Latest news with #Larvotto
The Age
5 days ago
- Business
- The Age
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.'
Sydney Morning Herald
5 days ago
- Business
- Sydney Morning Herald
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.'
Sydney Morning Herald
21-07-2025
- Business
- Sydney Morning Herald
Larvotto plumps finances with US$105M for NSW gold/antimony mine
Larvotto Resources has raised US$105 million to help restart its Hillgrove gold and antimony project in New South Wales, thanks to a fully subscribed senior secured bond issue backed by major Australian and overseas investors. Larvotto says the issue highlights the compelling development case for Hillgrove and its potentially pivotal role in supplying critical antimony to global markets. Investors in the bond issue include leading natural resources and renewable energy companies. The company will invest the new proceeds, its existing cash and other equity to restart its Hillgrove project. Larvotto expects to settle the issue on August 1 and to start drawing on the funds in October. In June, Larvotto received NSW Department of Planning, Housing and Infrastructure approval for its Modification 6 application to upgrade processing infrastructure and underground mining access at the historic mine. 'For the company to be in a position to undertake a bond issue is a strong endorsement of the project and its projected returns.' Larvotto Resources managing director Ron Heeks The critical regulatory milestone enables the company to restart mining and processing activities, has bolstered the company's confidence in final-stage financing and paves the way for first production in 2026. Funds will be allocated to critical development activities, including the transition to dry-stacked tailings, subject to departmental approval. Larvotto has 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. Larvotto Resources managing director Ron Heeks said: 'The bond completion marks another milestone for Larvotto Resources and its Hillgrove project. Completed well within the expected project finance timeline, for the company to be in a position to undertake a bond issue is a strong endorsement of the project and its projected returns.'
The Age
21-07-2025
- Business
- The Age
Larvotto plumps finances with US$105M for NSW gold/antimony mine
Larvotto Resources has raised US$105 million to help restart its Hillgrove gold and antimony project in New South Wales, thanks to a fully subscribed senior secured bond issue backed by major Australian and overseas investors. Larvotto says the issue highlights the compelling development case for Hillgrove and its potentially pivotal role in supplying critical antimony to global markets. Investors in the bond issue include leading natural resources and renewable energy companies. The company will invest the new proceeds, its existing cash and other equity to restart its Hillgrove project. Larvotto expects to settle the issue on August 1 and to start drawing on the funds in October. In June, Larvotto received NSW Department of Planning, Housing and Infrastructure approval for its Modification 6 application to upgrade processing infrastructure and underground mining access at the historic mine. 'For the company to be in a position to undertake a bond issue is a strong endorsement of the project and its projected returns.' Larvotto Resources managing director Ron Heeks The critical regulatory milestone enables the company to restart mining and processing activities, has bolstered the company's confidence in final-stage financing and paves the way for first production in 2026. Funds will be allocated to critical development activities, including the transition to dry-stacked tailings, subject to departmental approval. Larvotto has 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. Larvotto Resources managing director Ron Heeks said: 'The bond completion marks another milestone for Larvotto Resources and its Hillgrove project. Completed well within the expected project finance timeline, for the company to be in a position to undertake a bond issue is a strong endorsement of the project and its projected returns.'
Sydney Morning Herald
27-06-2025
- Business
- Sydney Morning Herald
Larvotto gets green light to restart NSW Hillgrove gold-antimony mine
Larvotto Resources has bagged a big win for its flagship Hillgrove gold and antimony project in New South Wales after the State Government signed off on a crucial application to allow the company to restart mining and processing at the historic site. 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.
