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Hillgrove sells surplus SAG mill to Conquest

Ralph Wragg Australian Business News

August 10,2010

Sydney - Monday - August 9: (RWE Aust Business News) - Hillgrove Resources (ASX:HGO) will sell its surplus SAG mill to Conquest Mining (ASX:CQT) for a cash price of $6.95 million.
All equipment is new, complete and in original packing.
The mill shell is still at Dorbyl works in South Africa and all other items are warehoused at the Kanmantoo project in South Australia.
The SAG mill and ancillary equipment were ordered as long lead items prior to Hillgrove's purchase of the second hand process plant and associated equipment of the Lennard Shelf Pillara mine.
Following that purchase and a full assessment of both mills, Hillgrove determined that retaining the larger Lennard Shelf SAG mill provided the Kanmantoo copper mines project with upscale opportunities for additional discoveries and the new mill became surplus to requirements.
The sale is expected to be completed by mid September 2010.