ASX: LRV - Larvotto Resources
- Matt Birney
- Jun 12
- 4 min read
Larvotto Resources: Gold, antimony, tungsten – and now copper! Larvotto takes out ASX junior
Larvotto Resources Managing Director Ron Heeks on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
ASX-listed Larvotto Resources Managing Director Ron Heeks talks to Matt Birney on Bulls N’ Bears about Larvotto’s takeover of an ASX junior with copper riches and support from one of the biggest miners on the planet.
TO LISTEN TO THE LARVOTTO RESOURCES AUDIO INTERVIEW - CLICK BELOW
Just two and a half years ago Larvotto Resources picked up the Hillgrove gold and antimony project in NSW from Administrators who clearly were not mining men. Since then Larvotto’s share price has run from 7c to a dollar thirty and its market cap has exploded from $20m to $700m and the project is now damn near ready for full scale production and cashflows. Having previously locked down an Antimony offtake agreement Larvotto just tied up a gold offtake with one of the planet’s biggest mineral commodity players.
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 Managing Director of Larvotto Resources, Ron Heeks.
Matt Birney - Hi, Ron.
Ron Heeks - Hi, Matt great to be here.
Matt Birney - Yeah. Well, just two and a half years ago Larvotto Resources picked up the Hillgrove gold and antimony project in NSW from Administrators who clearly were not mining men. Since then Larvotto’s share price has run from 7c to a buck thirty and its market cap has exploded from $20m to $700m and the project is now damn near ready for full scale production and cashflow. Having previously locked down an antimony offtake agreement Larvotto has just tied up a gold offtake with one of the planet’s biggest mineral commodity players.
Matt Birney - Ron, we'll get to that in a second. But firstly, what is the antimony and gold resource at Hillgrove in New South Wales and how much money is this thing going to make a year? Let's go with EBITDA.
Ron Heeks - EBITDA $251 million a year for the current 8 year mine life. We do see that expanding and the resources 8.5 million tonnes at equivalent grade of 7.2. So, it's a wonderful grade deposit and that gives us 1.1 million ounces of gold and 96,000 tonnes of antimony.
Matt Birney - All right. So, you just locked away an offtake for your gold concentrate. Who's taking it? How long does the deal run for? And how much concentrate are we talking about a year here?
Ron Heeks - That's with Glencore, as you say, one of the world's largest miners and offtakers. So, thrilled to have them on board. That'll be about 40,000 ounces of gold or 20,000 tonnes of concentrate for the initial 8 year mine life.
Matt Birney - All right, let's pivot. Big news. So, Larvotto Resources is taking over Hammer Metals. Now, tell me, where is Hammer Metals? What have they got?
Ron Heeks - Well, Hammer Metals for us is a synergistic and and tactical takeover. They are directly south of our thousand square kilometers of ground at Mount Isa that we listed the company on. So, we've been in that area for a long time. We love that area. They have 500,000 tonnes of contained copper at about 1.1% copper equivalent with a higher grade component on that sitting in resources. It's down the road from Glen core's processing facility. So there's an ability there to be able to move rapidly into production and really maximize the benefit from the ground that we've got there.
Matt Birney - What are you paying for Hammer?
Ron Heeks - It's about 55 million, but it's all share takeover. It works out at about 6 cents a share. So, a very good premium from where they are trading at the moment. So, a win-win for everybody.
Matt Birney - How far is this all body from surface? How much dead dirt do you have to move to get this thing going?
Ron Heeks - No, none. We're It's at surface sulphide from surface. So, perfectly suited to do what we want to do. It's a great mix of gold/antimony. It's also got a little bit of rhenum in there, which is a very unusual one, and molly as well.
Matt Birney - Ron Heeks 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.
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