Larvotto Resources has reached a final investment decision on its Hillgrove gold-antimony project in northern New South Wales, and will move forward with the development.

This follows the company’s recent completion of a $US105 million senior secured bond issue, and a further $60 million equity raising. The combined finance will mean the Hillgrove project is fully funded through construction and commissioning.

The approved capital expenditure for Hillgrove’s development is $140 million. This will go towards site works, process plant upgrades and construction works, refurbishment of the underground mine infrastructure, and equipment purchases.

The open pit and underground mining equipment fleets will be brought in through contract and hire agreements.

The investment decision follows on from a definitive feasibility study released in May. This confirmed Hillgrove as a technically robust, high-margin critical minerals project.

Larvotto is supported by an offtake agreement with Wogen Resources, which will accept antimony concentrate from the project.

Larvotto managing director Ron Heeks said the Hillgrove development had progressed rapidly since it was acquired in early 2024.

“Larvotto is proud to be playing an important role in growing Australia’s critical minerals sector,” he said. “Hillgrove remains on track to achieve concurrent production of antimony and gold in the June quarter of 2026 (and) we look forward to updating shareholders on our progress.”