Larvotto Resources (ASX:LRV) executed a binding offtake agreement with Glencore for the sale of gold concentrate produced during the first seven years of mining at its Hillgrove gold-antimony project in New South Wales, according to a Tuesday Australian bourse filing.

The company said the agreement covers an expected annual offtake of about 15,000 dry metric tonnes of concentrate, with payment based on London Bullion Market Association (LBMA) gold prices adjusted for contained gold content.

Gold concentrate is expected to form a significant component of Hillgrove's revenue profile alongside antimony. Commissioning of the project is expected in August, it added.