Hillgrove Resources Limited · ASX:HGO
Hillgrove Resources — FY2013 Earnings Presentation
14 slides from Hillgrove Resources's earnings presentation, Apr 30, 2013
Slide 1: Full Year FY13 Financial Results
For personal use only FULL YEAR FY13 FINANCIAL RESULTS GREG HALL IIIII CEO & MANAGING DIRECTOR RUSSELL MIDDLETON IIIII CHIEF FINANCIAL OFFICER 30 APRIL 2013
Slide 2: Disclaimer: Important Notice
DISCLAIMER Important Notice For personal use only No representation or warranty is or will be made by any person (including Hillgrove Resources Limited ACN 004 297 116 (“Hillgrove”, “HGO”, or the “Company”) and its officers, directors, employees, advisers and agents) in relation to the accuracy or c
Slide 3: Performance Update Highlights
PERFORMANCE UPDATE HIGHLIGHTS Revenue for the full year of $115.4 million – and EBITDA at $17.1 million For personal use only Full year Net Loss after tax of $11.8 million, second half profit of $2.9 million Significant investment in CAPEX for Kanmantoo project with new primary crusher and tai
Slide 4: Kanmantoo Copper Mine Production Output
FULL YEAR REPORT KANMANTOO COPPER MINE PRODUCTION OUTPUT Period FY 2012 H1 H2 FY 2013 H1 vs H2 Analysis Ore to ROM from Pit (kt) 495 1,030 1,191 2,221 For personal use only Ore to long term (kt) 1,267 546 303 849 Significant increase in stockpiles Mined Waste (kt) 7,446 5,322 6,455 11,777 total to
Slide 5: Financial Summary
FULL YEAR REPORT FINANCIAL SUMMARY Revenue of $115.4 million For personal use only H2 VS H1 ANALYSIS Hillgrove Resources underlying EBITDA of $17.1 million – a year of two halves: Significant improvement to Period H1 H2 FY 2013 all key financial $’000 $’000 $’000 metrics in H2: Revenue 50,149 65
Slide 6: Cashflow
FULL YEAR REPORT CASHFLOW For personal use only A$140m 106.8 75.3 A$105m A$70m 38.1 15.0 5.9 A$35m 3.1 2.9 27.4 17.8 20.7 8.6 1.1 A$0m Opening Cash Cash Property, Exploration Other Capital Borrowings Repayment of Repayment of Deferred Closing Balance Receipts Payments Plant, and Investing Raising Bo
Slide 7: Balance Sheet
FULL YEAR REPORT $’000 JAN JAN 2012 2013 BALANCE SHEET CURRENT ASSETS Cash 20,661 27,405 Receivables 6,406 6,398 Cash at 31 January of For personal use only Inventories 9,251 19,731 $27.4 million Derivative financial instruments 4,240 4,570 Other 1,079 733 Continued investment in Total current a
Slide 8: Hedge Prices Realised Significantly Higher Than Current Prices
FULL YEAR REPORT HEDGE PRICES REALISED SIGNIFICANTLY HIGHER THAN CURRENT PRICES For personal use only Hillgrove AUD Copper Position A$10,000 A$9,000 A$8,000 A$7,000 A$6,000 Cash Price (A$/mt) Committed Hedging (A$/mt) ^ Production started December 2011 8
Slide 9: Strong Hedge Book
FULL YEAR REPORT STRONG HEDGE BOOK For personal use only Strong hedge book provides certainty for cashflows and revenue in future periods Approximately 41,000 tonnes of copper swaps Approximately 70% of forecast copper production hedged up until June 2015 at an average price at circa A$7,950/t
Slide 10: Sensitivities and Guidance
FULL YEAR REPORT SENSITIVITIES AND GUIDANCE SENSITIVITIES TO REVENUE For personal use only AUD/USD +/- 5% AUD 2.8 million Copper Price +/- 10% AUD 4.5 million Gold Price +/- 10% AUD 0.8 million GUIDANCE FOR FY2014 Production Concentrate 75,000 – 85,000 dry metric tonnes Copper 18,000 – 20,
Slide 11: Events After Reporting Date
FULL YEAR REPORT EVENTS AFTER REPORTING DATE For personal use only New primary crushing circuit installed ahead of plan and within budget – operating to 2.8Mt pa rate Announced new Life of Mine with significant increase to future planning Reserves Finalised new financing arrangements with curr
Slide 12: Summary
FULL YEAR REPORT SUMMARY For personal use only Kanmantoo now on track to meet guidance for FY14 Revised finance arrangements complete Positive cash generation in FY14, with significant copper price certainty as a result of the strong copper hedge book Continued investment in infrastructure i
Slide 13: Key Contacts
FULL YEAR REPORT KEY CONTACTS For personal use only For further information please contact: Greg Hall, CEO and Managing Director or Russell Middleton, Chief Financial Officer Suite 1709 Australia Square Level 17, 264 George Street Sydney NSW 2000 E: info@hillgroveresources.com.au T: 61 2 824
Slide 14: Disclaimer: Competent Persons
DISCLAIMER COMPETENT PERSONS The information in this release that relates to Exploration Results and Exploration Targets for the Kanmantoo Copper Mine is based For personal use only upon information compiled by Mr Steven McClare, who is a Member of The Australasian Institute of Mining and Metallurgy