Latest news with #RonHeeks
Sydney Morning Herald
a day ago
- 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
a day ago
- 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.
The Age
27-06-2025
- Business
- The Age
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.
The Age
26-05-2025
- Business
- The Age
Larvotto unearths new drill targets at flagship NSW gold project
A geophysical survey at Larvotto Resources' Hillgrove antimony-gold project in New South Wales has unearthed a series of promising new drill targets beneath and along strike of known mineralisation at the company's Clarks Gully prospect. Larvotto says its gradient-array induced polarisation (IP) and resistivity survey hit the mark, lighting up zones that were historically rich in antimony and gold. The results back the company's geological model and give a clear green light for it to chase new, low-cost mineral discoveries across the project. Fender Geophysics ran the IP survey, which picked up strong chargeability and resistivity signals exactly where Larvotto had already found mineralisation, stacking the odds in Larvotto's favour of finding further lookalikes. The best new targets sit right under the old Clarks Gully pit and extend to the north, setting the stage for some exciting follow-up drilling. The IP technique, which measures how the ground resists and stores electrical charge, is especially suited to Hillgrove, where mineralisation is tightly linked to sulphide-rich and silica-altered rocks. Both rock types appear to stand out like a sore thumb in the IP data. 'The IP survey demonstrates the opportunity to use it as a cost-effective exploration tool across the broader Hillgrove Project area.' Larvotto Resources managing director Ron Heeks Larvotto Resources managing director Ron Heeks said: 'The IP survey has delivered an important validation of our geological model at Clarks Gully with strong correlation between our known mineralisation and the high chargeability and resistivity responses. It not only confirms the continuity of the NW-SE trending system and associated splays but also demonstrates the opportunity to use IP as a cost-effective exploration tool across the broader Hillgrove Project area.' Larvotto now plans to fast-track a second phase of geophysics, this time deploying dipole-dipole arrays to build a 3D model of the mineralised system and test the depth extent of the anomalies. This data will feed directly into the company's next drilling program to zero in on new zones of antimony-gold mineralisation at Clarks Gully. It will also give the company scope to widen its line of sight on fresh targets across the wider Hillgrove project. At the same time, the company is gearing up for more geophysical surveys to sterilise the grounds under its planned mine infrastructure area. This will allow Larvotto to weave exploration into future development planning and reduce the risk of flicking the switch to production.
