Larvotto Resources (ASX: $LRV) announces USD$8m funding package for Hillgrove

Larvotto Resources Limited (ASX: $LRV) has signed a non-binding term sheet with Wogen Resources Limited and Xcelsior Capital Limited for a USD$8 million funding package to support the development of the Hillgrove Antimony/Gold Mine in New South Wales. The package includes a pre-payment loan for antimony offtake and gold concentrate marketing rights, as well as a working capital loan to fund the company through the updated Ore Reserve statement and Bankable Feasibility Study for Hillgrove.

Executive Commentary on Funding Package

The Wogen Xcelsior combination has been selected from a group of potential financing and offtake partners. Wogen is a UK based metals trading company with an established presence in the antimony market and Xcelsior a specialist critical minerals investor. For them to consider funding the development of the company is a massive endorsement of the project and leaves the Company fully funded to move to project financing for Hillgrove while maintaining exploration on its other projects. Larvotto looks forward to working with both Wogen and Xcelsior to deliver the best outcome for the development of Hillgrove and return for shareholders.

Summary of Larvotto Resources' Funding Announcement

Larvotto Resources Limited (ASX: $LRV) has secured a USD$8 million funding package through a non-binding term sheet with Wogen Resources Limited and Xcelsior Capital Limited. The package includes a pre-payment loan for antimony offtake and gold concentrate marketing rights, as well as a working capital loan to fund the company through the updated Ore Reserve statement and Bankable Feasibility Study for Hillgrove. The funding is a significant milestone for Larvotto, providing the necessary financial support to progress towards project financing and commencement of mining operations at Hillgrove. The company's management expresses confidence in the selected partners and anticipates a positive outcome for the development of Hillgrove and its shareholders. The Hillgrove project, with its substantial antimony and gold deposits, is strategically positioned to contribute to the energy transition and holds potential for substantial returns.