Larvotto Resources is predicting production at its Hillgrove antimony-gold project will begin in the second quarter of 2026.
Having completed financing for the project, with a two-tranche share placement worth $60 million, the company is now focused on construction and commissioning.
The share placement will see 88.2 million new fully-paid shares in the company, priced at $0.68 per share, issued to shareholders. This represents a 6.2 per cent discount on the last closing price on July 22.
The first tranche of shares (61.6 million) was made available to investors under Larvotto’s available placement capacity. The second tranche, consisting of 26.6 million shares (around 30 per cent of the total), is subject to the approval of existing shareholders through an extraordinary general meeting, expected to take place in late August or early September.
Existing shareholders can also top up their investment through a separate share purchase plan offering shares at the same price.
Larvotto managing director Ron Heeks said the fully subscribed placement was a “tremendous” result for Larvotto Resources and the company’s Hillgrove project.
“The Hillgrove project is the only new source of western antimony supply expected to come online in the next four years,” he said. “We are delighted that investors have responded to this position and our progress at Hillgrove to date with such high demand for this placement.
“Now, with the financing stage for Hillgrove addressed, our sole attention turns to construction and commissioning of this unique brownfield opportunity.”
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