ASX Round-Up: Highlighting Troy Resources and Hillgrove Resources

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.

The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Troy Resources (ASX:TRY) and Hillgrove Resources (ASX:HGO).

Junior gold producer Troy Resources has operations in Guyana, Brazil and Argentina. The company maintains 100-percent ownership of its projects, which range from operational to development stage. Troy’s Andorinhas mine in Brazil is currently operational and has an average recovery rate of 92 percent. Meanwhile, its Argentinian Casposo mine produces gold and silver that is processed on site and then sent to Canada for further processing.

Troy’s newest project is the Karouni project in Guyana. Troy is developing the project and has completed a preliminary economic assessment( PEA) for it. According to the PEA, Karouni will operate for seven years and will produce an average of 90,000 ounces of gold annually.

Australia-based Hillgrove Resources has three major projects: the Kanmantoo copper mine in Southern Australia and two gold projects in Indonesia. The Indonesian projects are still in the exploration stage, but Kanmantoo has been in production since 2011. The company believes that further exploration at Kanmantoo will reveal additional deposits of gold and silver. At the moment it has a defined mineral resource of 31.3 million tonnes.

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