Larvotto Resources (ASX: LRV)
Advised the first antimony concentrate shipment has departed the Company’s 100%-owned Hillgrove Mine in New South Wales.
The first shipment of 68 tonnes of antimony concentrate has commenced with delivery to the Company’s antimony offtake partner Wogen Resources at the mine gate.
Hillgrove mine – Courtesy of Larvotto Resources
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| Larvotto Resources | ASX: LRV | |
| Stage | Development | |
| Metal | Gold, Antimony | |
| Market cap | A$437 m @ A$0.84 | |
| Location | Australia | |
| Website | www.larvottoresources.com |
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Larvotto Announce First Concentrate Shipped from Hillgrove Antimony-Gold Mine
Larvotto Resources Limited (ASX: LRV), (‘Larvotto’ or ‘the Company’) is pleased to advise the first antimony concentrate shipment has departed the Company’s 100%-owned Hillgrove Mine in New South Wales.
The first shipment of 68 tonnes of antimony concentrate has commenced with delivery to the Company’s antimony offtake partner Wogen Resources at the mine gate.
Having satisfied a condition of the offtake agreement, the Company will receive an initial payment for the delivery.
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Highlights
• First shipment of antimony concentrate has commenced with the first truck leaving site today
• Concentrate collected at the mine gate by offtake partner Wogen Resources, satisfying a delivery condition for part-payment under the offtake agreement
• Production ramp-up continues to improve, with plant availability exceeding schedule, processing tonnages increasing and ongoing improvements in concentrate grades
• First gold concentrate shipment being prepared
• Tungsten extraction testwork continues to highlight positive results
• Hillgrove Mine to produce approximately 4,900 tonnes of antimony and 40,500 ounces of gold per annum
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Comment from Ron Heeks, Managing Director:
“The delivery of the first antimony concentrate is a proud moment for the Company, as Hillgrove becomes a revenue generating mine and officially Australia’s newest supplier of critical minerals.
“As the first of the three products the plant produces, the focus has been on the antimony circuit. With the antimony circuit now operating at a steady rate, we will broaden our focus to optimise gold concentrate and gold doré production.
“The ramp-up of the plant is progressing well, with availability, processing tonnages and concentrate grades continuing to improve as the team refines the performance of the plant.
“The progress of the production reflects the wonderful, combined efforts of the processing and mine teams in commissioning and optimising the plant.
“This is a key milestone for Australia’s critical mineral and mining sector and is also significant for the New England region, supporting local jobs, businesses and economic activity.
“We all look forward to the shipment of first gold concentrate and production of the first gold bars in the near term.”
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To read the full news release please click HERE
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Disclosure
At the time of writing the author holds no shares in Larvotto Resources.
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