New Risk • Aug 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$14.6m (US$10.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (33% accrual ratio). Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$14.6m market cap, or US$10.4m). Aankondiging • Jul 15
Hillgrove Resources Limited to Report Q2, 2026 Results on Jul 21, 2026 Hillgrove Resources Limited announced that they will report Q2, 2026 results Pre-Market on Jul 21, 2026 Aankondiging • Apr 17
Hillgrove Resources Limited to Report Q1, 2026 Results on Apr 22, 2026 Hillgrove Resources Limited announced that they will report Q1, 2026 results Pre-Market on Apr 22, 2026 Aankondiging • Mar 27
Hillgrove Resources Limited, Annual General Meeting, May 26, 2026 Hillgrove Resources Limited, Annual General Meeting, May 26, 2026. Aankondiging • Jan 16
Hillgrove Resources Limited to Report Q4, 2025 Results on Jan 22, 2026 Hillgrove Resources Limited announced that they will report Q4, 2025 results Pre-Market on Jan 22, 2026 Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2026 The 3 analysts covering Hillgrove Resources previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of AU$48.2m in 2026. Average annual earnings growth of 44% is required to achieve expected profit on schedule. Aankondiging • Oct 21
Hillgrove Resources Limited to Report Q3, 2025 Results on Oct 28, 2025 Hillgrove Resources Limited announced that they will report Q3, 2025 results Pre-Market on Oct 28, 2025 Aankondiging • Oct 01
Hillgrove Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 28 million. Hillgrove Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 28 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 653,523,034
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 146,476,966
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Transaction Features: Subsequent Direct Listing Reported Earnings • Aug 27
First half 2025 earnings released: EPS: AU$0.001 (vs AU$0.002 loss in 1H 2024) First half 2025 results: EPS: AU$0.001 (up from AU$0.002 loss in 1H 2024). Revenue: AU$81.3m (up 102% from 1H 2024). Net income: AU$1.50m (up AU$6.24m from 1H 2024). Profit margin: 1.8% (up from net loss in 1H 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Aankondiging • Jul 07
Hillgrove Resources Limited to Report Q2, 2025 Results on Jul 18, 2025 Hillgrove Resources Limited announced that they will report Q2, 2025 results Pre-Market on Jul 18, 2025 Aankondiging • Jun 26
Hillgrove Resources Limited Announces Executive Changes Hillgrove Resources Limited announced that Chief Financial Officer (CFO), Mr. Luke Anderson, has been appointed as Joint Company Secretary. Previous CFO and Company Secretary Mr. Joe Sutanto has taken up a new role within the business. Aankondiging • May 15
Hillgrove Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 13 million. Hillgrove Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 13 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 297,288,505
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 74,140,067
Price\Range: AUD 0.035
Discount Per Security: AUD 0.0021
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Aankondiging • Apr 16
Hillgrove Resources Limited to Report Q1, 2025 Results on Apr 29, 2025 Hillgrove Resources Limited announced that they will report Q1, 2025 results Pre-Market on Apr 29, 2025 Aankondiging • Apr 08
Hillgrove Resources Limited Confirms Production Guidance for the Year 2025 Hillgrove Resources Limited confirmed production guidance for the year 2025. The Company confirms that it remains on track for its 2025 copper production guidance of 12,000 to 14,000 tonnes. Aankondiging • Apr 05
Hillgrove Resources Limited, Annual General Meeting, May 06, 2025 Hillgrove Resources Limited, Annual General Meeting, May 06, 2025, at 09:30 Cen. Australia Standard Time. Location: hlb mann judd, level 1 169 fullarton road, dulwich sa 5065 Australia Aankondiging • Jan 16
Hillgrove Resources Limited to Report Q4, 2024 Results on Jan 21, 2025 Hillgrove Resources Limited announced that they will report Q4, 2024 results Pre-Market on Jan 21, 2025 Aankondiging • Nov 29
Hillgrove Resources Limited Announces the Appointment of Jake Van Der Hoek as Joint Company Secretary Hillgrove Resources Limited announced the appointment of Jake van der Hoek as Joint Company Secretary, effective immediately. Mr. van der Hoek will also be the person appointed under Listing Rule 12.6 to be responsible for communication with ASX in relation to ASX Listing Rule
