| Announcement Date: | 2023-02-27 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | JORC |
| Company name: | Hillgrove Resources Ltd. |
| Project name: | Kanmantoo |
| Location: | Australia |
| Commodities: | Gold,Copper |
| Highlight: | PEA result incl. Post Tax NPV (8%) of AUD $165M & IRR of 231% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | The Economic Assessment discussed herein has been undertaken to explore the technical and economic feasibility of developing an underground mine to economically and sustainably exploit the Kanmantoo Copper Gold Deposit, located in South Australia. The Kanmantoo Copper Gold Project (Kanmantoo or Project) is 100% owned by Hillgrove Resources Limited. The Production Target and financial forecasts presented in the Economic Assessment are shown on a 100% Project basis. The Production Target underpinning the Base Case financial forecasts included in the Economic Assessment comprises 74% Measured and Indicated Resources, and 26% Inferred Resources. The Production Target included in the Economic Assessment relating to the project payback period of 9 months post the completion of pre-production works comprises 84% Measured and Indicated Resources, and 16% Inferred Resources. The Mineral Resource Estimate underpinning the Base Case Production Target has been prepared by a Competent Person in accordance with the requirements in the JORC Code 2012. |
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