Larvotto Resources Limited
Larvotto Resources Limited is developing the 100%-owned Hillgrove Gold-Antimony-Tungsten Project in New South Wales -- Australia's largest antimony deposit (8th largest globally) and a historic mine site with a fully operational processing plant and 15km of underground development already in place, being fast-tracked from acquisition (Dec 2023) to production in roughly 2.5 years. The Board approved a Final Investment Decision on 31 Jul 2025 (A$140M approved capex), fully funded via a US$105 million Senior Secured Bond and A$60 million equity raise. Commissioning began in early Aug 2026 with first production targeted for end of Aug 2026, positioning Larvotto as a major new Western supplier of antimony -- a critical mineral of increasing strategic importance amid tightening global supply.
Notable vs. Peers
- All-in sustaining cost of $310/oz is 83% lower than the peer producer average of $1,824/oz.
- Trading within 2% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
3 of 5 reachedMilestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Jurisdiction (40%)9/10
New South Wales: Fraser PPI 2025 is 73.26 of 100 (rank 37 of 68), which maps to 9 on this site's scale. The Hillgrove gold-antimony project is near Armidale in New South Wales, a Tier-1, established mining jurisdiction.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Hillgrove Gold-Antimony Project.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Hill End (Reward) (Vertex Minerals Limited), 360 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:0/10
Nearest producing mine: Hill End (Reward) (Vertex Minerals Limited), 360 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:7/10
Stage: Construction
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Financial Officer of Larvotto Resources Limited.
Managing Director of Larvotto Resources Limited, leading the company through Final Investment Decision (31 Jul 2025) and into commissioning of the Hillgrove Gold-Antimony Project.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No producer, strategic investor, or meaningfully-sized specialist fund holds a disclosed stake. Three insiders -- the CEO, Chairman, and a director -- all bought stock on the open market on the same day, with no offsetting selling found.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Larvotto Resources owns 100% of the Hillgrove gold-antimony-tungsten project, about 23 km east of Armidale in New South Wales, a historic mine site with an existing processing plant and underground development that it acquired in December 2023. The board made a final investment decision on 31 July 2025, funded by a US$105M senior secured bond and an equity raise, and first gold and antimony production began on 31 August 2026; no concentrate shipment or sale had been confirmed as of September 2026. Hillgrove holds 678,000 oz of contained gold in measured and indicated resources (70,000 oz measured and 608,000 oz indicated) plus 457,000 oz inferred, in an estimate effective 6 May 2025, alongside 66 kt of contained antimony. The May 2025 definitive feasibility study shows an after-tax NPV8% of US$182M (AUD 280M) and a 48% IRR at US$2,400/oz gold and US$25,000/t antimony over an 8-year mine life, with an all-in sustaining cost of US$310/oz (AUD 477/oz) net of antimony by-product credits.