Larvotto Resources (LRV) H1 2026 earnings summary

Executive summary

• Advanced Hillgrove Project towards production, with processing facility refurbishment on schedule and first ore delivered to surface stockpiles during the June quarter.

• Maintained strong cash position of $87.9 million, fully funding the Hillgrove Mine restart.

• Expanded copper strategy in Mt Isa region and continued exploration at Eyre Project.

• Secured a seven-year gold concentrate offtake agreement with Glencore and reinforced antimony's strategic importance via government policy.

Financial highlights

• Loss after income tax for the half-year was $6.93 million, a significant improvement from $12.36 million loss in the prior period, mainly due to capitalisation of development costs.

• Total income was $1.64 million, primarily from interest income ($1.13 million) and other income ($0.51 million).

• Cash and cash equivalents at period end were $87.9 million; net assets stood at $96.7 million.

• Mine properties under development increased to $155.3 million from $58.2 million at year-end 2025.

Outlook and guidance

• Hillgrove Project on track for first production around August 2026, with staged commissioning underway.

• Ongoing drilling and resource definition at Hillgrove and new copper exploration at Mt Isa expected to drive future growth.

• Fully funded for planned development and restart activities.