Latest news with #Kanmantoo
News.com.au
4 days ago
- Business
- News.com.au
Break it Down: Hillgrove notches record copper mining metrics at Kanmantoo
Hillgrove Resources has notched up a set of new records for the Kanmantoo copper mine as the red metal sector heats up.
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Strategic Royalty Acquisition Sparks Investor Interest in This Small-Cap
On an overall risk-off day, there was a notable development in the mining sector that stood out. A key announcement related to a producing asset led to increased investor interest and ultimately sent shares of one mining royalty company higher. Shares of Vox Royalty Corp. (TSX:VOXR) (NASDAQ:VOXR) were on the move higher as the company announced that they would be acquiring a cash-flowing 2.5% net smelter return (NSR) royalty on the producing Kanmantoo copper-gold mine in South Australia for $11.7 million, funded through a drawdown from its credit facility with Bank of Montreal. Operated by Hillgrove Resources and located 55km from Adelaide, the royalty steps down to 0.5% after 85,000 tonnes of copper are produced, with approximately 72,435 tonnes remaining as of April 30, 2025. The Kanmantoo underground copper-gold mine is a fully operational site expected to produce 12,000 to 14,000 tonnes of copper in 2025, along with notable gold and silver byproducts. Previously mined as open pits from 2010 to 2020 with production of 137,000 tonnes of copper and over 55,000 oz of gold, underground operations began in May 2023 and reached commercial production by July 2024. The mine benefits from A$200 million in established infrastructure, including a 3.6Mtpa processing plant currently running at ~40% capacity, and offers significant expansion potential. With a total resource of 18.9Mt at an average grade of around 0.77% Cu and 0.14g/t Au, and a regional exploration target of 25–40Mt at up to 1.4% Cu, the site holds strong exploration upside. A 60,000m drilling program underway in 2025 aims to update the resource estimate and potentially extend mine life. Development is also accelerating at the gold-rich Nugent deposit, with first ore expected in Q4 2025 and recent high-grade drill results supporting its potential. Shares of VOXR are currently up 4.99% at $4.63 while U.S. listed shares (VOXR) are up 4.92% at $3.305 in mid-morning trading. Copyright © 2025 All rights reserved. Republication or redistribution of content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
News.com.au
08-05-2025
- Business
- News.com.au
Break it Down: Hillgrove on track for copper guidance
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully looks at Hillgrove Resources' (ASX:HGO) progress toward hitting production guidance at its Kanmantoo copper mine in South Australia. The company reports it is on track to hit up to 14,000t of copper, at a time when the metal has been trading in a range of US$4.5-5 per pound. While Hillgrove Resources is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: Hillgrove on track for copper guidance
News.com.au
22-04-2025
- Business
- News.com.au
Kristie Batten: As copper market tightens, Hillgrove is looking to grow
One of Australia's top mining journalists, Kristie Batten writes for Stockhead every week in her regular column placing a watchful eye on the movers and shakers of the small cap resources scene. Australia only has a handful of listed copper producers, despite increasing demand and a looming shortage. While only modest in size now, Adelaide Hills copper miner Hillgrove Resources (ASX:HGO) has big ambitions. 'Our vision is to be a mid-tier copper producer in Australia,' Hillgrove managing director Bob Fulker told the Resources Rising Stars Gather Round Conference in Adelaide earlier this month. Hillgrove operates the Kanmantoo copper project in the Adelaide Hills, close to power, water, roads and a residential workforce. 'It's a great location and it's actually why we can make money and be economic at a 1% head grade,' Fulker said. Kanmantoo started underground production in February 2024 and achieved commercial production in July. The operation generated $21 million of operating cashflow in 2024. Since Fulker, a former chief operating officer of OZ Minerals and Evolution Mining (ASX:EVN), took over as managing director of Hillgrove 10 months ago, the focus has been on stabilising production and shoring up the balance sheet. Two weeks ago, Hillgrove reported that Kanmantoo had hit its stride and achieved record quarterly production of 2952 tonnes of copper, up 12% on the December quarter. Mining activity will continue to build over the coming quarters and despite the mining of a low-grade stoping zone this month, copper production for the current quarter is expected to increase again. It puts Hillgrove on track to achieve 2025 production guidance of 12,000-14,000t of copper. While cost data for the March quarter won't be released until next week, Hillgrove's all-in cost guidance for the year is US$3.40-3.90 per pound of copper. Copper has been volatile of late but has traded in a range of US$4.50-5/lb. Fulker said the operation was designed to be profitable at a price of US$3.85/lb. 'We plan for the downs and reap the benefits in the ups,' he said. 'When you see the current copper price, you can pretty quickly work out the free cash generation we can make and we are making today.' Next leg of growth 'Kanmantoo is our first priority and it's critical to our short-term success,' Fulker said. Last month, Hillgrove announced a $13 million placement and $3 million share purchase plan to accelerate the Nugent development to increase copper production and lower unit costs. The company is looking to expand the mining and processing rate by roughly 25% from 1.4 million tonnes per annum to up to 1.8Mtpa, which Fulker said should result in a 15-20% drop in mining costs. Hillgrove was swamped with demand for the SPP, receiving applications for $8.2 million worth of shares. As a result, the company scaled back the applications but lifted the size of the offer to $5 million. Hillgrove has 20,000m of resource extension drilling and 40,000m of resource definition drilling planned with the aim of growing the resource of 19.3Mt at 0.77% copper and 0.14 grams per tonne gold. The extra funds raised under the SPP will be used to accelerate greenfields exploration at the Kanappa prospect and tenements in the southeast of the company's ground. Ultimately, Hillgrove is aiming to become a multi-mine operator and will also consider inorganic growth. 'The market actually does reward multi-operation companies and the market does deliver size,' Fulker said. 'As a company, we've got a pretty big year ahead of us but we've got a lot of momentum. We are primed to grow and deliver our strategy.' Copper demand growing Demand for copper is tipped to soar as electrification of the world gathers pace. 'Copper demand is actually outstripping supply at the moment,' Fulker said 'Humanity has mined copper for the past 5000-6000 years – it brought us out of the Stone Age into the Bronze Age and I believe it's imperative to make the next transition of humanity into the electrical age. 'What we need in the next 30 years is to mine everything we've mined in the last 5000 years.' A recent statistic from S&P Global Intelligence suggests the average time to bring a new copper mine into production is 17 years. 'We need to start between five and six operations per year to actually get what we need to get for 2050,' Fulker said. "It's quite extraordinary numbers when you consider it takes 10-20 years to discover a copper mine, permit it and then to actually build it and grow it – 10-20 years is taking us pretty close to 2050.' The copper price briefly touched an all-time high of US$5.24/lb late last month, but pulled back since due to uncertainty over US tariffs. But there could be bigger forces at play. 'Supply is not meeting demand and the price is reflecting that shortfall,' Fulker said. 'It's a great time to build a copper miner.'
