Larvotto Resources (ASX:LRV) is seeking to raise $5 million through a share purchase plan, bolstering the Hillgrove Project in New South Wales towards production, expansionary drilling and mill expansion.
The offer will list shares at an issue price of $0.68, representing a 6.2% discount to the closing price of $0.73 and a 13.5% discount to the five-day volume weighted average price.
The company has also shared that directors intend to participate in the plan, which will close at 5pm (AWST) on 15 August 2025.
Eligible shareholders will be offered the opportunity to increase their holding in Larvotto by purchasing blocks of shares, starting at $5,000 and up to $30,000 at the same issue price.
As reported by Mining.com.au, the company recently raised $60 million via a two-tranche placement, which will also be used to expedite operations at the Hillgrove Project.
Hillgrove currently holds a resource estimate of 1.7 million ounces of gold equivalent @ 7.4 grams per tonne, awaiting a final investment decision before the company pushes the project towards antimony and gold production in 2026.
Larvotto Resources is an Australian explorer, focused on developing its portfolio of assets in Australia and New Zealand.
Write to Maddison Elliott at Mining.com.au
Images: Larvotto Resources
