Name of the Project
Hillgrove antimony/gold mine.

Location
About 23 km east of Armidale, in northern New South Wales, Australia. 

Project Owner/s
Australian resources company Larvotto Resources.

Project Description
A definitive feasibility study has provided compelling economics, confirming the project as a robust, near-term development opportunity with compelling midpoint economics. 

Over an eight-year mine life, the upgraded 525 000 t/y processing facility is forecast to deliver average production of 85 000 oz/y gold equivalent, peaking at 102 000 oz equivalent in Year 2. Average antimony production (recovered) over the life-of-mine is estimated at 4 878 t.                                                                  

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Applying an 8% discount rate, the project has a net present value of $454-million and an internal rate of return of 74%, with a payback of 2.2 years.

Capital Expenditure
Preproduction capital is estimated at $139-million.

Planned Start/End Date
Commissioning is expected to start in the third quarter of 2026.

Latest Developments
Larvotto has signed an engineering, procurement and construction management (EPCM) contract with MACA-Interquip-Mintrex.

The contract scope covers design, EPCM and the refurbishment and/or upgrade of the plant, including an ultrafine grinding circuit and a filtered (dry) tailings circuit, to about a 525 000 t/y throughput.

Early works are under way on secondary crushing and tailings filtration areas.

Larvotto says it is set to become the next major antimony producer, slated to produce 7% of global antimony demand.

Key Contracts, Suppliers and Consultants
MACA-Interquip-Mintrex (EPCM).

Contact Details for Project Information
Larvotto Resources, tel +61 8 6373 0112 or email info@larvottoresources.com.