Modern Mining December 2024

demonstrates the company’s ability to contribute substantially to global supply chains. What’s more, the overall measured, indicated, and inferred resource totals 93kt antimony, and financial forecasts at a conservative antimony price of US$15 000/t confirm the high-margin potential of the project. Hillgrove’s pre-existing infrastructure requires far less funding than most new mining projects at an expected development cost of under $80 million. This makes it an attractive investment prospect at a time when uncertainty is rife, and many are looking for a diverse antimony supply chain to reestablish itself. As the implications of China’s export ban continue to unfold, Hillgrove is well-placed to fill the void and offer a high-quality source of antimony that could redefine global supply chains. For investors, this presents an opportunity to participate in a project that is not only economically promising but also crucial to the future stability of critical industries worldwide. Additionally, there is upside potential at the project with multiple exploration programmes underway as part of the DFS programme, which is targeted for completion by the end of 2024. This would see the project produce antimony well beyond the current seven-year mine life. With production targeted for 2026, Hillgrove’s advanced stage of development and upside potential places Larvotto in a prime position to meet the growing demand that will arise from the widening global supply gap. As the world grapples with the implications of a reduced antimony supply, Larvotto’s strategic positioning and resource potential make it a critical alternative to Chinese dominance in the market. n

Diamond and RC drilling programmes underway.

initial seven-year mine life. As more resources are converted to reserves, the potential exists to increase the mine life substantially. Given that Australia’s total antimony output in 2023 amounted to only 2.3kt, this highlights the significance of Hillgrove and

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DECEMBER 2024 | www.modernminingmagazine.co.za  MODERN MINING  11