Hillgrove Resources: Digging Deep
All images: Hillgrove Resources. BY ELIZABETH FABRI AFTER a near death experience in 2016, Hillgrove Resources is on the rise with company finances looking healthier and a number of growth opportunities on the horizon. Two years ago, Hillgrove Resources was in financial distress as it struggled to overcome cash shortfalls during a significant downturn in the copper market and underperformance at its flagship Kanmantoo mine. During the $70 million cutback of Kanmantoo the company’s financial position left it with no choice but to restructure costs, which included a 10 per cent wage deferral, and renegotiated contract and creditor arrangements. Hillgrove Resources Kanmantoo general manager Lachlan Wallace, who headed up the mine during this time, said 2016 was a challenging year. “We…