The Board of
The sale was subject to the satisfaction of a number of conditions which needed to be satisfied within specified timeframes. Several of those conditions remain unsatisfied.
After a period of extensive negotiations, Hillgrove and AGL have mutually agreed to terminate the PHES Project Agreement and associated project documents and effect a clean break without any further obligations on either party.
Since signing the Project Agreement, Hillgrove has conducted work on an underground mining project below the
The resource estimate is constrained by the extent of the drilling and not by the geology, in both the along strike and down dip directions. In addition, it does not include West Kavanagh which drove the open pit optimisation. The Board has now approved an additional drilling programme to test West Kavanagh and strike extensions.
As announced
As Hillgrove is no longer bound by the PHES restrictions it will now progress the approved additional drilling programme, mine design, optimisation and feasibility studies for an underground mining project beneath the
Contact:
Tel: +61 (0)8 7070 1698
(C) 2020 Electronic News Publishing, source