LRV - Larvotto Resources

Dona Ferentes said:

pay dirt... now here's the thing... I tipped this for April, but didn't for May comp.

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LRV is still going ...there have been no recent announcements since the 8th, so is an ASX Aware notice due?

They should be running up.
Hillgrove was a $20 mill asset that they bought for $8 mill.

Edit: Mt Isa copper asset report may appear soon.

(I do hold)

With Antimony prices steadily climbing it should bode well for LRV at Hillgrove.
Price holding up well today.

Boggo said:

With Antimony prices steadily climbing it should bode well for LRV at Hillgrove.
Price holding up well today.

Hillgrove - Larvotto Resources Limited

Location: New South Wales Development Stage: Pre-development Project Area: 254 km2 With a Mineral Resource Estimate of 1.7Moz gold equivalent (AuEq) @ 7.4 g/t AuEq, the strategic acquisition of Hillgrove has transformed Larvotto Resources from explorer to developer. LOCATION Hillgrove is...

www.larvottoresources.com

View attachment 177832

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,.... there seems to have been a nice run for Antimony, assuming it's the same pricing fob China. From the investor presentation out last March:
► World top 10 antimony deposit – Australia’s largest antimony deposit. Current price circa A$20,000/t

Boggo said:

With Antimony prices steadily climbing it should bode well for LRV at Hillgrove.

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my pick for June monthly comp. Anything that has a 50 per cent rise in its product should do something.

well, well, this is handy for the June comp.

.

Highlights
• An Exploration Target has been delineated at the Hillgrove project with potential mineralisation located directly below areas of the current mineral resources.
• Larvotto’s exploration strategy remains focused on delivering value through near-term resource growth within the Metz and Eleanora-Garibaldi areas
• Further, additional exploration areas are not yet included in this Exploration Target estimateincluding Bakers Creek, which recently showed significant mineralisation at depth
.
Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the JORC Code 2012 Edition.

I just selected and posted LRV in the July Monthly competition without reading this thread.
My selection was based on the movement of the share price in recent months and the announcement to market on Friday and also the nice saucer showing in its chart.
Dona if you want to select this I am willing to change.

brerwallabi said:

I just selected and posted LRV in the July Monthly competition without reading this thread.

Dona if you want to select this I am willing to change.

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I thought long and hard about that ... but I'm bound by the iron clad rules of the competition and have already selected another.

Sharing the love, I call it

brerwallabi said:

I just selected and posted LRV in the July Monthly competition without reading this thread.
My selection was based on the movement of the share price in recent months and the announcement to market on Friday ....

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whereas, by the next Thursday.....
a trading halt, effective from the commencement of trading on Thursday 04 July 2024, for the purposes of considering, planning and executing a capital raising

Dona Ferentes said:

whereas, by the next Thursday.....
a trading halt, effective from the commencement of trading on Thursday 04 July 2024, for the purposes of considering, planning and executing a capital raising

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It’s wait and see, I don’t have money in this.
Their story is a buy, maybe it won’t be too bad.
Hopefully no big discount for holders.

money is in ...
$5 MILLION EQUITY RAISING
Firm commitments to fund Australia’s next Gold-Antimony producer

Highlights
• Single tranche Placement of 47.6 million shares to raise $5 million (before costs) at $0.105 per fully paid ordinary shares, and was strongly supported by existing and new domestic and offshore sophisticated and institutional investors. The Company will also be offering a Share Purchase Plan to raise up to $1 million at the same price as the Placement, being $0.105 per fully paid ordinary share.

• Larvotto Resources is now well-funded to continue development and exploration at its flagship Hillgrove gold-antimony project (100%-owned) in New South Wales, Australia
• Proceeds from the Placement will be focused on further development of the Hillgrove project including near-term completion of the Pre-Feasibility Study as well as exploration drilling to follow-up high-grade intersections, such as the recently announced 31m at 65.8g/t Au at Bakers Creek, outside the existing Hillgrove JORC resource of 1.4Moz AuEq at 6.1g/t AuEq

always good to see shareholder interest... now 11.5c
.
raised $1,000,000 (before costs) in the Share Purchase Plan that closed on 19 July 2024. The SPP was oversubscribed by 41% and a pro-rata scale back on subscriptions is being completed and refunds will be processed upon allotment. The Company will issue 9,523,767 New Shares at an issue price of $0.105 per share.

The funds raised under the Placement and the Plan will be used toward
- Completion of Pre Feasibility Study (Hillgrove Project)
- RC drill program at Clarks Gully (Hillgrove Project)
- Diamond drill program at Bakers Creek (Hillgrove Project)
- Mt Isa Project drilling
- Working capital

Quarterly filed at 5:03pm on 31/07 - doesn't seem to have hurt as it's up to 14c today...

