Larvotto Resources: Tapping into Gold and Antimony for Global Growth
How Larvotto Resources is Poised to Become a Major Player in Both Gold and Antimony Markets
Editorial Team (ET)May 6, 2025
In today’s rapidly shifting energy landscape, companies that tap into critical minerals are becoming more crucial than ever. Larvotto Resources (ASX: LRV) is positioning itself as a key player in this dynamic market. With a focus on gold and antimony at its Hillgrove project in New South Wales, Larvotto is not only advancing one of Australia’s highest-grade gold mines but also playing a significant role in meeting the increasing global demand for antimony. But what exactly makes Larvotto a company to watch, and why is antimony so important?
Let’s dive into the details of how this company is making waves in the mining industry.
Overview of Larvotto Resources
Larvotto Resources (ASX: LRV) has only been around for approximately two and a half years. In that short span, it has quickly established a market cap of just over AUD 100 million. With the Hillgrove project as its crown jewel, Larvotto is capitalizing on the dual benefit of mining both gold and antimony—an increasingly critical mineral.
The Hillgrove project is not just another gold mine. With a mineral resource of 1.7 million ounces of gold equivalent, the mine also holds significant reserves of antimony—a mineral that has seen a meteoric rise in value due to its role in the global energy transition.
Why Antimony?
You might be asking yourself, what is antimony, and why should we care? Antimony is a key component in the production of solar panels, making it essential in the shift toward renewable energy. It’s also used in flame retardants and military applications, further boosting its status as a critical mineral.
Antimony has been listed as a critical mineral by many governments, including the United States, due to its importance in various industrial applications. This rare element is becoming indispensable in the creation of efficient solar panels, which is driving up demand.
Since Larvotto acquired the Hillgrove project in November last year, the price of antimony has doubled. When the company purchased the project, the price of antimony was around $9,000 per ton. Today, that price has skyrocketed to $30,000 per ton, highlighting just how critical this mineral has become.
Hillgrove: Gold and Antimony Synergy
What makes Larvotto’s Hillgrove project unique is its perfect balance between gold and antimony. At present, the value derived from antimony is even outpacing that of gold. In fact, according to Larvotto’s Managing Director Ron Heeks, the antimony component alone pays for all of the company's production costs, making the gold essentially "free."
Mining both gold and antimony from the same project may seem like a logistical challenge, but Larvotto has the technology and experience to make it work. Using a conventional flotation plant, both minerals are processed simultaneously, creating a lucrative combination of outputs that is rare in the mining industry.
Australia's Highest-Grade Antimony Mine
Larvotto’s Hillgrove project isn’t just any mine—it’s Australia’s largest antimony project and one of the most promising in the world. With global antimony demand expected to grow, Hillgrove’s production capabilities will have significant implications for both the Australian and global markets.
Larvotto is poised to produce around 7% of the world’s antimony supply once the Hillgrove project reaches full production. This is globally significant, especially given recent geopolitical tensions that have affected the supply of critical minerals like antimony.
The Pre-Feasibility Study Results
Larvotto’s recent Pre-Feasibility Study (PFS) revealed robust economic potential for the Hillgrove project. The study outlined that Larvotto could begin production by early 2026 with a low capital expenditure of only AUD 80 million. Given that most of the necessary infrastructure is already in place, the cost to get the mine operational is remarkably low for a project of this scale.
With the DFS (Definitive Feasibility Study) underway, Larvotto is moving quickly toward bringing the Hillgrove project to life. Early results indicate that the DFS could be completed as early as the first quarter of next year, further reducing the timeline to production.
Antimony: A Critical Mineral in the Electric Revolution
One of the primary drivers behind the surge in antimony demand is its use in solar panels. As the world moves toward greener energy solutions, solar panel production is skyrocketing, and antimony plays a vital role in enhancing their efficiency. Each solar panel contains a small amount of antimony, but the scale of global production makes this a high-demand mineral.
Beyond solar panels, antimony is used as a metal hardener in military applications and as a flame retardant. In fact, since the Grenfell Tower fire in London, there has been an increased focus on fire safety regulations, which has spurred demand for antimony-based fire retardant materials in construction.
Hillgrove’s Exploration Potential
While Larvotto’s current resource estimates are impressive, there is still significant exploration potential at Hillgrove. The company’s recent drilling results have yielded spectacular findings, including a hit of 30 meters at 2 ounces of gold per ton—an extraordinary result that suggests there is much more to be uncovered at the site.
With a current reserve that supports a seven-year mine life, Larvotto is just scratching the surface of what Hillgrove could offer. There’s real potential for this project to continue delivering value for 20 years or more.
Global Antimony Supply Challenges
Recent geopolitical moves have amplified the importance of Larvotto’s antimony resources. China, the world’s largest antimony producer, recently banned the export of antimony for national security reasons. This has caused ripples across the global market and increased the value of projects like Hillgrove.
With China stepping back from the export market, Larvotto is in a prime position to fill this supply gap. The demand for antimony will continue to grow, especially with its critical role in solar energy and fire safety applications.
The Value Proposition for Investors
Despite Larvotto’s strategic positioning and strong assets, the company’s market cap remains relatively modest. With infrastructure valued at over AUD 150 million, and the market cap hovering around AUD 100 million, there is a clear opportunity for growth.
Larvotto is targeting full production by 2026, which isn’t far off in the world of mining. With a fully operational plant and global demand for both gold and antimony, the upside for investors is significant.
Conclusion: Larvotto Resources Poised for Success
Larvotto Resources is a company perfectly positioned to take advantage of the global shift toward critical minerals. Its Hillgrove project, rich in both gold and antimony, offers a rare combination of near-term production and long-term exploration potential. With prices for both commodities at record highs, Larvotto is set to deliver substantial returns for its investors.
