Larvotto Resources Invites Shareholders to Boost Hillgrove with $5M SPP at 13.5% Discount

Larvotto Resources’ Capital Raise Strategy

Larvotto Resources Limited (ASX, LRV) has officially launched a Share Purchase Plan (SPP) aimed at raising up to $5 million by offering eligible shareholders the opportunity to purchase new shares at $0.68 each. This price represents a 13.5% discount to the volume weighted average price of the company’s shares in the days leading up to the announcement, providing an attractive entry point for existing investors.

The SPP is part of a broader capital raising initiative that includes a recent $60 million placement to sophisticated and professional investors, bringing the total targeted funds to $65 million. This significant capital injection underscores Larvotto’s commitment to advancing its Hillgrove Project in New South Wales, which focuses on concurrent gold and antimony development.

Use of Funds and Project Outlook

Funds raised through the SPP and placement will be allocated to several critical areas, pre-production capital expenditure at Hillgrove, ongoing exploration programs including both underground and surface drilling, early site works in preparation for mill expansion, recruitment of operational readiness teams, and general working capital. These investments are designed to accelerate the project’s development timeline and enhance operational capacity.

The Hillgrove Project represents a strategic asset for Larvotto, combining gold and antimony resources in a region with established mining infrastructure. The company’s focus on expanding and infilling drilling programs suggests a drive to increase resource confidence and potentially extend the mine life or production profile.

Participation Details and Shareholder Benefits

The SPP is open exclusively to shareholders registered as of 7, 00pm AEST on 24 July 2025 with addresses in Australia, New Zealand, or the United Kingdom. Eligible shareholders can subscribe for up to $30,000 worth of shares without incurring brokerage fees, making it a cost-effective way to increase their holdings. The offer closes at 5, 00pm AWST on 15 August 2025, with shares expected to be issued and quoted on the ASX by 25 August 2025.

Notably, the company’s directors have confirmed their participation in the SPP, signaling confidence in the company’s prospects. The offer is non-renounceable, meaning shareholders cannot transfer their rights to others, and the company reserves the right to scale back applications if oversubscribed.

Regulatory and Market Considerations

Larvotto has carefully structured the SPP to comply with regulatory requirements, excluding shareholders outside Australia, New Zealand, and the UK due to legal and logistical constraints. The company also highlights the speculative nature of the investment, cautioning shareholders that share prices may fluctuate between the offer and issue dates.

Overall, this capital raising round positions Larvotto to advance its Hillgrove Project with a solid financial foundation, while offering existing shareholders a discounted opportunity to deepen their investment in the company’s growth story.