What Larvotto Resources does

Larvotto Resources Limited is an Australian publicly listed mining and exploration company (ASX: LRV) headquartered in Nedlands, Western Australia, focused on developing the high-grade Hillgrove Antimony-Gold Project in New South Wales. The company is led by Managing Director Ron Heeks, Non-Executive Chairman Mark Tomlinson, and a board including Rachelle Domansky, with operational leadership covering CFO, COO, CTO, and Company Secretary functions. Hillgrove contains a Mineral Resource Estimate of 1.7Moz AuEq at 7.4 g/t AuEq and a Maiden Ore Reserve of 636,000oz AuEq at 6.6 g/t AuEq, and is positioned as Australia's largest antimony deposit and the 8th largest globally, expected to produce approximately 5,400 tonnes per annum of antimony (7% of global supply) alongside ~85,000 oz AuEq of gold.

The company operates a conventional underground and open-pit mining and mineral processing operation comprising crushing, grinding, flotation, and gravity concentration circuits, with dry-stack tailings management, a tungsten recovery circuit, and Australia's first onsite ECORE LIBS core scanning technology. The DFS (May 2025) outlined an initial 8-year mine life with Average LOM EBITDA of A$250M per annum on the mid case, post-tax free cash flows of A$128M per annum, and IRR of 48-102%. Beyond Hillgrove, Larvotto is acquiring Hammer Metals to add the Mt Isa Copper Project (~4,500 km² tenure, ~530,000 t CuEq) in Queensland, and holds the early-stage Eyre Project in Western Australia targeting gold, copper, nickel, PGE, and lithium.

Larvotto's commercial model is enterprise B2B commodity sales, with a binding seven-year offtake agreement with Glencore for ~15,000 dry tonnes per annum of gold concentrate at LBMA prices — secured via competitive tender among international commodity trading houses — augmented by a A$15M strategic equity placement from Glencore at a 15% premium. Tungsten and antimony concentrate sales are intended to follow under similar offtake structures as the project ramps to first production in August 2026. Primary customer segments are international commodity trading houses and Western government strategic supply chains seeking non-Chinese sources of critical minerals.

Name

Larvotto Resources

Legal name

Larvotto Resources Limited

Website

https://larvottoresources.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Larvotto Resources is an Australian mining company developing the Hillgrove Antimony-Gold Project in NSW, targeting ~5,400 t/yr of antimony and ~85,000 oz AuEq of gold from first production in August 2026 under a Glencore offtake, with additional copper exposure from the Mt Isa acquisition.

Ownership category

akta.pro rank

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Gold Concentrate Sales (Hillgrove): Larvotto sells gold concentrate produced at the Hillgrove Antimony-Gold Project under a binding seven-year offtake agreement with Glencore, covering approximately 15,000 dry tonnes per annum at LBMA gold prices. Commissioning and first production are scheduled for August 2026.
2. Tungsten Concentrate Sales: Following successful metallurgical testwork achieving 90% tungsten recovery, Larvotto plans to sell tungsten concentrate as an additional revenue stream from its existing unused tungsten circuit at the Hillgrove processing plant, with tungsten prices approaching record highs.
3. Antimony Concentrate Sales: Hillgrove is expected to produce approximately 5,400 tonnes of antimony annually, representing 7% of total worldwide production. Antimony is sold as concentrate alongside gold, with prices reaching a record high of over US$35,000 per tonne in November 2024.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

Larvotto Resources is an Australian mining and resources company that develops and operates mineral projects, with its core asset being the Hillgrove Antimony-Gold Project in New South Wales. The company will produce and sell gold concentrate, antimony concentrate, and tungsten concentrate from a single processing facility. Production is scheduled to commence in August 2026, with the operation targeted to produce approximately 5,400 tonnes of antimony and 85,000 oz AuEq per year, representing 7% of global antimony supply.

Product overview

Larvotto Resources is an Australian mining and resources company operating as a dual-commodity producer and explorer. The company's primary product is the Hillgrove Antimony-Gold Project in NSW, a near-production mining operation expected to commence production in 2026 targeting gold and antimony (a critical mineral). This core project is complemented by the Mt Isa Copper Project in Queensland (acquired through the 2026 Hammer Metals acquisition) for copper and critical minerals exploration, and the Eyre Project in Western Australia for early-stage exploration of copper, gold, nickel, PGE, and lithium. The portfolio is structured as separate mining/exploration projects rather than an integrated software platform or product suite.

