LRV

Staged commissioning of Hillgrove's processing plant has begun, moving from dry-end crushing through to wet-end systems, with underground ore now feeding the circuit—a major de-risking milestone toward first antimony production. The operation positions LRV as Australia's largest antimony producer, underpinned by ~4,900 t/year Sb + 40k oz/year Au forecast over 7-year mine life, pending Modification 5 approval to lift capacity to 500 t/pa.

Larvotto has exercised its option on Blockade Copper Mine after validation drilling confirmed broad, continuous copper mineralisation (1.16% Cu over 31m) beneath the historical pit, with grades and geometry remaining open at depth. The granted mining lease and hub-and-spoke regional strategy position this as a near-term development opportunity to complement its existing Mt Isa footprint.

Larvotto is defending its Hammer acquisition against an incomplete, non-binding Austral rival offer by emphasizing near-term Hillgrove gold-antimony production, strong balance sheet (~A$134m liquidity), superior scale (3.8× Austral's market cap), and a secured A$15m capital commitment from a major commodities player. The Matching Right remains untriggered because Austral's proposal lacks a defined share exchange ratio and binding terms.