Larvotto Resources Limited (ASX:LRV) Acquires Echidna Gully to Support Hillgrove Mine
Acquisition Details
Larvotto Resources Limited has purchased Echidna Gully, an accommodation facility near the Hillgrove Antimony-Gold Project, for $3 million in cash and the issuance of 771,109 ordinary shares valued at $600,000. This strategic acquisition provides a central hub for camp operations and supports the growing workforce ahead of the 2026 mining commencement.
Workforce Expansion
The acquisition secures lodging for 95 workers, including contract drill crews and plant modification teams, reflecting Larvotto’s commitment to creating local employment opportunities in regional New South Wales. The facility’s amenities, such as self-contained kitchens and recreational areas, support a conducive living environment.
Hillgrove Project Overview
The Hillgrove Antimony-Gold Project is Australia’s largest antimony deposit, poised to produce 7% of global antimony supply amid record prices. The project’s development is expected to boost local employment and contribute significantly to the global market.
Executive Comments
Managing Director Ron Heeks stated, “The purchase of Echidna Gully is an important step in our strategy to support the growing workforce at the Hillgrove Antimony-Gold Project. With mining development progressing towards the proposed commencement of production in early 2026, this acquisition ensures that our team has access to accommodation close to site. Echidna Gully provides an excellent facility that allows us to offer a comfortable and convenient base for our employees, contract drill crews and plant modification teams, reflecting our commitment to bringing the Hillgrove Mine back into production as we work to deliver Australia’s largest antimony resource to the global market.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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