Antimony entering a “perfect storm of production”, Larvotto Resources MD says

Core Viewpoint - Larvotto Resources is advancing its Hillgrove project in New South Wales, focusing on the viability of tungsten as a byproduct, with plans for commercial production by Q2 2026 [1][2]. Company Overview - Larvotto Resources aims to produce 5,400 metric tons of antimony annually at Hillgrove, which would account for 7% of global production [7]. - The company signed a binding offtake agreement with Wogen Resources for the first seven years of antimony output [5]. - Larvotto's stock has increased by 123% over the past year, reflecting strong market interest [7]. Project Details - The Hillgrove project has a Mineral Resource Estimate (MRE) of 8,766 kt at 4.0 g/t gold and 1.1% antimony, with a gold equivalent grade of 7.2 g/t [3]. - Recent metallurgical tests showed a 90% tungsten recovery and a 16X increase in feed grade, indicating a cost-effective processing circuit for tungsten concentrate [2]. Market Context - Antimony is classified as a critical mineral by the US Department of the Interior, essential for various applications including military uses and solar panels [4]. - The global antimony market is heavily influenced by China, which dominates production and refining [4][12]. - Current demand for antimony is driven by its use in solar panels (30% to 40%) and military applications [9]. Strategic Positioning - The Hillgrove project is considered a strategic asset due to its position among the world's top 10 antimony deposits, especially following China's export limits on antimony [3]. - The project is expected to fill a gap in the market as Western production has decreased significantly while demand continues to rise [11]. Production and Refining Challenges - The US lacks sufficient refining capacity for antimony, with the only significant smelter being outdated and at full capacity [13]. - Larvotto's concentrate will be sold to Wogan, which will distribute it to smelters in Asia and Europe, avoiding the Chinese market due to its artificial pricing issues [12][14].