Larvotto Resources Limited · ASX:LRV
Larvotto Resources — Non-Deal Roadshow (November 2025)
21 slides from Larvotto Resources's roadshow presentation, Nov 20, 2025
Slide 1: Investor Presentation – North American Roadshow
20 November 2025 Larvotto Resources Limited – ASX Announcement Investor Presentation – North American Roadshow Larvotto Resources Limited (ASX: LRV, ‘Larvotto’ or ‘the Company’) is pleased to release its latest company presentation. Non-Executive Chair, Mark Tomlinson, is currently participating in
Slide 2: Hillgrove Antimony-Gold Project
Hillgrove Antimony-Gold Project COMPANY PRESENTATION November 2025 Advancing concurrent Antimony and Gold production in NSW ASX:LRV 1 COMPANY PRESENTATION | NOVEMBER 2025 | ASX: LRV
Slide 3: Hillgrove Antimony & Gold Project
Hillgrove Antimony & Gold Project 2023 • Acquisition of Hillgrove Project – Cost $3M (+$5M enviro bond) – Antimony price <$10,000/t, Gold ~US$2,000/oz 2024 • Exploration to increase Resource commenced • PFS released1 • Antimony offtake completed with Wogen Resources2 2025 • DFS released3 • Mod-6 App
Slide 4: Larvotto Resources is set to produce 7% of Global Supply
Market Tailwinds • Gold at record highs US$4,100/oz • Antimony a strategic metal – US, EU, UK, Australia Critical Minerals List – China dominates global production & supply Larvotto Resources – Sharp move in 2025 due to export controls placed by China and global supply-chain concerns is set to produ
Slide 5: Definitive Feasibility Study - NPV 8% (post-tax) of $694M and IRR 102%
Definitive Feasibility Study DFS confirms Hillgrove as a technically robust, high-margin critical minerals project1 • LOM of 8 years with production from underground and • Project Payback 11 months open-pit • Exploration potential to increase mine life • Average 80.4koz AuEq pa • Targeting first ore
Slide 6: Compelling DFS delivered
Compelling DFS delivered DFS delivers robust financials with significant Key Project Economics $AUD upside at spot price of antimony and gold1 Item Base Mid Spot • Spot price in DFS more relevant as near-term production: NPV (post-tax 8%) $280M $694M 1,269M – LOM EBITDA $373m pa IRR% 48 102 153 – Pa
Slide 7: Final Investment Reached
Final Investment Reached Hillgrove Now Progressing to Development and Production Construction and Commissioning Fully Funded US$105M Senior Secured Bond AU$70M Equity Placement + SPP Completed Plant Upgrade Commenced - MIQM Underground Development Contractor Appointed 6 COMPANY PRESENTATION | NOVEMB
Slide 8: Key Developments – 2H 2025
Key Developments – 2H 2025 Key appointments to advance plant upgrade & commence mining • MIQM awarded EPCM to deliver processing plant upgrade – Refurbish / upgrade the plant to ~0.525Mtpa throughput – Early works: secondary crushing & tailings filtration • PYBAR appointed underground development co
Slide 9: Hillgrove Site Map
Hillgrove Site Map Ore Handling Infrastructure Road and Stockpile Pads for Initial Mining Areas Processing Plant 500ktpa capacity to produce Gravity Au Doré Sb & Au Concentrates Water Treatment MF/RO to treat for permitted discharge Maintenance & Concentrate Support Building Loading Area Workshops,
Slide 10: Resource Growth
Resource Growth Significant untested antimony mineralisation • Over 20km of strike in multiple zones • Limited historical surface drilling (high antimony) • Exploration potential along strike and at depth • IP Surveys completed identify drill targets at Kiarra & Freehold Prospects • Ongoing drilling
Slide 11: Significant Exploration Upside
Significant Exploration Upside Over 200 known deposits and occurrences on Larvotto's Hillgrove leases Current Mineral High-grade Resource intercepts include: with ore exposed. BKC012 Decline 3.5m @ 9.55g/t Au including in-place. 0.5m @ 49.6g/t Au BKC013 13.1m @ 3.61g/t Au including 4m @ 8.11g/t Au B
Slide 12: Board and Management
Board and Management Board of Directors Management Sonja Neame Chief Operating Officer Mark Tomlinson Ron Heeks Rachelle Domansky B.Eng.(Mining), FAusIMM B.App.Sc, MAusIMM B.A, B.App.Sc (Hons), M.Ed, DipESG, MAPS, MASH, MAICD Nick Longmire Non-Executive Chair Managing Director Non-Executive Director
Slide 13: Corporate Overview
Corporate Overview Corporate Structure Major Shareholders 3% Shares on Issue 516,703,406 9% Board & Management Gage Unlisted Options exercisable @ 0.30 1,515,427 10% 1832 Asset Management 68% Performance Rights 19,443,383 10% US Antimony Corp Remaining Shareholders Share Price (13 November 2025) $1.
Slide 14: Hillgrove – Development Path
Hillgrove – Development Path Complete Complete Definitive Pre-Feasibility Plant Upgrade Metallurgy Feasibility Study Study Study Study Final Project Commence Commence Investment Finance Plant Upgrade Mining Decision 13 COMPANY PRESENTATION | NOVEMBER 2025 | ASX: LRV
Slide 15: Production Looming
Production Looming Bringing Australia’s largest antimony project into production in Q2 2026 • DFS details Hillgrove Antimony and Gold Project to be: – Strong margins and rapid payback – Significant uplift using spot prices • Upside to DFS from processing, exploration and increasing Resource • Formal
Slide 16: JORC Ore Reserve Estimate
JORC Ore Reserve Estimate Technically and economically viable high-grade project demonstrating low opex and significant high-margin production target profile. JORC 2012 Ore Reserve Estimate13 AuEq Cont. Tonnes Au Grade Sb Grade Cont. Sb Cont. AuEq Classification Grade Au (mt) (g/t) % (kt Sb) (AuEq k
Slide 17: Hillgrove Mineral Resource Estimate
Hillgrove Mineral Resource Estimate JORC 2012 Mineral Resource14 Tonnes Au Grade Sb Grade AuEq Grade Cont. Gold Cont. Sb Classification (kt) (g/t) % (g/t) (koz Au) (kt Sb) Measured 672 3.2 2.8 11.3 70 19 Indicated 4,242 4.5 1.1 7.7 608 47 Measured & Indicated 4,914 4.3 1.3 8.2 678 66 Inferred 3,852
Slide 18: Contact Us
Contact Us Suite 1, 88 Broadway Nedlands WA 6009 PO Box 3114, Nedlands WA 6009 T: (08) 6373 0112 E: info@larvottoresources.com W: www.larvottoresources.com ASX:LRV 17 COMPANY PRESENTATION | NOVEMBER 2025 | ASX: LRV
Slide 19: Cautionary Statement
Cautionary Statement Based on technical and economic studies, the Definitive Feasibility Study referred to in the DFS Summary Report examines the potential of developing the Hillgrove Antimony- Gold Mine by constructing open cut and underground mines and expanding a processing facility to produce go
Slide 20: Cautionary Statement
Cautionary Statement Nature of this document: This investor presentation (Presentation) is dated 8 May 2025 and has been prepared Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Relevant factors and authorised by Larvotto Resources Limited (ACN 645 596 2
Slide 21: Disclaimer and Important Notices (Cont.)
Disclaimer and Important Notices (Cont.) estimates in the relevant market announcements continue to apply and have not materially changed. The Company Competent Persons Statement confirms that the form and context in which the Competent Person’s findings are presented have not been Mineral Resource
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