Differentiator

Problem solved

Functional benefit

Products and services

• Hillgrove Antimony-Gold Project Near-production high-grade gold and antimony mining project located 23km east of Armidale in New South Wales, with a Mineral Resource Estimate of 1.7Moz gold equivalent at 7.4g/t AuEq. Australia's largest antimony deposit and the 8th largest globally, targeting 7% of global antimony requirements. Production targets approximately 5,400 tonnes of antimony and 85,000 oz AuEq per year, sold under a seven-year binding offtake agreement with Glencore.
• Mt Isa Copper Project Copper and critical minerals exploration project located in northwest Queensland covering approximately 889-900 km² along strike from the Mount Isa Mines Operation. Targets copper, gold, and cobalt mineralisation in one of the world's richest metallogenic regions, contributing to a combined JORC resource of approximately 530,000 tonnes of copper-equivalent across the merged Larvotto-Hammer portfolio.
• Eyre Project Early-stage exploration project located in Western Australia covering 580 km², targeting gold, copper, nickel, PGE, and lithium mineralisation adjacent to Liontown Resources' Buldania lithium deposit.
• Tungsten Concentrate Production Byproduct tungsten concentrate produced from the existing unused tungsten recovery circuit at the Hillgrove processing plant, adding a third revenue stream to the gold and antimony operation with minimal additional capital cost.

Quantifiable outcome

• A$250M average LOM EBITDA per annum on mid case pricing scenario
• +6 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Hammer Metals Limited (ASX: HMX)coreStrategic or Co-development Partner · 12 June 2026Larvotto entered a binding scheme implementation deed to acquire 100% of Hammer Metals Limited shares via a court-approved scheme of arrangement. Under the deal, Hammer shareholders receive one Larvotto share for every 22 Hammer shares held, implying an A$54 million scrip valuation for Hammer. The acquisition merges Larvotto's Hillgrove Antimony-Gold Project in NSW with Hammer's Mt Isa copper and critical minerals portfolio in Queensland, creating a combined resource of around 530,000 tonnes of copper-equivalent across 4,500 km² of tenure.
• PYBAR Mining ServicescoreImplementation/ SI/ Consulting Partner · 6 November 2025Larvotto secured a four-year contract with underground mining specialist PYBAR to lead development at its Hillgrove antimony-gold project in northern New South Wales, covering nearly 20 kilometers of underground drives. PYBAR is a full-service mining contractor providing development and production services. Operations commenced within weeks of the contract signing as part of Larvotto's build-and-commissioning push.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mandalay Resources: Mid-tier gold and antimony producer operating the Costerfield mine in Australia, the closest direct comparable for Larvotto's gold-antimony-tungsten multi-commodity strategy.
• Perpetua Resources: US-based developer of the Stibnite gold-antimony project in Idaho; comparable as a near-term Western antimony-gold producer targeting the same critical mineral supply gap.
• Nova Minerals: ASX-listed explorer-developer focused on gold and critical minerals in Alaska and Australia; comparable as an early-to-mid-stage Australian critical minerals platform pursuing antimony/REE optionality.

Emerging players

• Cobalt Blue Holdings: Australian developer of the Broken Hill cobalt-sulphate project pursuing downstream critical minerals processing; overlaps with Larvotto on the Australian critical minerals theme and government-policy tailwinds.
• Emmerson Resources: Small-cap ASX gold and copper explorer in NSW with critical minerals optionality; comparable as a junior Australian multi-commodity developer targeting similar investor segments.

Regional players

• Liontown Resources: ASX-listed lithium developer whose Buldania tenement adjoins Larvotto's Eyre Project; a relevant adjacent peer given shared WA geography and critical minerals investor base.

Broad incumbents

• Ramelius Resources: Mid-cap Australian gold producer with multiple operating mines; relevant for benchmarking Australian gold mining unit economics and investor expectations for an emerging Australian gold producer.
• Evolution Mining: Large ASX-listed Australian gold producer operating multiple mines; a useful benchmark for what a fully ramped Australian gold-antimony business could look like at scale.
• Capstone Copper: Mid-tier copper producer with Australian operations including the Mt Isa region; relevant post-Hammer Metals acquisition as a benchmark for the Mt Isa copper portfolio's potential scale.

Others

• United States Antimony Corporation: US-listed antimony producer that submitted the rejected A$373M bid for Larvotto; relevant as a direct competitor in Western antimony supply and as the counterparty in the recent takeover attempt.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/LarvottoR
• YouTubeyoutube.com/channel/UCMesPhfW_povem8jzN7x2NQ
• Facebookfacebook.com/LarvottoResources
• LinkedInlinkedin.com/company/larvotto-resources-limited
• Instagraminstagram.com/larvotto_resources

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Larvotto Resources