Hillgrove Resources Limited (Hillgrove) (ASX: HGO) is pleased to advise that production blasting and stope extraction commenced at the Nugent deposit, with first stope ore expected to be processed this month.
This milestone marks the transition from development to production at Nugent, a key ore source within the Kanmantoo underground mine. Nugent will play a critical role in the growth trajectory of Kanmantoo, and, along with the Kavanagh mineralisation, is expected to deliver:
Commenting on the Nugent first stope ore, Hillgrove Managing Director and CEO, Bob Fulker said: 'The commencement of stoping at Nugent marks a significant milestone in Hillgrove's growth strategy. Nugent is set to be a core contributor to the Company's expansion plans, increasing mill throughput from 1.4Mtpa to a sustained 1.7-1.8Mtpa1 . This uplift in processing capacity utilisation enhances operational flexibility, lowers unit costs, and strengthens Hillgrove's production profile as we continue to scale copper output.'
Contact:
Mr Luke Anderson
CEO & Managing Director Chief Financial Officer
Tel: +61 (0)8 7070 1698
Forward Looking Statement
This Report contains or may contain certain forward-looking statements and comments about future events, that are based on Hillgrove's beliefs, assumptions and expectations and on information currently available to management as at the date of this presentation. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as 'may', 'will', 'expect', 'plan', 'believes', 'estimate', 'anticipate', 'outlook', and 'guidance', or similar expressions, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production and production potential, financial forecasts, product quality estimates of future Mineral Resources and Ore Reserves. Such statements are only expectations or beliefs and are subject to inherent risks and uncertainties which could cause actual values, results or performance achievements to differ materially from those expressed or implied in this announcement. Where Hillgrove expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and on a reasonable basis. No representation or warranty, express or implied, is made by Hillgrove that the matters stated in this presentation will in fact be achieved or prove to be correct. Except as required by law, Hillgrove undertakes no obligation to provide any additional or updated information or update any forward-looking statements whether on a result of new information, future events, results or otherwise. Readers are cautioned against placing undue reliance on forward-looking statements. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Hillgrove, the directors, and management of Hillgrove. These factors include, but are not limited to difficulties in forecasting expected production quantities, the potential that any of Hillgrove's projects may experience technical, geological, metallurgical and mechanical problems, changes in market prices and other risks not anticipated by Hillgrove, changes in exchange rate assumptions, changes in product pricing assumptions, major changes in mine plans and/or resources, changes in equipment life or capability, emergence of previously underestimated technical challenges, increased costs, and demand for production inputs.
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