Interview with Ron Heeks, Managing Director of Larvotto Resources
Our previous interview: https://www.cruxinvestor.com/posts/larvotto-resources-asxlrv-australias-largest-antimony-mine-enters-construction-phase-8209
Recording date: 3rd September 2026
Larvotto Resources has officially transitioned from developer to producer, commissioning the processing plant at its Hillgrove Antimony-Gold Project in New South Wales on August 31st 2026. The milestone met management’s targeted timeline, positioning the operation to ramp toward full production of 500,000 tonnes of ore annually. Once steady-state operations are reached, Hillgrove is projected to deliver 40,500 ounces of gold and 4,900 tonnes of antimony per year, the latter representing roughly 7% of global antimony supply.
Operational efficiency has exceeded initial projections, with plant operating hours tracking ahead of schedule. By establishing a residential workforce in nearby Armidale instead of a fly-in, fly-out model, Larvotto reduced required personnel from 250 to approximately 180. The project also benefits from locked-in offtake agreements exceeding 12 months, sending gold concentrate to Glencore and antimony concentrate to Wogen Resources.
Substantial exploration and metallurgical upside have further bolstered the asset. Larvotto recently identified the Midas zone, a new gold lode located just 50 metres from current underground workings. Midas holds a conceptual exploration target of 223,000 to 2.95 million ounces of gold equivalent, offering low-capital near-term integration into the mine plan. Concurrently, metallurgical testing has demonstrated 90% recovery of tungsten into the rougher float. With global tungsten prices climbing sharply, Larvotto plans to commercialize the metal as an unmodeled third revenue stream.
Despite delivering the project on time, fully funded, and amid surging commodity prices with gold doubling price and antimony roughly tripled since acquisition, Larvotto’s share price has posted a comparatively modest 25% gain. Backed by $87.9 million in cash as of mid-2026, management remains focused on securing "Modification 5" regulatory approvals for full-scale capacity, advancing its Mt Isa copper tenure, and proving up the Midas discovery as Western demand for critical minerals intensifies.
Learn more: https://www.cruxinvestor.com/companies/larvotto-resources-limited
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What is Company Interviews?
An insight into junior mining and opportunities to invest.
Company Interviews, a Crux Investor show, exists to cut through the jargon, bias and bluster.
Matthew Gordon, and guest host Merlin Marr-Johnson hone in on the important factors that indicate a company's strong footing for growth and success.