Sydney Mining Club Lunchtime Forum: Larvotto Resources to breathe ‘New Life’ into NSW’s Historic Hillgrove Mine
At their April Lunchtime Forum event, the Sydney Mining Club will host the Managing Director of Larvotto Resources, Ron Heeks.
Larvotto Resources (ASX: LRV)
Ron Heeks
Managing Director
Larvotto Resources is on the verge of becoming a world-leading Antimony producer. Its flagship Hillgrove deposit, which is about 20 kilometers from Armidale, has the world’s largest Resource and Reserve of Antinomy in Australia. It’s the eighth largest in the world.
This is a big deal at the moment given the uncertain geopolitical reality the world currently faces and severe effect this is having on supply. Antimony is a critical defence metal and fire retardant with 92% produced by China, Russia and Tajikistan. That’s why when China imposed export restrictions on Antinomy last September, the price of the metal skyrocketed by over 400%.
Larvotto Resources is one of the best placed companies in the world to capitalise on this opportunity. By this time next year, the Company will supply about 7% of the world’s Antimony. It has $200m of capital in place, including 15km of underground development and an established processing plant.
Critically, Larvotto will also produce gold at Hillgrove. Its current reserve is 600,000 ounces of gold, with a resource of 1.7moz at 7g/t gold equivalent. Recent exploration results have revealed further upside, with a best hit of 31m at 20g/t.
The market has responded kindly to Larvotto’s position. Over the last year, the Company’s share price has skyrocketed by over 1,100%, making it one of the best performing stocks on the ASX. At lunch, Sydney Mining Club members will get an exclusive insight into how Larvotto got to this point, and where they intend to go as production switches on.
