Hillgrove Resources Limited (HLGVF) Q4 2025 Earnings Call January 21, 2026 8:00 PM EST

Company Participants

Robert Fulker - MD, CEO & Director Luke Anderson - CFO & Joint Company Secretary

Presentation

Unknown Executive

Good morning, everyone. This is [ Jane Brampton ], Investor Relations at Hillgrove Resources. Welcome, and thank you for joining the Hillgrove Resources December 2025 Quarterly Update. [Operator Instructions]

I will now hand over to Mr. Bob Fulker, CEO and Managing Director at Hillgrove Resources.

Robert Fulker MD, CEO & Director

Thank you, Jane, and good morning, everyone. Thanks for joining the Hillgrove Resources 2025 December Quarterly Results Webinar. I’m joined on the call today by Luke Anderson, our CFO. And for those who have been on previous calls, we’re on a new platform today, and this is part of our investor engagement improvement program, which includes easy access to up-to-date information and releases.

2025 year of disciplined delivery – was a year of disciplined delivery. The copper production of 11,315 tonnes landed within our production guidance range of 11,000 to 11,500 tonnes. All-in costs for the year came in at USD 4.29 per pound, positioned at the lower end of our 2025 cost guidance range. Operating mine cash flow for the December quarter was back up to $12.7 million, with a full year operating cash flow at AUD 35.8 million.

During 2025, we invested $21 million in major capital and $20.5 million in sustaining capital to increase the Kanmantoo’s mining footprint through the early development of Nugent decline and increasing the Kavanagh decline advance rates. These are the first steps to increase our mining rate up to the 1.8 million tonnes per year during 2026. More importantly, it gives us the ability to increase our copper production up to our new guidance, which has a top end range of 14,000 tonnes of