Larvotto Resources managing director Ron Heeks said: “The completion of the definitive feasibility study (DFS) for the Hillgrove antimony-gold project within 18 months since Larvotto acquired the project marks a major milestone. The project has a long way to go to reach its full potential. This DFS is stage one in that process. Larvotto is focused on unlocking additional value while progressing permitting and project financing, and we look forward to bringing a critical minerals project into production at a time of exceptional market opportunity.”
As the timeline for first production nears, Larvotto is shifting gears fast at Hillgrove and pushing hard on all fronts by ramping up a surface drilling program, advancing operational readiness and progressing talks with state, federal and international governments.
Plans for the financing of pre-production capital expenditure is well in hand. The company has already locked in a seven-year offtake agreement and $6M prepayment facility with trading giant Wogen Resources. Larvotto also recently completed a $30M capital raising and is sitting pretty on $35M in the bank at the end of the March quarter.
Financing talks for the balance of the company’s funding requirements are heating up. Larvotto has so far received seven indicative term sheets covering most of the development capital and expects to finalise an agreement in the coming months, given it now has a DFS in hand.
High-grade stibnite, the principal ore mineral of antimony, retrieved from Larvotto Resources’ Hillgrove mine in New South Wales.
Meanwhile, Larvotto is zeroing in on some serious exploration upside at Hillgrove with fresh targets and fiery assays lighting the way. The untested Garibaldi–Brackins Spur corridor is firmly in the company’s sights as a potential game-changer. It offers a wide-open shot at boosting resources beyond the current mine plan.
At the company’s Bakers Creek prospect, a recent drilling program has come in with rich grades near existing underground workings. A standout hit delivered 0.6 metres at a jaw-dropping 183g/t gold equivalent from 493m, alongside 8.3m at 10.39g/t from 408.7m.
These results follow a previous monster intercept of 31m grading 65.8g/t, confirming Bakers Creek as a prime candidate to feed high-grade, low-cost ore into early production.
Over at its Eleanora–Garibaldi project, meanwhile, Larvotto’s rigs hit more paydirt, extending known mineralisation by 120m down-dip. The best hits include 2.9m at 20.13g/t gold equivalent and 5m at 8.38g/t within a broader 20.7m zone at 3.49g/t. Garibaldi’s resource already sits at 2.35Mt at 6.6g/t gold equivalent.
In a nutshell, a substantial chunk of the Hillgrove resource remains unconverted to reserves, offering a clear opportunity for mine life expansion.
Backed by strong early financial support and a fast-moving strategy, Larvotto looks to be setting the pace for a swift transition from explorer to producer – while still leaving plenty of room for a bigger prize in the ground.
Larvotto bought Hillgrove for a mere $8m just 18 months ago. In a world hungry for gold and desperate for non-Chinese antimony, the project appears locked and loaded to deliver a huge $694M payback for Larvotto and its shareholders.
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