Hillgrove Resources Limited ( (AU:HGO) ) has issued an update.
Hillgrove Resources Limited announced a $16 million equity raising initiative, including a $13 million placement and a $3 million Share Purchase Plan, to accelerate the development of its Nugent deposit. This move is expected to increase copper production at the Kanmantoo mine by 25%, reduce unit costs, and enhance operational efficiency by drawing from three production areas, positioning Hillgrove to capitalize on favorable mining conditions in South Australia.
More about Hillgrove Resources Limited
Hillgrove Resources Limited is a company operating in the mining industry, primarily focused on copper production. It operates the Kanmantoo copper mine in South Australia and aims to enhance its market position by increasing production and reducing costs.
YTD Price Performance: -20.0%
Average Trading Volume: 3,442,391
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$83.82M
See more data about HGO stock on TipRanks’ Stock Analysis page.