Financial Data and Key Metrics Changes - The third quarter results showed significant improvement over the previous two quarters, with copper production just under 28 million pounds and adjusted EBITDA of CAD 62 million [4][5][12] - Total revenue for the quarter was CAD 174 million, a 50% increase quarter over quarter, driven by higher sales volume and strong copper pricing [12][13] - The average realized copper price was just shy of $4.50 per pound US, in line with the LME average [12] Business Line Data and Key Metrics Changes - Copper sales for the quarter were 26 million pounds, including 900,000 pounds of cathode, slightly below production due to shipment timing [12] - Molybdenum production increased to 560,000 pounds, reflecting higher moly grades [5] - Operating costs at Florence were CAD 8 million for the quarter, expected to increase as operations ramp up [15] Market Data and Key Metrics Changes - The COMEX price for copper has been trading at a premium to the LME, recently at about 4% premium or roughly $0.20 a pound [10] - The U.S. government plans to revisit tariffs in mid-next year, with potential tariffs on cathode increasing to 15% by the end of 2026 [10] Company Strategy and Development Direction - The company is focused on ramping up production at the Florence project, with expectations to produce copper early in the new year [8][9] - The company plans to advance work at the Yellowhead project, viewing it as an important long-term growth opportunity [11] - The recent equity offering has strengthened the balance sheet, allowing for additional working capital support ahead of the Florence ramp-up [11][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ramp-up at Florence and the potential for increased production next year [20] - The early results from the wellfield operations are positive, indicating a good start for the project [8][20] - The company is monitoring market dynamics closely, especially regarding potential future tariffs and their impact on copper pricing [10] Other Important Information - The company achieved substantial completion of the SXEW plant at Florence, marking a significant milestone [7][14] - The company ended the quarter with CAD 91 million in cash, positioning it well for future operations [15] Q&A Session Summary Question: Benefits of accelerating wellfield drilling - Management indicated that the key is to open additional wells to increase solution flows, which is crucial for ramp-up [18] Question: Production guidance for next year - Management refrained from providing specific production guidance but expressed optimism based on current conditions [20] Question: Milestones for declaring commercial production - Management stated that the focus will be on operating profit and cash flow rather than traditional metrics for declaring commercial production [26][28] Question: Accounting for revenues and costs - Revenue will be recognized once cathode is sold, and some costs will be capitalized until the plant is fully operational [29] Question: Status of initial capital spend - Management confirmed that the initial capital spend is effectively complete, with only minor commissioning costs expected in Q4 [30]

Anglo American signs an agreement with Chile’s state copper company Codelco to jointly develop their adjacent mines near Santiago in a bid to boost production without major investments https://t.co/UkpIue8b7I ...

Core Insights - Peru's copper production in June increased by 7.1% year-on-year, reaching 228,932 tons [1] - The Las Bambas mine, controlled by MMG, saw a production increase of 63.5% in June, while Chinalco's output more than doubled [1] - A decline in Las Bambas' production is expected in July due to a two-week blockade of a major road used for copper transportation, caused by protests from informal miners [1] - For the first six months of 2025, Peru's copper production is approximately 1.34 million tons, reflecting a year-on-year growth of 3.5% [1] - Peru ranks as the third-largest copper producer globally [1] Production Data - June's major metal production data from Peru is sourced from the Ministry of Energy and Mines [1]

Company Overview - Hillgrove's market capitalization is $99 million with shares priced at $0.038 as of July 22, 2025[9] - The company has $11 million in cash and an enterprise value of $88 million[9] - Hillgrove has $282 million in income tax losses carried forward as of December 31, 2024[9, 12] Production and Cost Metrics - Kanmantoo processed 669kt of ore with a grade of 0.88% in the first half of 2025[25] - Copper production reached 5,545 tonnes, and gold production was 1,285 ounces[25] - Payable copper sold amounted to 5,481 tonnes at an average realized price of A$14,232 per tonne[25] - C1 costs were A$4.68 per pound, and all-in costs excluding Nugent development were US$4.10 per pound[25] Growth and Exploration - The company plans approximately 20 km of drilling in 2025 targeting resource expansion[32] - Kanmantoo's 2024 Mineral Resources are 19.3Mt grading 0.77% Cu and 0.14g/t Au, containing 150kt Cu and 82koz Au, representing a 96% increase in contained copper compared to the 2022 MRE[31, 32] - The 2024 Maiden Ore Reserve is 2.8Mt grading 0.91% Cu and 0.15g/t Au, containing 26kt Cu and 14koz Au[31] Future Outlook - The company aims to achieve a 1.7-1.8Mtpa run rate in 2026 by accelerating the development of Nugent[21] - Nugent development is expected to reduce mining and processing unit costs by approximately 15-20%[23] - The company is on track to deliver 12-14kt Cu production with All-In Costs of US$3.40-3.90/lb for CY25[20]

Until the 1960s, America was the world’s biggest producer of copper. Donald Trump hopes to return to those glory days https://t.co/tAOh1wd56q ...