Larvotto gets green light to restart NSW Hillgrove gold-antimony mine
The long-awaited green light from the Department of Planning, Housing and Infrastructure for its Modification 6 development application is a significant step, which catapults the company into final-stage financing discussions and unlocks a clear runway to production by 2026.
The project now appears primed to emerge as a globally strategic source of antimony - a critical mineral used in flame retardants, batteries and military applications - alongside a swag of gold.
The regulator's tick covers a broad range of development activities, including critical infrastructure upgrades and renewed access to underground workings, which are key to bringing the once-dormant operation roaring back to life.
'We're now entering final-stage financing discussions with confidence, backed by an approved, world-class project.'
Larvotto Resources managing director Ron Heeks
The new approvals also support the company's plans to roll out a new waste storage process by allowing for an increased tailings height as it shifts to dry-stacking, which Larvotto sees as a crucial step for the transition.
Larvotto opted for dry-stacked tailings at Hillgrove due to its environmental, engineering and cost advantages and because it is particularly suited to the site's steep terrain and existing infrastructure.
The process uses a filter press to reduce water content below 9 per cent to produce dry material, which is then compacted into a lined containment area. When the stack reaches its height limit, it's capped with topsoil to stabilise the structure and support revegetation.
The safer, more environmentally friendly process gained traction worldwide following the 2015 Mariana tailings dam disaster in Brazil.

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Sydney Morning Herald
15 hours ago
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Larvotto locks in $60 million to fire up Hillgrove gold play
Larvotto Resources has nailed down a pivotal $60 million equity raise to restart its Hillgrove antimony-gold mine in New South Wales, positioning the company to tap into soaring demand for critical minerals by mid-2026. The cash injection was secured via a two-tranche placement to Australian and international investors priced at 68 cents a share - a modest 6.2 per cent discount to Larvotto's last traded price. The offer was swamped with demand, with the board now launching a $5 million share purchase plan at the same price for existing shareholders. The placement comes hot on the heels of Larvotto's US$105 million (A$159.6 million) senior secured bond issue, completed just days earlier, meaning the Hillgrove project is now fully funded through to production with a 70:30 debt-to-equity split. According to the company, that structure comfortably surpasses its expectations and reflects the project's high-margin, fast-payback nature. 'With the financing stage for Hillgrove addressed, our sole attention turns to construction and commissioning of this unique brownfield opportunity.' Larvotto Resources managing director Ron Heeks The $60 million will be used to fund pre-production capital expenditure, early site works and operational readiness teams at Hillgrove, alongside ongoing exploration to expand the resource base. With all boxes ticked on the financing front, Larvotto's full attention now turns to construction and commissioning. Larvotto Resources managing director Ron Heeks said: 'The Hillgrove project is the only new source of western antimony supply expected to come online in the next four years. Now, with the financing stage for Hillgrove addressed, our sole attention turns to construction and commissioning of this unique brownfield opportunity. To be operating such a high IRR project within Australia and to be within 12 months of first production at a time of particularly strong interest in new critical mineral sources is very exciting.'


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