Hillgrove gold/antimony project, Australia
Photo by Larvotto Resources
Name of the Project
Hillgrove gold/antimony project.
Location
News South Wales, Australia.
Project Owner/s
Larvotto Resources.
Project Description
The Hillgrove mine operated for 30 years as an antimony-focused operation and 100 years prior as a successful high-grade gold mine. The project comprises surface infrastructure, which includes the process plant, power, roads, a decline and substantial underground development.
A prefeasibility study has proposed production of 41 100 oz of gold and 5 400 t of antimony over a seven-year mine life.
This is the first time that gold and antimony will be targeted with equal priority at Hillgrove.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Using conservative gold and antimony prices of $2 000 and $15 000 respectively, the project has an estimated after-tax net present value, at an 8% discount rate, of $157-million and an internal rate of return of 49.6%, with a payback of two years.
Capital Expenditure
The project will cost less than $73.4-million to develop.
Planned Start/End Date
The project is targeting first ore by early 2026.
Latest Developments
The Larvotto board has approved the immediate start of the definitive feasibility study, which is expected to be completed by the end of 2024.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Larvotto Resources, tel +61 8 6373 0112 or email info@larvottoresources.com.
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