Highlights
• New Exploration Target at Hillgrove Project between ~670,000 and 1.08Moz AuEq, ranging between ~7.4X - 9.46g/t AuEq
• Exploration strategy remains focused on delivering value through near-term resource growth within the Metz and Eleanora-Garibaldi areas
• Exceptionally high-grade diamond drilling results reported from Bakers Creek
• 5,250m RC drilling program has commenced at Clarks Gully deposit (post-quarter)
• The PFS is expected to be released in the September 2024 quarter
• $2M placement at $0.075 per share completed
• Post quarter end, $5M placement at $0.105 completed and an oversubscribed $1M SPP completed on same terms.

Hillgrove Gold-Antimony Project Pre-Feasibility Study including Maiden Ore Reserve establishing Concurrent Gold and Antimony Development in NSW

Highlights
Key operational findings of the Pre-Feasibility Study include:
- CAPEX of $73M targeting >80koz AuEq annual production
- Maiden Ore Reserve - 606,000oz AuEq @ 6.0g/t AuEq
• Development largely de-risked due to extensive existing surface and underground infrastructure, and established permitting
- PFS robust financials (conservative commodity prices of US$2,000oz gold and US$15,000/t antimony) include:
• Over 600,000 AuEq oz projected production in current mine plan
• Significantly reduced time to first production
• Life of Mine gold AISC of <$900/oz for gold ounces
• Project payback <2 years (1 year at spot prices)
- NPV 8% (post-tax) of $157M and IRR 50%
- NPV 8% (post-tax) increases to $383M and IRR 114% using spot price
- Significant potential to increase mine life and grade through near-mine exploration
- Definitive Feasibility Study commences, targeting first ore by early 2026

Worth watching I think.

LRV Briefing

no thread on Antimony as it's deemed a minor metal , used in ammunition and batteries, fire-retardants, photovoltaic solar cells and military equipment. It's fair to say there is growing demand. It seems LRV is one of the few companies focusing on it so I'll drop this here.

Antimony prices gear up for new records on China export curbs​

Reuters

China’s decision to restrict exports of antimony from 15 September is likely to drive prices of the metal to new records, as buyers seek more material to stockpile, analysts and traders said on Thursday. Prices are already trading at all-time highs above $US22,000 a tonne, having roughly doubled since the start of the year due to a global deficit of the metal.
“Given we are still at record prices, it’s likely that prices will go even higher with this announcement,” said Chetan Soni at consultancy CRU, adding that prices could reach $US30,000 as buyers would be looking to secure material for future production or stockpiling.

China is the world’s largest antimony producer, accounting for 48 per cent of global supplies at 83,000 tons last year, according to the US Geological Survey.
It will impose export limits on antimony and related elements in the name of national security, China’s commerce ministry said, its latest move to restrict shipments of critical minerals where it is the dominant supplier.

This could widen the deficit in the antimony market, which consultancy Project Blue estimated at 10,000 tonnes in May.
“China has already been cutting down on metal exports as they are consuming it all domestically,” said Jack Bedder, co-founder of Project Blue.
European refineries of antimony trioxide have increased supply from Tajikistan, Vietnam and Myanmar to diversify from the Chinese feed, while India increased antimony ingot supplies to the United States, he said.

Another upsurge in antimony prices will reinforce the Western world’s reliance on China for critical minerals, which also include rare earths, gallium and germanium, exports of which are also restricted since last year. In those cases, exports quickly flatlined after export licence requirements were introduced, before rising again, a trend which could be seen with antimony exporters now needing to apply for a licence, CRU’s Soni said.

Other major producers of antimony include Myanmar, which accounted for 4600 tonnes last year, Turkey for 6000 tonnes and Tajikstan for 21,000 tonnes, according to USGS.

The tight market conditions are partly because of disruptions in supply from Russia due to sanctions imposed after Moscow invaded Ukraine in February 2022 and Russia’s lower domestic production. Russia produced 4,300 tons in 2023, data from USGS showed.
“There is no pipeline of supply to turn on,” said Christopher Ecclestone, a principal and mining strategist at Hallgarten & Company in London, adding that prices could easily climb above $US30,000 this year.

17c ... should've gone into Aug tip comp.

After yesterdays briefing I am not surprised that it is running and he didn't even mention the massive exploration area in Mt Isa.

Dona Ferentes said:

17c ... should've gone into Aug tip comp.

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22.5c ... reached 26.5c.. today's announcement:

Highlights
• China imposes export controls on antimony from 15 September, due to national security concerns
• Strategic reserves of antimony for solar panel, military and electronic uses deemed too low to allow further export of the metal
• No effect on requirement for importing antimony concentrate
• China’s announcement of export controls coincided with the release of Larvotto’s maiden gold-antimony Ore Reserve and positive PFS

LRV had run to 40c earlier last week and then bounced around up and down 30-40c , now holding at the upper end.