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Thoughts on copper play Hillgrove Resources (HGO) please

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Thoughts on copper play Hillgrove Resources (HGO) please

Hi Team, I note your preference for SFR as a direct copper play, but could I hear your thoughts on HGO please. They have just started production at an old open pit mine and so might be too small for your intertest, but I'd appreciate your thoughts...

Answer

Hi Tony,

For subscribers not familiar with HGO its a $147mn copper & gold producer. Since BHP’s purchase of OZ Minerals (OZL) we have on a couple of occasions wished the ASX offered some alternatives to Sandfire Resources (SFR) for pure copper exposure but until further notice its our top pick although Evolution Mining (EVN) and BHP Group (BHP) now both have a decent exposure to the industrial metal.

  • At this stage with HGO having bounced between 2.5c and 10c for the last 7-years its hard not to think “penny dreadful” and as such its not on our direct radar at this stage. In the smaller space with like AIC Mines (A1M).
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Hillgrove Resources (HGO)
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