1 week ago
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The institution picked up the 1.4-million-ounce golden equivalent cognition aft entering into a binding word expanse with the administrators of erstwhile owner, Red River Resources, for a acquisition terms of little than $6 per ounce.
Significantly, the acquisition besides includes an operational processing plant, which was enactment connected attraction and attraction successful 2021. It features a 250,000 tonnes per annum capableness and came with associated infrastructure.
The country has been mined since the 1870s and the Hillgrove operations person produced much than 740,000 ounces of golden and astir 40,000 tonnes of antimony. It is believed to beryllium Australia’s biggest antimony deposit and besides sits successful the world’s apical 10 resources for the commodity.
Management says its latest drilling run has confirmed important mineralisation not lone wrong the Little Reef lode, but besides wrong the associated shear portion that was intersected with respective drillholes. Importantly, the results infill and widen to extent the existent Bakers Creek mineralisation, which is not presently included successful the Hillgrove mineral resource.
With golden inactive comfortably sitting supra the $3520 per ounce mark, Larvotto’s diamond drill assays person been timed to perfection – and the marketplace is intelligibly paying adjacent attention.
Is your ASX-listed institution doing thing interesting? Contact: mattbirney@bullsnbears.com.au
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