Larvotto Resources has produced its first gold and antimony concentrate at the Hillgrove Mine in New South Wales, moving the project from plant commissioning towards a production ramp-up. The milestone comes with binding offtake agreements already in place with Wogen Resources and Glencore International AG.
- First gold and antimony concentrate produced at Hillgrove
- Flotation cells and filter presses commissioned
- Annual forecast of 4,900 tonnes of antimony and 40,500 ounces of gold
- Wogen and Glencore offtake agreements cover the initial sales pathway
- Ramp-up to nameplate capacity remains the next operational test
First Concentrate Marks Hillgrove Production Shift
Larvotto Resources Limited (ASX:LRV) has produced its first gold and antimony concentrate at the 100%-owned Hillgrove Mine in New South Wales, a significant step beyond the plant’s commissioning phase. The company said flotation cells and concentrate filter presses have now been commissioned, allowing both products to be produced from the processing plant.
The result follows the recommencement of production at Hillgrove last month after an extensive redevelopment and plant upgrade program. Larvotto is now moving into the delivery phase of its offtake agreements, although the announcement does not report realised sales, revenue, recoveries, operating costs or confirmation that the plant has reached nameplate capacity.
Antimony and Gold Have Established Buyers
Hillgrove’s antimony concentrate is expected to contain about 60% antimony after rougher flotation, Jameson cleaning and further cleaner flotation. The material is then thickened and passed through filter presses to remove excess moisture before being produced to specification.
Wogen Resources holds exclusive global offtake rights for Hillgrove’s antimony concentrate during the first seven years of mining under a binding agreement completed in December 2024. Gold concentrate produced over the same period is covered by a separate binding agreement with Glencore International AG, covering expected annual offtake of about 15,000 dry metric tonnes.
Eight-Year Forecast Sets the Ramp-Up Benchmark
Larvotto forecasts annual production of approximately 4,900 tonnes of antimony and 40,500 ounces of gold over an initial eight-year mine life. Those figures are forecasts rather than achieved production rates, making the next phase of plant ramp-up more informative than the first concentrate itself for assessing Hillgrove’s operating performance.
Managing Director Ron Heeks said the company’s focus remained on reaching nameplate capacity and developing Hillgrove into a multi-decade critical-minerals operation. The immediate evidence investors will need is operational: sustained throughput, concentrate quality, shipments under the Wogen and Glencore agreements, and the costs of producing each product.
Bottom Line?
First concentrate confirms Hillgrove has entered a more consequential operating phase, but sustained output, shipments and cash generation will determine whether the forecast becomes a commercial reality.
Questions in the middle?
- How quickly can Hillgrove move from first concentrate to steady-state, nameplate production?
- When will Larvotto report the first shipments and revenue under the Wogen and Glencore agreements?
- Will concentrate grades, recoveries and operating costs support the stated eight-year production forecast?