matters. Mr. van der Hoek is a Director with HLB Mann Judd. With nearly a decade in the financial services industry, Mr. van der Hoek has extensive experience in company secretarial duties, ASX Listing Rule requirements, corporate transactions, as well as strong corporate governance knowledge. Mr. van der Hoek holds a Graduate Diploma of Applied Corporate Governance and Risk Management, from the Governance Institute of Australia. Aankondiging • Oct 21
Hillgrove Resources Limited to Report Q3, 2024 Results on Oct 23, 2024 Hillgrove Resources Limited announced that they will report Q3, 2024 results Pre-Market on Oct 23, 2024 New Risk • Aug 31
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$36m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$36m). Shareholders have been diluted in the past year (9.6% increase in shares outstanding). Market cap is less than US$100m (AU$111.1m market cap, or US$75.2m). New Risk • Jun 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$150.9m (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (9.6% increase in shares outstanding). Market cap is less than US$100m (AU$150.9m market cap, or US$100.0m). Aankondiging • May 01
Hillgrove Resources Limited, Annual General Meeting, May 31, 2025 Hillgrove Resources Limited, Annual General Meeting, May 31, 2025, at 09:31 AUS Central Standard Time. Location: Adelaide Town Hall, David Spence Room, 128 King William Street, Adelaide, SA, 5000 Adelaide Australia Agenda: To receive and consider the Company's financial statements for the 12 months ended 31 December 2023 and the related reports of the Directors and auditor; to Remuneration Report ; to Election of Director; to Re-election of Director Retiring By Rotation; to Adoption of issue of securities under the Option and Performance Rights Plan ; to Approval of Managing Director's Long Term Incentive; to Approval for the Issue of Options to Roger Higgins; to Ratification of Previous Issue of Shares under a Placement; to Ratification of Previous Issue of Shares to Free point under a Placement; to Ratification of Previous Issue of Options Under a Mandate. Aankondiging • Feb 28
Hillgrove Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Hillgrove Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 133,376,994
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,289,673
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Transaction Features: Subsequent Direct Listing New Risk • Feb 27
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$32m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m (AU$779k revenue, or US$510k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$32m). Market cap is less than US$100m (AU$114.7m market cap, or US$75.1m). Recent Insider Transactions • Feb 27
Non Executive Director recently bought AU$73k worth of stock On the 26th of February, Roger Higgins bought around 1m shares on-market at roughly AU$0.061 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. New Risk • Jun 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$97.5m market cap, or US$65.1m). Aankondiging • Jun 06
Hillgrove Resources Limited Appoints Dr. Roger John Higgins as A Non-Executive Director Hillgrove Resources Limited announced the appointment of Dr. Roger John Higgins as a non-executive director of the company. Dr. Higgins has over 50 years of experience and deep working experience leading mining companies and operations, which includes being a former Managing Director of Ok Tedi Mining Limited in Papua New Guinea and Senior Vice President, Copper at Canadian metals and mining company, Teck Resources Limited. Prior to this, he was Vice President and Chief Operating Officer with BHP Billiton Base Metals Customer Sector Group working in Australia and also held senior positions with BHP Billiton in Chile. He holds the position of Adjunct Professor with the Sustainable Minerals Institute, University of Queensland. In addition to this, Dr. Higgins has significant governance expertise, which includes being a current Non-Executive Director of Worley Limited and Newcrest Mining Limited. He was also recently the Chairman of Demetallica Limited, prior to its takeover by AIC Mines Limited. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Chairman Derek Carter was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. CEO, MD & Executive Director Lachlan Wallace is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Oct 30
Insider recently sold AU$169k worth of stock On the 28th of October, Susan Munro sold around 3m shares on-market at roughly AU$0.05 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$51k more than they bought in the last 12 months. 
