Hillgrove reports solid quarter
PERTH (miningweekly.com) – Copper miner Hillgrove Resources has reported solid production in the third quarter, despite it being only a two-month quarter as the company aligned its financial year to the calendar year.
For the two months ended September, Hillgrove’s Kanmantoo copper mine, in South Australia, delivered 4 429 t of concentrate, which was at the upper end of forecast guidance for the third quarter.
Including the month of July (to replicate a three-month quarter for comparative purposes), September quarter production increased to 6 331 t of concentrate, which was a record performance when compared with the 5 884 t delivered in the second quarter, which ended in July.
Hillgrove reported on Monday that while ore mining was interrupted during the quarter by some end-of-winter rains, the mined primary grade during August and September was higher than 1% copper.
The processing plant at Kanmantoo also performed very well during the quarter, with the new screening system, installed over the last quarter, continuing to operate to expectations. Mill throughput was also above plan, with recovery and costs in line with expectations.
During the two months under review, Hillgrove reported a revenue of A$36-million, while year-to-date revenue was reported at A$128.5-million.
Looking ahead, Hillgrove was expected to produce between 20 500 t and 22 500 t of copper in concentrate during the 11 months to December, while gold production would reach between 6 000 oz and 7 800 oz.
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