ASX: LRV - Larvotto Resources
- Matt Birney
- Aug 8
- 3 min read
Larvotto Resources: $251m a year profit from a $3m initial outlay – gotta love those administrators!
Larvotto Resources Chairman Mark Tomlinson on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Larvotto Resources Chairman Mark Tomlinson talk to Matt Birney on the Bulls N’ Bears Report about Larvotto’s multi-million dollar re-invention of a gold/antimony project that was unceremoniously offloaded by administrators for a song.
TO LISTEN TO THE LARVOTTO RESOURCES AUDIO INTERVIEW - CLICK BELOW
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by gold and antimony developer, Larvotto Resources.
Matt Birney - ASX code: LRV
Matt Birney - I'm Matt Birney , and I'm joined now by the Chairman of Larvotto Resources, Mark Tomlinson.
Matt Birney - Hi, Mark.
Mark Tomlinson - Hi, Matt. How are you?
Matt Birney - Okay, I'm good. Now Mark Larvotto has just pushed the go button on restarting your Hillgrove gold and antimony project in New South Wales with production due in quarter 2 of 2026.
Matt Birney - Remind me what's the resource at this project now in gold and antimony?
Mark Tomlinson - The resource is 1.7 million ounces of gold equivalent at a stunningly high 7.4 grams per tonne of gold equivalent.
Matt Birney - Okay. So, Larvotto just pushed the the go button at Hillgrove with the financial investment decision to build and restart the project. What's it going to cost to fund it? How long will it take you to pay that money back? And how are you going to fund it?
Mark Tomlinson - It's going to cost the capital for the restart is circa $140 million. We have just raised a senior secured bond for $105 million US and have raised $65 million of new equity in the last two weeks. So, we are fully funded.
Matt Birney - All right, let's get into some rapid fire questions on the numbers. Firstly, what's the initial mine life?
Mark Tomlinson - Eight years.
Matt Birney - How much gold and antimony will you produce a year?
Mark Tomlinson - 40,000 gold ounces and 5,000 tonnes of antimony per year.
Matt Birney - Now, how much money is this thing going to make a year on average over the 8 year mine life? Let's go with EBITDA.
Mark Tomlinson - $251 million Australian dollars per year.
Matt Birney - And what's the post tax net present value in Aussie dollars?
Mark Tomlinson - Mid pricing $700 odd million after tax.
Matt Birney - Yeah. Well, let's talk pricing. So, what prices did you use in your study and what would that net present value in EBITDA go to if you use today's spot price?
Mark Tomlinson - Sure. We used for the mid-level pricing, we use a conservative $2,850 per ounce for gold and $41,000 US per tonne for antimony. If we use spot pricing today, the NPV would jump to $1.3 billion Australian dollars after tax and circa $360 million EBITDA per annum.
Matt Birney - Mark Tomlinson from Larvotto Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab.
