Larvotto Resources managing director Ron Heeks said: “We are delighted to be accepted into the DIBC, which reflects the global significance of our Hillgrove Antimony-Gold Project as it moves towards production. With an anticipated production of 7% of the world’s antimony supply, Hillgrove is poised to play a strategic role in addressing the critical minerals needs of the global market.”

As a future annual producer of potentially 5400 tonnes of antimony, Larvotto is now a significant piece of the puzzle in delivering the critical metal to market, particularly after China announced in August it would ban its export.

As it is with many critical metals, China holds the whip hand when it comes to the silvery-grey metal. By producing 40,000 tonnes a year, or 48 per cent of global production, it eclipses the next biggest producer – Tajikistan with 21,000 tonnes.

Since the Chinese export ban, the price of antimony has continued to climb, hitting a new all-time high a week ago of US$30,500 (AU$46,200) making Larvotto’s timing look close to perfect.

In order to fast-track development, the company recently appointed West Perth-based MACA Interquip Mintrex to complete a definitive feasibility study (DFS) by early next year and manage the plant design modifications to optimise the 500,000-tonne facility.

When Larvotto purchased the mothballed Hillgrove mine, the deal came with significant infrastructure in place that would cost more than $150 million to replace. Notably the company picked up the entire project for around $8m from administrators.

In addition to antimony the mine is also expected to produce 41,000 ounces of gold per year. A recent prefeasibility study on the project concluded it could make $93 million a year for the company in pre-tax profits against a modest capital expenditure of $73 million.

Gold is currently trading at $3960, just seven per cent shy of its all-time high and antimony hit an all-time high a week ago at AU$46,200 a tonne.

At those levels Larvotto says it can turn out a tonne of antimony for zero cost after selling the gold – in fact remarkably, it says the cost of antimony would be a negative one given the sheer value of the gold sales associated with it.

Good work if you can get it.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au