Hillgrove Project Advances Towards Production
Larvotto Resources has achieved a significant marker in its push to recommission the Hillgrove antimony-gold mine in New South Wales, reporting the first haul of ore to a surface stockpile. This development aligns with the company's timeline for resuming underground operations and refurbishing the processing plant, with 'commissioning planned for August'. The company frames this as a 'major milestone' in returning the site to production.
The extraction of the first ore signifies a tangible step forward in Larvotto's strategy to reactivate the Hillgrove operation, aiming for production commencement within the year.
Underground Work Progresses Amidst Site Preparations
Concurrently, extensive groundwork continues above and below the surface. Mining contractor PYBAR has reportedly advanced 170 metres underground and rehabilitated 1.9 kilometres of mine drives. Larvotto states that 20,000 rock bolts have been installed, ostensibly to secure the workings for operational capacity.
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Recent drilling efforts at the Metz mining centre, specifically at Midas Gully, have indicated continued 'high-grade gold-antimony-tungsten mineralisation' that extends along the strike of areas slated for early mining phases.
Financial Underpinnings and Strategic Importance
Larvotto secured substantial financing, obtaining US$105 million via a bond issue in July 2025. This capital, alongside existing funds and equity, is earmarked for the Hillgrove restart. Investors in this bond offering reportedly include entities in the natural resources and renewable energy sectors. The company is also navigating a 'Modification 5' approval process, which seeks to double the mine's processing capacity to 500,000 tonnes per year and permit 'dry-stack tails storage'.
The strategic significance of antimony, a metalloid crucial for applications such as flame retardants, batteries, and defence technologies, is frequently cited as a key driver for the Hillgrove project. Larvotto positions the mine as a potential near-term, Western-based source of this 'critical mineral'.
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Regulatory Milestones and Project Scope
In June 2025, Larvotto received regulatory approval from the NSW Government to restart mining and processing at Hillgrove. This consent, stemming from a crucial application, has apparently accelerated the company's development schedule. The mine is situated 23 kilometres east of Armidale, NSW, near established infrastructure.
The Hillgrove project has an estimated 'Exploration Target' of 670,000 to 1.08 million ounces of gold equivalent (AuEq), with grades between 7.4 and 9.46 g/t AuEq. This target is situated below current resources and historic workings. Historically, the site has produced over 730,000 ounces of gold and more than 50,000 tonnes of antimony. Larvotto's plans also include a 'Modification 6' approval, which grants continued mining and processing rights.
The potential to increase processing capacity and adopt improved tailings management techniques are central to Larvotto's long-term outlook for the project.
Background Context
The Hillgrove mine has a recorded history of production, with its antimony deposit estimated to contain 90,000 tonnes. Larvotto's acquisition transformed the company from an explorer to a projected near-term producer. The project's development is framed against a backdrop of increasing demand for antimony outside of China, particularly in 'politically stable jurisdictions'. The company has conducted multiple drilling phases to define mineralisation, test extensions, and verify reserves. Reports from June 2025 indicated the mine was on track for 2026 production.
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