Larvotto Resources (LRV) Q1 2025 TU earnings summary

Executive summary

• Completed technical work for the Definitive Feasibility Study (DFS) at Hillgrove Antimony-Gold Project, including engineering modifications for dry stack tailings and process optimisation amid record-high gold and antimony prices.

• Exploration drilling advanced at Bakers Creek and Eleanora-Garibaldi, with significant high-grade gold-antimony intercepts reported.

• Acquired Echidna Gully accommodation facility to support workforce expansion and opened the Hillgrove Hub for community engagement.

• Included in the ASX All Ordinaries Index, reflecting increased market recognition.

Financial highlights

• Cash balance at 31 March 2025 was $34.4 million, up from $28.0 million at the previous quarter end.

• Net cash used in operating activities was $6.1 million; investing activities used $3.4 million; financing activities provided $15.9 million.

• Received $0.42 million from the exercise of unlisted options, resulting in 1,400,541 new shares issued.

Outlook and guidance

• DFS finalisation and release expected shortly, with production commencement targeted for 2026.

• Ongoing recruitment and operational readiness build-out, with continued aggressive exploration and early site works planned for the next quarter.