.14g/t Au, and a regional exploration target of 25–40Mt at up to 1.4% Cu, the site holds strong exploration upside. A 60,000m drilling program underway in 2025 aims to update the resource estimate and potentially extend mine life. Development is also accelerating at the gold-rich Nugent deposit, with first ore expected in Q4 2025 and recent high-grade drill results supporting its potential. Shares of VOXR are currently up 4.99% at $4.63 while U.S. listed shares (VOXR) are up 4.92% at $3.305 in mid-morning trading. Copyright © 2025 All rights reserved. Republication or redistribution of content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
News.com.au
08-05-2025
- Business
- News.com.au
Break it Down: Hillgrove on track for copper guidance
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at Hillgrove Resources' (ASX:HGO) progress toward hitting production guidance at its Kanmantoo copper mine in South Australia. The company reports it is on track to hit up to 14,000t of copper, at a time when the metal has been trading in a range of US$4.5-5 per pound. While Hillgrove Resources is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: Hillgrove on track for copper guidance
