Larvotto Resources Limited (ASX:LRV) ('Larvotto' or 'Company') is pleased to advise that it has successfully completed its Senior Secured Bond Issue raising a total of US$105 million ('Bond Issue').
The net proceeds of the Bond Issue, together with existing cash and other equity proceeds, will be used for the restart of the Hillgrove Antimony and Gold Project in New South Wales. Settlement of the Bond Issue is expected on 1 August 2025 and is subject to customary closing conditions. Clarksons Securities AS acted as sole manager for the Bond issuance
Managing Director Ron Heeks said, 'The Bond completion marks another milestone for Larvotto Resources and its Hillgrove Project. Completed well within the expected project finance timeline, for the company to be in a position to undertake a Bond Issue is a strong endorsement of the Project and its projected returns. The Bond is sufficient to cover the expected budget for the expansion and commencement of mining at Hillgrove, ensuring operations will be underway in Q2 2026. The successful issue of the Bond provides a simple path forward as it is covenant light and does not include items such as metal hedges, royalties or marketing fees. The incredible effort of the entire Larvotto team ensured the project financing was completed only weeks after the release of the Hillgrove Definitive Feasibility Study.'
About Larvotto
Larvotto Resources Limited (ASX:LRV) is actively advancing its portfolio of in-demand minerals projects including the Hillgrove Gold-Antimony Project in NSW, the large Mt Isa copper, gold, and cobalt project adjacent to Mt Isa townsite in Queensland, the Eyre multi-metals and lithium project located 30km east of Norseman in Western Australia and a gold exploration project at Ohakuri in New Zealand's North Island. Larvotto's board has a mix of experienced explorers, corporate financiers, ESG specialist and corporate culture to progress its projects.
Forward Looking Statements
Any forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, Larvotto does not intend, and does not assume any obligation, to update this forward-looking information. Any forward-looking information contained in this news release is based on numerous assumptions and is subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking information. Readers are cautioned not to place undue reliance on forward looking information due to the inherent uncertainty thereof.
Contact:
Ron Heeks Ben
Tel: +61 (8) 6373 0112 +
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