Larvotto Resources announces strategic move

Larvotto Resources (ASX:LRV) has entered into a binding offtake agreement with Wogen Resources for antimony concentrate from its Hillgrove Project. Additionally, the company secured a US$4 million prepayment facility with XCLR Commodities to support the project's development.

Strategic developments and future outlook for Larvotto

Larvotto Resources has made significant strides with the signing of a binding agreement with Wogen Resources for the sale of antimony concentrate from the Hillgrove Project. The agreement is set to last for seven years of mining operations. Additionally, Larvotto secured a US$4 million prepayment facility with XCLR Commodities, facilitating the completion of a Definitive Feasibility Study and expansion of exploration activities. The company aims to finalize this study by Q1 2025 and is actively pursuing a gold concentrate offtake agreement. These strategic moves underscore Larvotto's commitment to advancing its projects and strengthening its foothold in the critical metals market.

Executive insights on strategic partnerships

This agreement and funding are crucial as we advance the Hillgrove Project towards production. The partnership with Wogen Resources and the prepayment facility from XCLR Commodities will significantly boost our capabilities to complete the DFS and expand our exploration activities.