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Hillgrove Resources Limited (HGO)

Hillgrove Resources Limited (HGO)

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General Information
Company Name: Hillgrove Gold Limited
Stock Code: HGO
Website: www.hillgroveresources.com.au
Market Cap ($M): 185
Equiv. Shares (M): 341

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.385 $ 0.390 $ 0.390 $ 0.380 $ 0.385 968,043 0%

Market Statistics
% of Market: 0.0000
% of Sector: 0.0312
Sector: Materials
Industry Group: Materials
Industry: Metals & Mining

Company Overview
Company Overview
Hillsgrove Resources (HGO) is an exploration company, mainly exploring for copper, gold and natural gas. HGO’s main projects are its gold and copper projects at the Kanmantoo Copper Project in South Australia. The company also holds a 32.5% interest in the Gunnedah Gas Project in NSW.
Company History
The company was listed on the ASX on 22 July 1994.
Differentiating Factor
The Gunnedah Gas Project contains one of Australia's largest on-shore accumulations of natural gas. Further development may lead to opportunities to supply gas into Newcastle, Sydney and Wollongong.
Major Customers & Competitors
In the Coal Bed Methane (CBM) sector, HGO has to compete against established producers such as the Oil Company of Australia, Santos and Tipperary. Its customers include both industrial and domestic households in Australia.<br/><br/>Competitors in the field of gold and copper exploration include Newman Mining and Midas Resources. Amongst its potential customers are the industrial sector, wholesalers and retailers.

Financial Summary
Year to Jan
 NPAT
Rep $M		 NPAT1
Adj $M		 EPS
c		 EPS chg
%		 PER
x		 PER rel
All Ords x		 PER rel
Sector x		 DPS
c		 Yield
%		 Franking
%		 ROE
%
2004A 37.0 (0.7) 46.5 n/a 0.8 n/a n/a 0.0 0.0 0 -44.9
2005A (0.9) (0.9) (0.8) n/a (49.4) n/a n/a 0.0 0.0 0 -13.4
2006A (1.1) (1.1) (0.7) n/a (58.3) n/a n/a 0.0 0.0 0 -7.9
2007A 10.8 (1.6) 4.9 n/a 7.9 n/a n/a 0.0 0.0 0 -6.1
2008A (4.9) (7.6) (1.9) n/a (20.3) n/a n/a 0.0 0.0 0 -16.4
2009A 11.3 (15.7) 3.0 n/a 12.9 n/a n/a 0.0 0.0 0 -22.7
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.

Peer Comparison
P/E (x) EPS Change (%) Dividend Yield (%)
Company Code Last Price Mkt Cap 07A 08F 07A 08F 07A 08F
BHP Billiton Limited BHP $42.85 $240,174M 15.6233 17.2899 -8.7477 -9.6393 2.7293 2.3375
Rio Tinto RIO $75.96 $148,722M 18.4997 14.7563 -49.7407 25.3676 0.6582 1.5233
Newcrest Mining NCM $34.21 $16,552M 32.8119 23.1376 -21.9587 41.8122 0.4385 0.5554
Fortescue Metals FMG $4.94 $14,961M 21.1291 50.1009 n/a -57.8269 0.0000 0.0000
Hillgrove Gold Limited HGO $0.39 $185M n/a n/a n/a n/a n/a n/a

Share Price Returns
3 Months (%) 6 Months (%) 12 Months (%)
HGO 5.4795 30.5085 208.0000
Sector 4.1860 9.7921 48.2815
Market 3.8720 5.1165 51.4365

Ratio Comparison
Year HGO Sector Market
P/E (x) FY07 7.9
FY08 (20.3)
Yield (%) FY07 0.0
FY08 0.0
EV/EBIT (x) FY07 (90.9)
FY08 (38.9)
EV/EBITDA (x) FY07 (94.1)
FY08 (39.6)

Directors
Name Position
D Archer MD
R Belz Director
J Quirke Director
J Gooding Indpendent Non-Executive Director
D Brown Chairman

Management
Name Position
D Archer Managing Director & CEO

Substantial Shareholders
Name % Holding
Sempra Group 14.2900
Royal Bank of Scotland 11.5900
Copulos Group 8.0900
Ras Al Khaimah 6.3000

Calendar of Events
Date Event
30-Nov-2009 Dividend Date Payable for Half Yearly Result (1c 100% franked)
16-Nov-2009 Dividend Record Date for Half Yearly Result (1c 100% franked)
10-Nov-2009 Dividend Ex-Dividend Date for Half Yearly Result (1c 100% franked)
06-Oct-2009 Dividend Date Payable for First Quarter Result (1c 100% franked)
22-Sep-2009 Dividend Record Date for First Quarter Result (1c 100% franked)


Data supplied by Aegis Equities Research Pty Limited (ACN 085 293 910).
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