Hillgrove Resources Limited · ASX:HGO
Hillgrove Resources — Q1 2025 Earnings Presentation
22 slides from Hillgrove Resources's earnings presentation, Apr 29, 2025
Slide 1: South Australia's Second Largest Copper Producer
For personal use only South Australia’s Second Largest Copper Producer Presentation to Analysts 29 April 2025 Bob Fulker Managing Director 1
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer To the maximum extent permitted by law, neither Hillgrove nor its related corporations, directors, officers, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for
Slide 3: Corporate snapshot
Corporate snapshot An Australian copper producer Market Statistics Major Shareholders Share price1 $0.037 For personal use only Freepoint Metals & Concentrates 20.0% Shares on issue 2,537M Ariadne Australia 10.3% Market capitalisation $94M Debt Nil Board & Management Cash2 $15M Derek Carter Chair En
Slide 4: ASX copper landscape
ASX copper landscape Scarcity of Copper pureplay Australian producers There is a large liquidity gap in the Australian Market, investment opportunity For personal use only ▪ ▪ Small-cap copper producers are well positioned to capitalise on investor interest in copper ▪ Significant potential for indu
Slide 5: Delivering our Strategy
Delivering our Strategy To be a mid-tier Australian, multi asset, copper producer - unlocking value for a sustainable future Delivering the Growing the Priority 1 Priority 2 For personal use only Business Business 2024 Kanmantoo Organic • Achieved Commercial Production Growth • Improved Mineral Reso
Slide 6: Kanmantoo operations
Kanmantoo operations Supplying critical minerals for a sustainable future ▪ Long legacy of environmental stewardship and positive stakeholder For personal use only engagement ▪ Supporting the local community with a residential workforce ▪ 54% within 25kms ▪ 95% within 125km ▪ Underground bulk mining
Slide 7: Kanmantoo March 2025 results
Kanmantoo March 2025 results Record Operational delivery & improved financial results For personal use only Improved Financial Delivery ▪ 92% increase in Mine Operating Cash Flow to $12.7 million ▪ Strengthened balance sheet to execute our growth plans • $7.6m from SPP and Tranche 2 Placement in Jun
Slide 8: On lease growth opportunities
On lease growth opportunities Multiple opportunities to increase our Resource and Reserve Kanmantoo Region Exploration Target Tonnage Range Grade Range Grade Range For personal use only Deposit (Mt) (Cu%) (Au g/t) Targets Below 2024 Mineral Resource Kavanagh 4.5-7.0 0.7-1.4 0.05-0.2 Nugent 2.8-3.4 0
Slide 9: Paringa Mine Circa 1870's
Paringa Mine Circa 1870’s Remnant building, flue and stack are visible today For personal use only ASX:HGO | Investor Presentation | April 2025 9
Slide 10: Nugent extension
On lease growth opportunities Nugent extension For personal use only * Refer ASX announcement of 21 January 2025 * Refer ASX announcement of 24 March 2025 ▪ Extension of Nugent mineralisation was the first to be tested • Unexpected as we were only testing the extremities of the mineralisation • Addi
Slide 11: Group Summary
Group Summary Improved liquidity position For personal use only ▪ 6% decrease in C1 costs ▪ 6% decrease in AIC Costs ▪ Improved liquidity ▪ Improved Operating Mine Cashflow ▪ Strengthened balance sheet to execute our growth plans ▪ 7,850 tonnes of hedging at average of $14,375 per tonne ASX:HGO | In
Slide 12: Focus for next quarter
Focus for next quarter Deliver and grow the business For personal use only ▪ Maintain focus on our two key priorities • To be a mid-tier, multi-asset Australian copper producer unlocking value for a sustainable future ▪ Delivering the business • June quarter copper production greater than March quar
Slide 13: For personal use only
For personal use only ASX:HGO | Investor Presentation | April 2025 13
Slide 14: Kanmantoo Mineral Resource
Kanmantoo Mineral Resource Notes: Cu Au 1. Due to effects of rounding, total numbers may JORC Tonnage Cu Au Ag Bi Mine Area Metal Metal not sum. Classification (kt) (%) (g/t) (g/t) (ppm) For personal use only (kt) (koz) 2. Tonnage and metal are rounded to the nearest 1,000 tonnes, grades are rounded
Slide 15: Kanmantoo Ore Reserve
Kanmantoo Ore Reserve Tonnes Cu Metal Au Metal Mine Area JORC Classification Cu (%) Au (ppm) Ag (ppm) Bi(ppm) (kt) (kt) (koz) Proved 1,100 1.01 0.04 2.82 220 12 1 For personal use only Kavanagh Probable 1,000 0.88 0.15 2.70 140 9 5 Proved + Probable Kavanagh Total 2,100 0.95 0.09 2.76 180 21 6 Prove
Slide 16: JORC Table
JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary • Reverse circulation (RC) and diamond drill hole (DD) samples collected by Hillgrove Resources personnel have been used for the geological interpretation and estimation. Sampling • Drill hole sampling was conducted as per the H
Slide 17: JORC Table
JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Drilling Techniques Drillhole Type Drill Date Bit Size % Oriented Orientation Method HQ from surface to fresh, then NQ to end of Diamond All 97% Spear hole 2004 & 2007 5.75” NA NA For personal use only RC 2011 & 2012 4.5” NA NA
Slide 18: JORC Table
JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Logging • All drill core was logged for lithology, alteration, weathering and mineralisation by Hillgrove geologists in accordance with Hillgrove’s Core Logging Procedure. Colour and any additional qualitative comments are also
Slide 19: JORC Table
JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Quality of assay data • Pre 2011, all samples were submitted to Genalysis for analysis. Gold was determined by fire assay by flame AAS (FA50) and copper analysed via a mixed acid digest (method AT) with determination by Optical
Slide 20: JORC Table
JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Verification of • Umpire laboratory checks were undertaken during 2008 and 2011 with no significant issues identified. sampling and assaying • Primary sample data is captured in the field into templates and stored on the Hillgro
Slide 21: JORC Table
JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Orientation of data in • The majority of holes are angled drill holes (dipping between -55º and -75º) drilled from east to west. Predominantly the main mineralised lenses dip steeply to relation to geological local grid east, th
Slide 22: JORC Table
JORC Table 1 Section 2 Reporting of Exploration Results Criteria Commentary Mineral tenement and land • The Kanmantoo Cu-Au mine is situated on Mining Lease ML6345 and is owned 100% by Hillgrove Resources Limited tenure status (HGO). For personal use only • HGO owns the land covered by the Mining Le