Australia's Hillgrove Resources up on progress in Kanmatoo copper mine

Kantra Copper

19/06/2023 05:36

** Shares of mining co Hillgrove Resources Ltd  HGO.AX  jump
as much as 3.64% to A$0.057, their highest level since May. 3 
    ** Shares mark their third straight day of gains 
    ** Co approves first stage of development of the Kanmatoo
underground copper mine in Southern Australia
    ** Says project is fully funded without debt, through
placement of A$38 mln ($25.99 mln) and share purchase plan 
    ** Adds first stage projected to deliver 43,500 tons of
copper in concentrate over the initial four-year schedule  
    ** More than 5.2 mln shares change hands, compared with
30-day average volume of ~2.2 mln shares  
    ** Stock up 1.9% this year, as of last close, vs a 3.02%
increase in the benchmark S&P/ASX 200 index  .AXJO  


($1 = 1.4622 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))