London-based trading company Wogen Resources has entered into an exclusive antimony concentrate offtake agreement with Larvotto Resources Ltd.
The agreement was signed together with Wogen’s sister investment and financing company, Xcelsior Capital Limited, and is supported with a $4 million secured prepayment. The financing will be used to expand Larvotto’s exploration activities, finalise its definitive feasibility study and to move forward towards production at the company’s Hillgrove antimony project.
“We are very pleased to be able to combine the expertise of Wogen’s international market presence and reach with Xcelsior’s financing capabilities in providing a solution to Larvotto as they go about developing the production of their antimony concentrate project” Wogen said.
Completing the offtake agreement with Wogen is another significant milestone for the Hillgrove Project as it progresses towards production, “ Lavrotto’s managing director Ron Hicks commented.
The Hillgrove antimony project, located in New South Wales, is Australia’s largest known antimony resource and is estimated to be the world’s eighth largest antimony mineralisation. A DFS on the project is expected to be completed in Q1 2025.
