Hillgrove Resources Limited

Asian Activities Report for November 17, 2011 includes: Northern Star Resources Limited (ASX:NST) has discovered a potential gold bearing quartz lode immediately adjacent to its Paulsens gold mine in Western Australia; Hillgrove Resources Limited (ASX:HGO) has commenced production from a process plant at its Kanmantoo copper mine in South Australia; Dart Mining NL (ASX:DTM) says today that its Unicorn deposit is estimated to contain 38,000 tonnes of recoverable molybdenum, 58,000 tonnes of recoverable copper and 8.6 million ounces of recoverable silver; Mindoro Resources Limited (ASX:MDO) today announces the final results from drilling of the Southwest Breccia epithermal gold shoot at Lobo, the Philippines.

Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) announces that it has declared its takeover offer ("Offer") for North Queensland Metals Limited (ASX:NQM) ("NQM") to be unconditional. The Offer provides both the certainty of a substantial cash return to NQM shareholders as well as the opportunity to participate in the potential future value of the combined company.

The Board of Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) is pleased to announce that it has agreed to acquire a new SAG mill from Hillgrove Resources Limited (ASX:HGO) (PINK:HLGVF) for a cash price of A$6.95 million. The purchase includes: Outotec 3.6MW Grate Discharge SAG Mill with major spares: main electric motor: girth gear; gearbox; pinion and pinion bearings; and Russell (RME) 7-Axis Mill Re-lining Machine.

The Australian share market begins the week with a slightly stronger opening without being affected by a flat lead from Wall Street. In early trade, Gold and Financial stocks were positive after the opening bell.

Stirling Resources Limited (ASX:SRE) advises it has appointed Mr. Marty Adams as Managing Director.

The Australian market retreated yesterday, giving up most of the gains from previous trading session, while China signaled that the government there would not be a significant rise in the Chinese yuan in a short run. At the close, The benchmark S&P/ASX200 index ended 54.3 points, or 1.2 per cent lower, to 4558.3, while the broader All Ordinaries index was down 51.4 points, or 1.1 per cent, at 4581.3.

US stocks rose overnight as commodities prices jumped. Kraft Foods' US$16.7 billion takeover bid for Cadbury boosted the market confidence on a rebound in merger and acquisition activities, despite Kraft's offer was rejected.

Yesterday the Australian market posted a marginal rise as investors were cautious ahead of US jobs data in June. The benchmark S&P/ASX200 index was 3.3 points, or 0.09 per cent higher, at 3877.3 points, while the broader All Ordinaries index gained 2.9 points, or 0.07 per cent, to 3875.2 points.

Yesterday Australian shares fell after Wall Street plummeted on renewed banking fears. The benchmark S&P/ASX200 index plunged 2.4%, or 91.6 points, at 3677.4, while broad-market All Ordinaries index lost 2.4%, or 89.2 points, at 3633.1.

Yesterday the Australian share market was closed in thin trading. The benchmark S&P/ASX200 index ended down 26.8 points, or 0.7%, at 3687. The All Ordinaries index gained 16.8 points, 0.5%, to 3638.9. Market is expected to follow the US trends, but the rising oil and commodities prices may give resources sector a push.