Highfield Resources retains buy recommendation from Foster Stockbroking

Highfield Resources Ltd (ASX:HFR) has retained its buy recommendation from Foster Stockbroking as it prepares to move towards the construction and development of the Muga Project in Spain.

While Highfield’s quarterly revealed nothing materially new, the company raised $13 million in December 2022, boosting its cash balance to $19 million as at 31 December 2022.

This allows Highfield to continue progressing relatively lower expenditure early works at Muga and to focus sharply on both finalising strategic process/funding and obtaining the Sanguesa Town Hall licence.

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